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2015 (9) TMI 1554 - DELHI HIGH COURT

2015 (9) TMI 1554 - DELHI HIGH COURT - TMI - TPA - selection of comparable - Held that:- The orders of the TPO the DRP as well as the ITAT, this Court is not persuaded that the impugned order of the ITAT suffers from any illegality. The view taken by the ITAT that markets in the US and the India were fundamentally different and, that the results of the Indian segment of the US operations of Goldstone Technologies constituted an inappropriate a comparable cannot be said to be perverse. The view o .....

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with Mr Nitin Gulati, Junior Standing Counsel. For the Respondent : Mr C. S. Aggarwal, Senior Advocate with Mr Prakash Kumar, Advocate. O R D E R 1. This appeal by the Revenue is directed against an order dated 18th February, 2015 passed by the Income Tax Appellate Tribunal ( ITAT ) in ITA No.679/Del/2014 for Assessment Year ( AY ) 2009-10. 2. The Assessee is a private limited incorporated under the Companies Act, 1956 and is engaged in the business of providing software development and related .....

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cost (OP/OC) being used as the profit level indicator (PLI) for determination of the arm s length price (ALP) under the Transactional Net Margin Method (TNMM). The Assessee had given the list of 59 comparables and the arithmetic mean of the PLI of the said comparables was 6.95%. The Assessee s PLI i.e. OP/OC was computed at 10.67%. On this basis, the Assessee claimed that the price of the services rendered by it was an ALP. 4. The TPO however, rejected many of the comparables provided by the Ass .....

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software division. On the basis of the TPO s report, the AO by a draft order the assessment order took the average PLI as 24.55 % and on that basis that ordered a TP adjustment of ₹ 4,62,71,394/-. The Dispute Resolution Panel rejected the Assessee s objections by an order dated 31st October 2013. Thereafter the AO passed the final assessment order dated 24th December, 2013. 5. Before the ITAT, the Assessee objected to M/s Goldstone Technologies being adopted as a comparable on the ground .....

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