2019 (3) TMI 1972

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Respondent. ORDER 1. The Revenue has filed this Appeal raising following questions for our consideration : (A) Whether on the facts and circumstances and in law, the Hon'ble ITAT was justified, in directing not to consider the case of Motilal Oswal Investment Advisors Pvt. Ltd. as a comparable, when the same was within the terms of Rule 10B(2) ? (B) Whether on the facts and circumstan....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....mstances and in law, the Hon'ble ITAT was justified, in directing not to consider the case of Brescon Corporate Advisors Pvt. Ltd. as a comparable, when equity related advisory is also part of its activities and not just Merchant Banking activities and that all these activities fall in overall ambit of Investment advisory and therefore within the ambit of Rule 10B(2) ? (E) Whether on the fac....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....missing this Appeal. 3. The Respondent Assessee is held to be an investment subadvisor by the Tribunal, with respect to which the Revenue has not raised any dispute in this Appeal. The dispute raised by the Revenue relates to either inclusion or exclusion of certain comparables by the Tribunal while carrying out FAR in case of the Assessee. The Tribunal discarded two entities namely Motilal Oswal....