TMI Blog2019 (9) TMI 558X X X X Extracts X X X X X X X X Extracts X X X X ..... hat of assessee. It cannot be held that the aforesaid findings recorded by the Tribunal in the appeal warrant any interference by this Court. - ITA-540-2017 (O&M) - - - Dated:- 20-8-2019 - MR AJAY TEWARI AND MR HARNARESH SINGH GILL, JJ. For The Appellant : Mr. Tajender K. Joshi, Sr. Standing Counsel For The Respondent : Mr. Vishal Kalra, Advocate ORDER AJAY TEWARI, J. (Oral) 1. This order shall dispose appeal bearing No. ITA No. 540- 2017 preferred by the Revenue under section 260A of the Income Tax Act, 1961 (for short the Act ) against the order dated March 17, 2017 (Annexure A-III) passed by the Income Tax Appellate Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Arm s Length Price ( ALP ). The TPO vide order dated 21.01.2014 (Annexure A-II) passed under Section 92CA(3) of the Act and determined the transfer pricing adjustment at ₹ 4,25,05,514./- Thereafter, draft assessment order was passed against which the assessee approached the Dispute Resolution Panel-III, New Delhi. The Dispute Resolution Panel-III vide order dated 22.12.2014 revised the adjustment to ₹ 2,40,24,399/- instead of ₹ 4,25,05,514/-. Thereafter, the Assessing Officer vide order dated 6.2.2015 (Annexure A- 1) framed the assessment under section 143(3) read with section 144C of the Act at a total income of ₹ 4,25,99,780/- including the addition of ₹ 4,20,24,399/- on account of Transfer Pricing Adjus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court: ITA No.461/2016) 5. The issue of excluding M/s. Accentia Technologies Limited for the list of comparables was decided by this Court in the case of the assessee in ITA No. 142 of 2018 for the A.Y. 2008-09, wherein it was held that the ITAT has rightly excluded M/s Accentia Technologies Limited from the list of comparables as the same was not functionally comparable. 6. The Tribunal further in this year directed the AO/TPO to exclude TCS E-Serve Ltd. and TCS E-Serve International Ltd. from the list of comparables on the ground that the same were functionally dissimilar to the assessee company. The tribunal held that the above mentioned comparable companies were engaged in providing technical servi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 13. The exclusion of second comparable ICRA Techno Analytics Ltd. was on the basis that it had engaged itself in processing and providing software development and consultancy and engineering services/web development services. The reasons for execution were functional dissimilarities and that segmental data were unavailable. Again the findings of the ITAT are reasonable and based on record. The third comparable that the AO/TPO excluded is TCS E-serve. The ITAT observed that though there is a close functional similarity between that entity and the assessee, however, there is a close connection between TCS E-serve and TATA Consultancy Service Ltd. which was high brand value; that distinguished it and marked it out for exclusion. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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