2015 (9) TMI 1554

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ot clear, is another aspect on which the Court is unable to hold that the impugned order of the ITAT is perverse. The ITAT has passed the impugned order after examining all the relevant materials. No substantial question of law
HON'BLE DR. JUSTICE S.MURALIDHAR AND HON'BLE MR. JUSTICE VIBHU BAKHRU For the Appellant : Mr N. P. Sahni, Senior Standing Counsel with Mr Nitin Gulati, Junior Standing Counsel. For the Respondent : Mr C. S. Aggarwal, Senior Advocate with Mr Prakash Kumar, Advocate. O R D E R 1. This appeal by the Revenue is directed against an order dated 18th February, 2015 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No.679/Del/2014 for Assessment Year ('AY') 2009-10. 2. The Assessee is a private l .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... y the TPO by his report dated 21st December 2012 since "besides geographic segment, it has been clearly stated that income is from software division." On the basis of the TPO's report, the AO by a draft order the assessment order took the average PLI as 24.55 % and on that basis that ordered a TP adjustment of ₹ 4,62,71,394/-. The Dispute Resolution Panel rejected the Assessee's objections by an order dated 31st October 2013. Thereafter the AO passed the final assessment order dated 24th December, 2013. 5. Before the ITAT, the Assessee objected to M/s Goldstone Technologies being adopted as a comparable on the ground that, first, it showed segmental results for its US operations and, second, the basis of allocation of costs and compu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... submissions and having examined the orders of the TPO the DRP as well as the ITAT, this Court is not persuaded that the impugned order of the ITAT suffers from any illegality. The view taken by the ITAT that markets in the US and the India were fundamentally different and, that the results of the Indian segment of the US operations of Goldstone Technologies constituted an inappropriate a comparable cannot be said to be perverse. The view of the ITAT that basis of allocation of costs and, therefore, the working of the profits was also not clear, is another aspect on which the Court is unable to hold that the impugned order of the ITAT is perverse. The ITAT has passed the impugned order after examining all the relevant materials. 8. Consequ .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X