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2018 (4) TMI 1739 - HC - Income TaxComputation of deduction u/s 10A - HELD THAT:- The assessee had deducted certain expenditure from its export turnover. AO held that it ought to have been deducted from the total turnover and not from the export turnover. ITAT reversed the AO’s determination based upon a decision in the case of ‘CIT vs. Genpact India’ [2011 (11) TMI 119 - DELHI HIGH COURT] . In these circumstances, we are of the opinion that no question of law arises on this aspect Quantum of the risk adjustment - Dispute Resolution Panel (DRP) had modified from the initial 1% determined by the Transfer Pricing Officer (TPO) - HELD THAT:- ITAT upheld the DRP’s determination holding that the AO had to amend the draft assessment order after the DRP’s adjustment. This Court is of the opinion that there is no infirmity in the order of the ITAT. The DRP’s mechanism is an administrative and corrective process entitling the assessee to insist upon a second look in regard to the issues decided in the TPO’s report. Therefore, its decisions are binding and a part of the decision making process of the AO. Prior to the amendment in 2012, no appeal was made against the determinations of the TRP. In these circumstances, the impugned order cannot be faulted with. Exclusion of one comparable i.e. Infosys BPO - HELD THAT:- The Court is of the opinion that there is some merits in the Revenue’s submissions.
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