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2015 (11) TMI 273 - AT - Income TaxTransfer pricing adjustment - Held that:- Vishal Information Technologies Ltd. is not a valid comparable as held in Google India Pvt. Ltd. vs. DCIT, Bangalore (2013 (3) TMI 172 - ITAT BANGALORE) wherein Google India was engaged in the business of software development services and ITES. We are of the opinion that Coral Hub (previously known as Vishal) cannot be used as a comparable and so we direct the AO to exclude this company from the list of comparables. ECLERX SERVICES LIMITED need to be excluded taking into consideration the fact that eClerx is engaged in data analytics, data processing services, pricing analytics, bundling optimization, content operation, sales and marketing support, product data management, revenue management and in addition, eClerx also offered financial services such as realtime capital markets, middle and back-office support, portfolio risk management services and various critical data management services and the Hon’ble High Court held that this company is engaged in KPO services and so, this company cannot be compared with the low end service provider like the assessee in this case. We order the exclusion of this company from the set of comparables. INFOSYS BPO - extra ordinary event of amalgamation during the year has helped Infosys BPO in acquiring domains skill sets in the finance, administration space as well as enhanced its global presence with centers at Thailand and Poland. In view of the said extra ordinary event brought to our notice, we exclude Infosys BPO from the list of comparables. WIPRO BPO - Since sufficient information for this comparable is not available, we direct exclusion of this company as a comparable HCL COMNET SYSTEMS & SERVICES LTD is functionally similar to that of the assessee. Ld. AR could not point out any functional difference to our attention. In the said scenario, we uphold the inclusion of the said company in the set of comparables. The assessee fails. GENESYS INTERNATIONAL is into mapping business and it provides geographical information services comprising Photogrammetry, Remote Sensing, Cartography, Data Conversion, related Computer based Services and Information Technology enabled and other related services, which cannot be by any stretch of imagination be said to be comparable to that of the assessee. Since Genesys International Corporation Ltd. is functionally dis-similar with that of the assessee, we direct the TPO to exclude the said company from the list of comparables. ACROPETAL is into software development also and since the segmental information is not available, it would not be safe to rely on the finance of this company. Therefore, we order exclusion of this comparable from the set of comparables.
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