TMI Blog2018 (1) TMI 1566X X X X Extracts X X X X X X X X Extracts X X X X ..... cide them in favour of the Revenue. - I.T.A. No. 3700/Mum/2016, C.O No. 36/Mum/2017 - - - Dated:- 10-1-2018 - Shri B.R. Baskaran And Amarjit Singh, JJ. For the Appellant: Shri Niraj Sheth For the Respondent: Shri Jayant Kumar ORDER B.R. Baskaran, J. The appeal filed by the Revenue and cross objection filed by the assessee are directed against the order dated 29.2.2016 passed by the learned CIT(A)-56, Mumbai and they relate to A.Y. 2010-11. The Revenue is aggrieved by the decision of the learned CIT(A) in deleting the addition made by way of transfer pricing adjustment. 2. The Revenue has raised following grounds :- (1) 0n the facts and in the circumstances of the case, the CTT(A) has erred in deleting the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity was not available? (6) The appellant prays that the order of the CIT(A) on the above ground be set aside and that of the A.O. be restored. (7) The appellant craves leave to amend or alter any grounds or add a new ground which may be necessary. 3. At the time of hearing, the learned AR submitted that the main ground urged by the Revenue is ground No. 4 relating to exclusion of Government companies from bench marking exercise. The Learned AR submitted that the learned CIT(A) has held that the Government companies, viz., M/s. Engineering India Limited, M/s. Rites Limited and M/s. WAPCOS Limited cannot be considered as comparable companies. In this regard, the learned CIT(A) has followed the decision rendered by Mumbai Bench of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ineers P Ltd (2013)(35 taxmann.com 351)(Mum ITAT) (c) International SOS Services India P Ltd Vs. DCIT (2016)(67 Taxmann.com 73)(Delhi ITAT) (d) Bechtel India Pvt. Ltd Vs. DCIT (ITA No.1478/Del/2015) In the case of Thuseen Krupp Industries India P Ltd, the TPO had included M/s Engineers India Ltd, a Government company. The Tribunal excluded the same with the observation that the Engineers India Ltd could not be considered to be comparable for the reason that the contracts between Public Sector undertakings are not driven by profit motive along but other consideration also weigh in such as discharge of social obligations etc. Identical view has been expressed in other cases also. The view taken by the Tribunal was not found fau ..... X X X X Extracts X X X X X X X X Extracts X X X X
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