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2023 (9) TMI 980 - AT - Income TaxTP Adjustment - Comparable selection - exclusion of Infosys Ltd. as a comparable on account of high turnover, having business segments of software development and sale of products, diversified business operations, substantial intangible assets, brand value, intangible and R & D expenses etc. - HELD THAT:- The coordinate Bench in assessee’s own case in assessment year 2007-08 has excluded Infosys Ltd. as a comparable while deciding assessee’s appeal [2015 (9) TMI 1398 - ITAT DELHI]. Identical view was expressed by the coordinate Bench while deciding assessee’s appeal in assessment year 2008-09 [2016 (6) TMI 1259 - ITAT DELHI]. Learned counsel appearing for the assessee has made a statement at bar that in assessment year 2014-15, the Dispute Resolution Panel(DRP) has excluded Infosys Ltd. as a comparable. Whereas, in assessment year 2015-16 and 2016-17, TPO himself did not consider Infosys Ltd. as a comparable. Thus, keeping in view the decision taken by the coordinate Benches in assessee’s own cases in assessment years 2007-08 and 2008-09 and the further fact that the departmental authorities themselves have excluded Infosys Ltd. as a comparable in assessment year 2014-15, 2015-16 and 2016-17 in assessee’s own case, we decline to interfere with the decision of the first appellate authority on the comparability of Infosys Ltd.
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