2023 (1) TMI 374

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.... Shri Shaym Prasad, CIT DR ORDER PER PRASHANT MAHARISHI, AM: 01. This is recalled matter by miscellaneous application number 204/M/2021 for assessment year 2011 - 12 vide order dated 2/3/2022 where in the order passed by coordinate bench in ITA number 1537/M/2016 dated 10/1/2020 was recalled to decide Ground no 1 & 2 of The Appeal. 02. The reason for allowing miscellaneous application ....

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.... Ld. DRP has erred in law and on facts in upholding the action of the Ld. AO/TPO of cherry-picking TTK Healthcare Limited (TTK Healthcare') as a comparable company without providing search process to the appellant, which is not permissible as per the Transfer Pricing Regulations. 2. GROUND NO. 2: The Ld. AO/TPO/DRP have erred in law and on facts in selecting TTK Healthcare as....

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...., the learned transfer pricing officer passed an order under section 92CA (3) read with section 254 of the income tax act on 28/1/2022 wherein the inclusion or exclusion of the comparable M/s TTK healthcare Ltd [ Segmental] was examined. The learned TPO after considering the explanation of the assessee issued a notice under section 133 (6) of the act to TTK healthcare limited which was replied to ....

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....ve order of the learned transfer pricing officer, it is apparent that TTK healthcare limited is not a good comparable and therefore is required to be excluded. Further on exclusion of this comparable the margins of the assessee is higher than the margin shown by the comparables. Therefore, no transfer pricing adjustment can be made. 08. This is the only dispute even in recalled order. 09. We....