Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (5) TMI 1236 - AT - Income TaxTP Adjustment - Comparable selection - inclusion of Jeevan Scientific Technologies Ltd. in the list of comparable for determining the ALP of international transactions - HELD THAT:- As seen from the financial of M/s. Jeevan Scientific Technologies Ltd. for the assessment year 2011-12, the total income from BPO operations was only Rs.79.21 lakhs., thus this company M/s. Jeevan Scientific Technologies Ltd. cannot be included as comparable to determine the ALP of international transactions. Accordingly, we direct the AO/TPO to exclude M/s. Jeevan Scientific Technologies Ltd. from the list of comparables and directed accordingly. M/s. Universal Print Systems Ltd. - Contention of ld. A.R. is that the total RPT transactions in this case is more than 25%, as such this company cannot be included as a comparable - We direct the AO/TPO to pass the consequent order in conformity with the Tribunal order extracted herein above. This ground of assessee is partly allowed for statistical purposes. M/s. Universal Print Systems Ltd. - As the required information u/s 133(6) of the Act is not made available to the TPO, in such circumstances, T.P. adjustment on this count cannot be made reasonable or accurately made in this regard. Accordingly, this company is to be excluded from the list of comparable companies as reliance placed by this Tribunal while deciding this issue in assessee’s own case on the decision of Zyme Solutions Pvt. Ltd. [2018 (11) TMI 1793 - ITAT BENGALURU]. Accordingly, we direct the AO/TPO to exclude this company.
|