Indian tribunal comments on comparability parameters
February 04, 2010
The special bench of Chandigarh Income Tax Appellate Tribunal has restated the critical importance of conducting a detailed FAR analysis.
In the case of Quark Systems Private Limited, the tribunal, while adjudicating the matter and remanding certain issues back to the file of the assessing officer (AO), has stressed the importance of carrying out detailed FAR analysis (functions performed, assets used, and risk assumed) of the tested party and the comparables.
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