Tribunal held that one of the comparable company, Motilal Oswal Investment Advisories Pvt. Ltd., was engaged in the business of investment banking, merchant banking, merger and acquisition, private equity, syndication, etc. The assessee had only one segment of providing non-binding investment advisory services to the AE. Looking at the functional profile of that company, it was held that company cannot be a comparable to a non-binding investment advisory service provider. Accordingly  the AO was directed to determine the arm’s length price of the international transaction with the AEs based on remaining comparables. (AY. 2010-11)