9911796707
TMI Blog2023 (12) TMI 868X X X X Extracts X X X X X X X X Extracts X X X X ..... mpanies viz. M/s. Eclerx Services Ltd. and M/s. Vishal Information Technologies Ltd. from the set of comparables for benchmarking assessee's international transaction of provision of back office support services even though these two companies are functionally comparable to the back office support services provided by the assessee?" 2. Whether on the facts and in the circumstances of the case and in Law, the Ld. CIT(A) was justified in directing to include M/s. R. System International Ltd. in the set of comparables for benchmarking assessee's international transaction of provision of back office support services without considering the fact that its financials were prepared for the year ending on Dec. 31, 2009 whereas that of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rmation Technologies Ltd. & Eclerx Services Ltd. in the list of comparables applied to benchmarking the office support services provided by the assessee to its associated enterprises. The assessee objected for including Vishal Information Technology Limited as comparable on the ground that the said company was engaged in area of operations which were different from the assessee companies services. Similarly, assessee has also objected for including Eclerx Services Limited as one of the comparable on the ground that company was engaged in KPO services which were different from the assessee's company office support services. However, the TPO has not accepted the contention of the assessee and included both the conmpanies as comparable. 4. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AY 2007 - 08 held that Eclerx Services Ltd. is not comparable with the assessee company for many reasons. After considering the fact and findings we observe that Vishal Information Ld. Outsourced significant portion of its business whereas assessee company entirely carried out its business without outsourcing therefore we justify the decision of ld. CIT(A) in excluding this company from the list of comparable. In respect of Eclerx Service Ltd. following the decision of the ITAT as referred supra we find that the function of that company was not similar to the assessee company therefore we do not find any merit in the ground of appeal of the Revenue. In view of these facts and finding we don't find any infirmity in the decision of ld. CIT(A) ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
