Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (4) TMI 1745 - AT - Income TaxRectification of mistake u/s 254 - contention of the assessee that in view of this clear finding of the Tribunal that the direction of DRP is very cryptic, the matter should have been restored back to the file of DRP and not to file of AO/TPO - HELD THAT:- As relying on IBM India Pvt. Ltd. Vs. Addl. CIT [2013 (12) TMI 1539 - ITAT BANGLORE] there is no apparent mistake in the Tribunal order because the matter was not restored back to the file of DRP but was restored back to the file of AO. Considering these facts along with the entire facts of the present case, we find that there is no apparent mistake in the Tribunal order which can be rectified u/s. 254(2) Comparable selection - Tribunal discussed regarding comparables of ITES segment without giving final finding in respect of IT segment - HELD THAT:- We find that there is apparent mistake in this para of Tribunal order and hence, we rectify the same. Para 13 of impugned Tribunal order should be read as under - "Learned DR of the revenue could not point out any difference in facts. Therefore, respectfully following these two tribunal orders, we hold that the four comparables i.e. 1) Bodhtree Consulting Ltd., 2) Tata Elxsi Ltd., 3) Persistent Systems Ltd. and 4) Infosys Ltd. in IT segment should be excluded from the final list of comparables of IT segment and in ITES segment, we uphold the exclusion of 1) Accentia Technologies Ltd., 2) Infosys BPO Ltd., 3) Cosmic Global Ltd. and 4) Eclerx Services Ltd. Remaining grounds on TP issues are rejected as not pressed as no argument was advanced on that account."
|