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2021 (6) TMI 611 - AT - Income TaxTP Addition - comparable selection - international transaction of Provision of Software Development services - HELD THAT:- InfoBeans cannot be excluded from the tally of comparables on account of extraordinary financial event of merger, more specifically, when the otherwise similarity of this company has not been challenged on behalf of the assessee.We, therefore, countenance the inclusion of this company. Cybercom Datametics Information Solutions Ltd - As this comparable was chosen by the TPO, the primary onus of demonstrating its comparability, was upon him. Except for repeated accentuation of comparability in his order, the TPO has nowhere proved his point in the light of the Annual report of the company or any other relevant material. DR also could not point out from the Annual report of the company or any other material that it was rendering only Software services. Per contra, the Annual report of the company states that it is engaged in rendering Technical services in addition to Software services – a situation, which does not match with the assessee on holistic basis. On the failure of the Revenue to establish the comparability of this company chosen by the TPO, we direct to exclude it from the list of comparables. To sum up, we set-aside the impugned order and remit the matter to the file of AO/TPO for re-determining the ALP of the international transaction of Provision of Software Development services in the light of our above discussion
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