TMI Blog2024 (1) TMI 365X X X X Extracts X X X X X X X X Extracts X X X X ..... ning data analytics, data process solutions, and other high end services. It was found that these entities had a dedicated team that developed automation tools and thus, were not comparable with companies providing low end services, like that of the assessee and TSR merged with Tata Share Registry. Evidently, TSR was operating in the Business Process Outsourcing (BPO)/ KPO sector with an emphasis on financial services. Furthermore, in the period in issue, TSR had registered unusually high margins. The main source of revenue for TSR was the software it developed for payroll processing. No substantial question of law. - HON'BLE MR. JUSTICE RAJIV SHAKDHER AND HON'BLE MR. JUSTICE GIRISH KATHPALIA For the Appellant Through: Mr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ormation Technology Enabled Services (ITES) Segment. 4.4 Likewise, the TPO also ordered an upward adjustment amounting to Rs. 31,329,348/- in CSS. 5. Being aggrieved, the respondent/assessee carried the matter in appeal to the Commissioner of Income Tax (Appeals) [in short, CIT(A) ]. 5.1 Via order dated 31.01.2014, the CIT(A) allowed the appeal and directed the exclusion of Accentia, Eclerx, Mold-Tek, and TSR as there was functional dissimilarity between them and the respondent/assessee. 5.2 Resultantly, the upward adjustment made by the TPO stood deleted. The aforementioned order passed by the CIT(A) impelled the appellant/revenue to prefer an appeal to the Tribunal. The Tribunal via the impugned order, sustained the order dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... extraordinary circumstance in the form of amalgamation during the Financial Year (FY) 2006-07 (AY 2007- 08). (ii) Eclerx and Mold-Tek: The finding returned was that these entities were in the business of Knowledge Process Outsourcing (KPO) and in particular, were providing services concerning data analytics, data process solutions, and other high end services. It was found that these entities had a dedicated team that developed automation tools and thus, were not comparable with companies providing low end services, like that of the assessee. (iii) TSR: The finding of fact was returned that during the period under consideration, i.e., AY 2007-08, TSR merged with Tata Share Registry. Evidently, TSR was operating i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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