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2023 (3) TMI 1392 - AT - Income TaxTP Adjustment - comparable selection - HELD THAT:- We respectfully, following the decision of the Coordinate Bench in assessee’s own case for the A.Y 2013-14 [2022 (12) TMI 1431 - ITAT HYDERABAD] to exclude M/s. Infosys BPO and M/s. Eclerx Services Ltd from the list of comparables. The TPO is directed to pass the order giving effect in accordance with the law. Inclusion of ACE BPO Services Pvt. Ltd, and Jindal Intellicom (P) Ltd - Respectfully following our decision in the case of assessee for the assessment year 2013-14 [2022 (12) TMI 1431 - ITAT HYDERABAD] we also remand back the inclusion of these two comparables to the file of TPO to pass appropriate order after considering the directions issued by us and also after affording the opportunity to the assessee. M/s. MPS Ltd - CIT(A) have directed the TPO to exclude this comparable, but the order passed by the ld.CIT(A) is lacking in reasoning and basis for arriving at the above said finding. In our view, the objection raised by the Revenue, needs to be allowed and the exclusion of M/s. MPS Ltd. is required to be sent back to the file of the ld.CIT(A) with a direction to pass afresh order considering the rival contentions of the parties. M/s. Datamatics Financial Services Ltd - Contention of the ld.DR that the order passed by the ld.CIT(A) was a cryptic and non-speaking order, and therefore, the issue of inclusion of Datamatics is required to be reconsidered by the ld.CIT(A) after giving the opportunity to the Assessing Officer / TPO acceptable. Interest on outstanding trade receivables - whether assessee has not furnished any inter company agreement to prove the credit period is 90 days and the Ld.CIT(A) erred in adjudicating credit period without remanding to the file of TPO? - HELD THAT:- As no documentary evidence has been brought on record before us so that we can infer that 120 days credit period is a reasonable period. In our view, the approach of ld.CIT(A) cannot be faulted with. Hence, we direct the TPO / Assessing Officer to charge interest at LIBOR + 200 points. Further, we direct the Assessing Officer / TPO to allow the credit period and charge interest over and above the outstanding period of 60 days - we direct the TPO / Assessing Officer to decide the issue afresh after considering our directions reproduced hereinabove at para 9.1. for the current assessment year as well.
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