2018 (6) TMI 1612 - AT - Income Tax

TP adjustment - cross objections seeking exclusion of (i) Sankya Infotech Ltd., (ii) Extensys Software Solutions Ltd., and (iii) Thirdware Solutions Ltd. - whether CIT(A) has erred by accepting certain comparable companies using unreasonable comparability criteria? - HELD THAT - The assessee-company raised a general ground and no specific ground of cross objection was raised seeking exclusion of the above three companies. Thus, the question of returning a finding by the Tribunal on the comparability of three comparable companies does not arise. Therefore, the MP on this ground is dismissed.

Summary

The Appellate Tribunal ITAT Bangalore dismissed a Miscellaneous Petition filed by an assessee-company seeking modification of a Tribunal order. The Tribunal found that the assessee did not raise specific grounds seeking exclusion of certain comparable companies, so the petition was dismissed. The order was pronounced on 8th June, 2018.