2022 (1) TMI 1085

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....Accountant Member For the Assessee : Shri K.R. Vasudevan. For the Revenue : Sri Rohit Mujumdar - CIT DR. ORDER PER S. S. GODARA, J.M. This assessee's appeal for A.Y 2013-14 arises from the Commissioner of Income Tax (Appeals) - 5, Hyderabad's order dated 31.10.2017 in case No.0520/2016-17/CIT(A)-5 involving proceedings under section 143(3) r.w.s. 92CA(3) of Income Tax Act, 1961 (in short, "th....

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....hat the learned lower authorities have not adopted any segmental comparable whilst arriving at the impugned adjustment. 4. Faced with this situation, we quote Tecnimont Icb Pvt Ltd., Mumbai Vs. ACIT (2012) 138 ITD 23 (Mumbai) and Sabic Innovative Plastic India Pvt Ltd Vs. DCIT (2013) 59 SOT 138 (Ahmedabad) holding that an associate enterprise itself would not to be taken as a comparable since lac....