9911796707
TMI Blog2014 (12) TMI 1157X X X X Extracts X X X X X X X X Extracts X X X X ..... inference that there is mutually contradictory information in the public domain pertaining to the said entity. In other words, its functions in annual report and public domain differ. Faced with this situation, we are of the view that a remand order simpliciter will not meet the ends of justice. Thus, in the larger of interest of justice, we deem it appropriate that the impugned ‘PLI’ has to be decided somewhere between 20% and 32.8% i.e @ 23%. The assessee’s grounds are partly accepted. The Assessing Officer is directed to pass a consequential order computing upward adjustment accordingly. - Decided partly in favour of assessee. - I.T.A.No.596/Mds/2014 - - - Dated:- 12-12-2014 - SHRI A. MOHAN ALANKAMONY AND SHRI S. S. GODARA, JJ. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g external comparables from Prowess Database. The relevant turnover filter adopted ranged from ₹ 10 to ₹ 40 crores. The assessee had initially chosen two comparables namely M/s AOK Inhouse BPO Services and M/s Sundaram Business Services Ltd. It also added a third additional comparable M/s Black Stone group Technologies Pvt. Ltd. The TPO in his order dated 8.1.2013 rejected their comparability by citing functional dissimilarity and alike reasons. This eliminated all the three entities. Thereafter, the TPO widened the turnover filter from ₹ 1 crores to 250 crores. He zeroed on to five companies namely, M/s ICRA Online (Seg), Eclerx Services Ltd, Genesys International, KLG Systel and Neilsoft Ltd. having PLIs of 43.16%, 46. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he primary source of income of Genesys and hence not comparable with the assessee's functions. This Panel finds that the TPO in the TP order has taken this Company as all uncontrolled comparable after taking objections of the Assessee into consideration and decided that is comparable company as follows- Genesys International Corporation Limited is engaged in providing Geographical Information services comprising of Photogrammetry, Remote Sensing, Cartography, Data conversion and other computer based related services. Here again also none of the activities mentioned against this company, was carried on by the assessee and are not comparable to the assessee s functions anytime during the previous year. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s company may be doing other jobs also but core functions performed by the Assessee Company and this uncontrolled comparable remain the same. The TPO has rightly concluded that Genesys is entirely an engineering services company and it provides CAD CAM designs (including 2D,3D models), functions very similar to that of the assessee company. Therefore, this Panel considers Genesys International Corporation Ltd as proper uncontrolled comparable and hence, the objection raised by the Assessee against it is rejected. This has culminated in the impugned addition being made in the assessment order. Therefore, the assessee is in appeal. 6. We have heard both parties and gone through the case file. The assessee has restricted its challenge t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EERaceway AutoPlant AutoPIPE CADWorks CADPIPE CAESAR ProSteel PlantSpace ProEngineer AutoCAD Instrumentation DesignIT MicroStation PDMS STAAD Services available: 2D to 3D CAD Conversion and Migration 3D Model development-PDS, PDMS, CATIA, AutoPlant, PlantSpace Instrumentation/Electrical Database Conversion, Migration, Clean-up Legacy Data conversion and Migration Intelligent Piping and Instrumentation Diagram (P ID) Process Flow Diagram (PFD) Creation Genera ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
