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TMI Blog2018 (6) TMI 1771X X X X Extracts X X X X X X X X Extracts X X X X ..... han Alankamony, J. This appeal by the assessee is directed against the order passed by the Ld. Members of the Dispute Resolution Panel-2, Bengaluru vide order dated 15.09.2017 in F.No.414/DRP-2- BNG/2016-17 for the assessment year 2013-14 passed U/s.144C(5) of the Act. 2. The assessee has raised several grounds in its appeal however the cruxes of the issues are that:- (i) The Ld.AO / TPO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment order was passed U/s.143(3) r.w.s. 144C(1) & 92CA of the Act on 09.12.2016 wherein the Ld.AO made an upward adjustment of Rs. 2,00,98,068/- and Research and Development expenses amounting to Rs. 1,99,60,831/- was disallowed treating it as capital expenditure. 4.Ground No. 2(i) : Upward revision of Rs. 2,00,98,068/-:- At the outset the Ld.AR submitted before us that the Ld.Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s. Acropetal Technologies Ltd., as comparable company with the available data of the earlier assessment year, since there were adverse factors in the relevant assessment year as a result the data for the relevant assessment year was not reliable. The Ld.DR could not controvert to the submission of the Ld.AR though he vehemently relied on the orders of the Ld. Revenue Authorities. 4.1 We have h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e profit of the company is abnormally high during the relevant assessment year. Hence, we are of the considered view that for the relevant assessment year M/s. Acropetal Technologies Ltd., cannot be adopted as a comparable company. Therefore we hereby direct the Ld.AO to exclude M/s. Acropetal Technologies Ltd., while determining the ALP of the assessee. It is ordered accordingly. 5. Ground No. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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