Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (8) TMI 645 - ITAT MUMBAIAddition on account of transfer pricing adjustment - Comparable selection - HELD THAT:- While framing the order under section 92CA(3) of the Act in case of the successor company (the present assessee) with whom the erstwhile company merged, the transfer pricing officer had passed an identical order selecting/rejecting the very same comparables by re-characterizing the successor company as a KPO service provider. In an identical order learned Commissioner (Appeals), though, held that the successor company is not a KPO service provider; however, he retained some of the companies selected by the TPO while upholding the rejection of companies selected by the concerned assessee. See MORGAN STAINLEY ADVANTAGE SERVICES P. LTD. VERSUS DY. CIT RANGE 9 (2) MUMBAI [2020 (8) TMI 170 - ITAT MUMBAI] We direct the assessing officer to include R System International Ltd, Allsec Technologies and CG Vak Software & Exports Ltd as comparables. Whereas, he is directed to exclude eClerx Services Ltd, Coral Hubs Limited (earlier, Vishal Information Technologies Limited) and Crossdomain Solutions Limited from the list of comparables. After completing the aforesaid exercise, he must compute the ALP of the international transactions.
|