Investment advisor or sub advisor cannot be compared with a merchant banker or investment banker whether it is a inclusion or exclusion of certain comparable. (ITA No.8 of 2017, dt.11/03/2019)
PCIT v. Blackstone Advisors India Pvt. Ltd, (Bom)(HC)(UR) Editorial: SLP of revenue is dismissed (SLP No.24300 of 2019 dt.04/10/2019) (2019) 418 ITR 13 (St.)(SC)/ ( 2020) 269 Taxman 484 (SC)
S.92C: Transfer pricing- International Transactions – Arm’s length price – comparable – Investment advisor or sub – advisor cannot be compared with a merchant banker or investment banker.