TMI Blog2022 (4) TMI 1521X X X X Extracts X X X X X X X X Extracts X X X X ..... ly hold good and therefore we direct the AO/TPO to exclude this company from the list of comparables. - M.P. No. 29/Bang/2022 (in ITA No. 584/Bang/2019) - - - Dated:- 29-4-2022 - SHRI. B.R. BASKARAN, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER For the Assessee : Shri Dhanesh Bafna, CA For the Revenue : Shri Priyadarshi Mishra, Addl. CIT (DR) ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present miscellaneous petition is preferred by assessee seeking certain rectification in order dated 01.11.2021 passed by this Tribunal. 2. It is submitted by the Ld.AR that in the impugned order passed by this Tribunal two comparables being TCS E-serve Ltd. and Infosys BPO Ltd. in ITES segment has been inadverten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l impact the margins. Schedule 13 to the profit and loss account of this company for the F.Y. 2007-08 shows that this company incurred huge selling and marketing expenses. Page 133 of the annual report of this company for the F.Y. 2007-08 shows that this company realizing its brand value has chosen to value the same on the basis of its earnings and that of Infosys. The brand value of the Assessee and Infosys has been valued at Rs.31,863 crores. Infosys BPO, being a subsidiary of Infosys, has an element of brand value associated with it. This is also clear from the presence of brand related expenses incurred by this company. Presence of a brand commands premium price and the customers would be willing to pay, for the services/products of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nance, insurance domain. This contention was rejected by the TPO by holding that it is engaged in BPO, business of banking, finance, insurance domain, which are purely in the nature of ITeS. Even the Hon'ble DRP confirmed the findings of the TPO. 12.1 Being aggrieved, the assessee is before us contending that this company is functionally different as it is engaged in diversified business activities of BPO such as banking, finance, insurance. Learned AR of the assessee has also drawn our attention to the Annual Report placed at pages 563 to 563 of the paper book and reliance in this regard was placed on the following decisions: Turnover Filter: i. McAfee Software (India) Pvt Ltd US-136-ITAT2016(Bang)-TP] ii. Swiss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hts (KPO) and support services for both data and voice processes. Your Company is an integral part of the Tata Consultancy Services' (TCS) strategy to build on its 'Full Services Offerings' that offer global customers an integrated portfolio of services ranging from IT services to BPO services. The Company provides its services from various processing facilities, backed by a robust and scalable infrastructure network tailored to meet clients' needs. A detailed Business Continuity Plan has also been put in place to ensure the services are provided to the customers without any disruptions. Thus, this company is also stated to be a Knowledge Process Outsourcing and therefore for the reasons stated by us while ..... X X X X Extracts X X X X X X X X Extracts X X X X
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