TMI Blog2015 (10) TMI 2180X X X X Extracts X X X X X X X X Extracts X X X X ..... gainst revenue Transfer pricing adjustment - CIT(A) directing the AO to re-compute mean margin and work out the quantum of TP adjustment - CIT(A) directing the AO to consider current year data for comparable M/s Net Axis Software Services Ltd and to consider M/s. Dynacons Solutions & Systems Ltd as comparable - Held that:- If financial data for relevant previous years were available in public domain, it could be considered as good comparables. CIT(A)'s direction was only to verify this aspect. He did not limit the power of the AO / TPO to consider their comparability on their yardsticks. We are of the opinion that order of CIT (A) does not suffer from any ambiguity and was fair and appropriate in the circumstances of the case - Decided a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... decision and filed further appeal before the Hon'ble Supreme Court, which is pending for disposal as on date. 03. As is clear from the ground, Revenue is challenging the order of CIT (A) on the issues of computation of deduction u/s.10A of the Income-tax Act, 1961 ('the Act' in short), without setting off the losses of units on which 10A has not been claimed. CIT (A) had followed the jurisdictional High Court judgment in the case of CIT v. Yokogawa India Ltd [(2013) 341 ITR 385]. Revenue's decision to move an appeal before Hon'ble Apex Court against this judgment will not be a reason not to follow this judgment. Similarly acceptance of a judgment of the High Courts or orders of this Tribunal are irrelevant since all ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of the mean operating margin, as their financial data for the FY ended 31.03.2004 was since available on the Prowess and Capitaline databases. As the only reason mentioned by the TPO for rejecting these companies as comparables was non availability of financial data in the databases for the relevant period, it would be in the interest of fairness to include them as comparables, now that the relevant data are claimed to be available. I therefore direct the appellant to furnish such data to the AO and thereupon, direct the AO to re-compute mean margin of the five comparables including M/s Net Axis and M/s Dynacons and work out the quantum of TP adjustment, if required, in accordance with law. This ground of appeal is treated as allowed. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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