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Assessee could seek exclusion of comparables before TPO/DRP if selected companies had committed some irregularities

November 30, 2018[2018] 99 taxmann.com 337 (Chennai - Trib.)

IT/ILT : Where assessee having included one company in list of comparables, came to know that said company had committed some irregularities and proceedings were pending before SEBI, assessee could seek exclusion of comparable so selected in transfer pricing proceedings before TPO and DRP

IT/ILT : Where revenue authorities excluded expenditure incurred in foreign currency towards communication and insurance from export turnover, said expenditure was to be excluded from total turnover as well

IT/ILT : In transfer pricing proceedings, gain arising to assessee due to foreign exchange fluctuation was to be treated as part of export profit

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