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2023 (7) TMI 866 - HC - Income TaxTP Adjustment - comparable selection - HELD THAT:- Tribunal was right in excluding ATPL, I-Gate and Infosys on the ground that an extraordinary financial event had occurred, rendering them unfit comparables to determine the ALP. Likewise, quite clearly, the services offered by TCS International [not TCS E-Serve Ltd.] could not be used as a comparable, since the respondent/assessee was, admittedly, in the business of ITES/BPO/FSS. For each of these services that the respondent/assessee offered, it purchased, it appears, proprietary software and did not develop, maintain and update its own software for the use of its customers. The issue at hand, in our view, turned on findings of fact. Revenue's submission that no reasons were provided by the Tribunal is not, in our view, an accurate reading of the impugned order. We find upon perusal of the appeal, the appellant/revenue has raised no ground, that would have us conclude that the findings returned by the Tribunal, as discussed above, are perverse.
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