ACUMEN FUND ADVISORY SERVICES INDIA (P.) LTD VS DCIT [2014] 50 TAXMANN.COM 317 (MUMBAI- TRIB.)

The issue for consideration was whether Motilal Oswal Investment Advisor, engaged in merchant banking activity can be compared with Assessee engaged in investment advisory services. Facts: For AY 2009-10, the assessee rendered investment advisory services to its AE. The assessee applied TNMM as the MAM and arrived at mean margin of 18.60% (PLI=OP/OR) by selecting […]

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