TaxTMI 
TaxTMI 
2026 (9) TMI 1336
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....D HON'BLE MRS. JUSTICE K.S. HEMALEKHA For the Appellant : Sri. Sanmathi E.I., Advocate For the Respondent : Sri. T. Suryanarayana, Senior Advocate For Smt. Tanmayee Rajkumar, Advocate ORAL JUDGMENT PER: HON'BLE MR. VIBHU BAKHRU, CHIEF JUSTICE: 1. The department has filed the present appeal under Section 260-A of the Income Tax Act, 1961 [the Act], inter alia, impugning the o....
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....3. Whether the Tribunal correct in directing inclusion of Neeman Medical International [Asia] Limited as a comparable, when the business activity of the assessee company i.e., pharmaceutical research and development services and the business of the comparable company is clinical research and the activities were different and recorded a perverse finding? 4. Whether the Tribunal was correct....
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....arned Tribunal are found to be ex facie perverse, an appeal under Section 260A of the Act would not be maintainable. 4. The Supreme Court did not accept the said view and, therefore, the present matter was remanded to this Court along with several other petitions. 5. The learned counsel appearing for the department fairly states that third question may be considered as a substantial question....
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....& expenditure as on 31.03.2005 that income of this assessee was Rs. 4.05 crores and the expenditure before tax was Rs. 4.38 crores. Thus, Neeman Medical International (Asia) Limited is not a consistently loss making company. To apply the filter of consistent loss making company, it is necessary that the loss should be consistent whereas in the case of Neeman Medical International (Asia) Limited, t....