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2015 (7) TMI 797 - AT - Income TaxTransfer pricing adjustment - addition made on the basis of Arm’s Length Price - impugned action of the Ld CIT(A) to exclude M/s Satyam computers Ltd,from the list of comparables selected by the by the TPO,/AO questioned - CIT(A) delted the TPO addition - Held that:- CIT(A) has noted that in the case of Agnity Technologies Private Limited vs. Income Tax Officer, Ward 12(1), New Delhi [2010 (11) TMI 852 - ITAT DELHI] has upheld the decision of the DRP which had excluded M/s. Satyam from the list of comparables. Ld. CIT(A) further observed that in view of this, M/s Satyam Computers Services Ltd. should be taken out from the list of comparable companies. In the light of the aforesaid facts, ld. CIT (A) took the decision to exclude M/s. Satyam from the list of comparables, which we uphold since the financial results of the said company is the result of admitted financial irregularities and conspiracy hatched and committed by the directors and cannot be relied upon. So the financial result of the said company cannot be used by the TPO to compute the ALP, which has been rightly done by the ld. CIT (A), so we concur with his decision to exclude M/s. Satyam from the list of comparables, so the Revenue’s ground is dismissed. Thus by excluding M/s. Satyam from the list of comparables, the mean of the assessee falls within ± 5% of 22.15%. Hence, we do not see any reason to interfere with the impugned order passed by the Ld. CIT(A), hence, we uphold the same. Therefore, the issues in dispute raised by the Revenue are rejected. - Decided in favour of assessee.
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