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2013 (5) TMI 199 - AT - Income TaxTransfer pricing adjustment - comparable transactions - assessee contended that DRP erred in considering Rites Limited and WAPCOS Limited as engaged in engineering services and high end consultancy, whereas the assessee company, as available from its business profile, employs only non-technical persons and not technical people - Held that:- As decided in DCIT, Circle 17(1), New Delhi Versus MCI Com India (P.) Ltd [2012 (10) TMI 790 - ITAT DELHI] Rites Ltd. and WAPCOS Ltd. were excluded as comparables, holding that marketing support services cannot be compared with turnkey engineering services - Rites Ltd. and WAPCOS Ltd. are engineering companies, providing end-to-end solutions, whereas 'MCI Com.' provided marketing support services to its parent company. The services of 'MCI Com' qua Rites Ltd. and WAPCOS Ltd. were not found functionally comparable. On this basis 'MCI Com' case will squarely applicable to the facts of the present assessee, i.e., of providing sourcing and procurement services and not at all comparable with Rites Ltd. and WAPCOS Ltd. No decision to the contrary has been brought to our notice. In favour of assessee.
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