Books 2 Byte Let us Share
Income-tax Department
( http://www.incometaxindiapr.gov.in/)
Camouflaged comparables
How does the taxman select comparables? Here is an example, from Let us Share: A compilation of best practices and orders. It speaks of XYZ P Ltd, a 100 per cent subsidiary of a multinational corporation, engaged in development of software for embedded technology, reckoned by the company as ‘a low-end activity.’
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