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2023 (9) TMI 1206 - AT - Income TaxTP adjustments made in respect of “Marketing & Distribution Services” and “Backend Processing Services”- Comparable selection - HELD THAT:- As gone through the financial statements of M/s Birla Global Finance Co Ltd and we notice that this company has started financing activities during the year under consideration. We noticed that the assessee is engaged in providing marketing support services only. Hence a company which is engaged in financing activities, in our view, cannot be said to be comparable with the assessee. Accordingly, we direct exclusion of this company. The alternative submission on the error in computation of margin need not be adjudicated, since the company itself is directed to be excluded. The assessee also sought exclusion of M/s CRISIL Ltd and M/s ING Vysya Financial Services Ltd on account of high RPT. However, it was stated earlier that the exclusion of M/s Birla Global Finance Co Ltd would make its transactions at arms length. Hence we do not find it necessary to adjudicate upon above said two companies. TP adjustment made in respect of Backend processing support services - We notice that the co-ordinate bench in the case of WTW Global Delivery and Solutions India P Ltd [2022 (8) TMI 1435 - ITAT MUMBAI] has directed exclusion of seven companies Mold-Tek Technologies Ltd (Seg.), E-clerx Services Ltd, Accentia Technologies Ltd, Vishal Information Technologies Ltd, Infosys BPO Ltd, Wipro Ltd, HCL Comnet Systems & Services Ltd. The company M/s I services India P Ltd was excluded by the coordinate bench in the case of DBOI Global Services P Ltd [2021 (8) TMI 1272 - ITAT MUMBAI] due to non availability of contemporaneous data in public domain. Accordingly, we direct AO/TPO to re-compute arms length price of international transactions in both the segments under consideration.
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