TMI Blog2014 (1) TMI 983X X X X Extracts X X X X X X X X Extracts X X X X ..... ata of this company clearly depicted that it was also engaged in the business of IT Enabled Services as against the assessee dealing in software sector alone - The issue has been restored to the file of the TPO for deciding this issue afresh. - I.T.A .No.-5493/Del/2013 - - - Dated:- 17-1-2014 - Shri R. S. Syal And Smt. Diva Singh,JJ. Sh. S. B. Garg, FCA. Sh. Sachin Garg, FCA. Sh. Yogesh Kumar, CIT, DR. ORDER Per R. S. SYAL, AM. This appeal by the assessee arises out of the order passed by the Assessing Officer u/s 143(3) r.w.s. 144C (13) of the Income- tax Act, 1961 (hereinafter called `the Act') on 20.9.2013 in relation to the Assessment Year 2009-10. 2. Briefly stated the facts of the case are that the assessee i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and perused the relevant material on record. The ld. AR has not disputed the exclusion of the comparable cases initially chosen by the assessee in its TP Study. Similarly there is no controversy on the selection of the most appropriate method or the Profit Level Indicator (PLI). The major focus of the ld. AR's submission was against the inclusion of two cases by the TPO viz., Infosys Ltd and Bodhtree Consulting Ltd. It was stated that both these cases were incomprable and liable to be excluded. 4.1. The ld. AR gave the following distinguishing features between Infosys Ltd. and its case to accentuate on its exclusion :- (a) Infosys Ltd. is a giant company with turnover of Rs.20,264 crore as against the assessee's turnover of Rs.40.04 c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vt. Ltd. (2013) 219 Taxman 26 (Del). Per contra, the ld. DR submitted that the question about the matching of facts of Agnity India Technologies (supra) with that of the assessee could not be readily answered because certain details were required to be examined at length in this regard. 4.3. It is noticed that the assessee took up such objections before the authorities below also and argued for the exclusion of such case. It can be seen for the orders passed by the TPO as well as DRP that the assessee's objections in this regard have not appropriately been dealt with. Further, the TPO refused to accept the tribunal decision in the case of Agnity Ltd.(supra) and chose to go by another contrary order. It is axiomatic that the tribunal order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... certain material from the website of Bodhtree Consulting Ltd. and its financial accounts to demonstrate that the said company was also engaged in the business of ITES and not only in software sector. It was therefore, contended that the said case be excluded. The ld. DR opposed the contention by stating that the nature of business referred to by the ld. AR of Bodhtree Consulting Ltd. as having been engaged in ITES also was not clear from their financial results of such company. After arguments, both the sides agreed that this case may also be sent back for fresh consideration at the end of the TPO. In our considered opinion, it would be just and fair if the impugned order on this issue is also set aside and the matter is restored to the fil ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
