9911796707
TMI Blog2016 (12) TMI 1656X X X X Extracts X X X X X X X X Extracts X X X X ..... continues before us as well since the assessee has not been able to substantiate its case that the original comparables had to be accepted since satisfying the relevant pacific filters. Its first argument is accordingly declined. Selection of comparable - Held that:- KPO business entities are not valid comparables to BPO and other IT enabled services as rendered by assessee. - ITA No. 2898/Ahd/2012 (Assessment Year:2008-09) - - - Dated:- 26-12-2016 - Shri Pramod Kumar, And Shri S. S. Godara, JJ. By Assessee : Shri Dhanesh Bajna with Pratik Shah, A.R. By Revenue : Shri M. P. Singh, CIT D.R. ORDER S. S. Godara, This assessee s appeal for assessment year 2008-09 arises against the ACIT, Circle-1(2), Baroda s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... td., Asit C Mehta Financial Services Ltd. and Spanco Ltd. (all segmental) followed by M/s. Coral Hubs Ltd. (formerly Vishal Information Technologies Ltd.), Crossdomain Solutions and Moldtek Technologies having average PLI ratio of 36.16%. The Transfer Pricing Officer s order dated 28.10.2011 rejected assessee s objections and proposed the impugned adjustments. The Assessing Officer then framed draft assessment on 09.12.2011 as per the same. We find the amount involved in the original proposal arising from the impugned adjustment to be of ₹ 1,56,06,649/-. ITA No. 2898/Ahd/2012 ( Lubrizol Advanced Materials India Pvt. Ltd. vs. ACIT) 4. The assessee filed its objections before the Dispute Resolution Panel inter alia pleading that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... logies Ltd. and M/s. Crossdomain Solutions. Ld. Departmental Representative strongly supports inclusion of all of the above entities in the array of comparables. ITA No. 2898/Ahd/2012 ( Lubrizol Advanced Materials India Pvt. Ltd. vs. ACIT) 7. We have given out thoughtful consideration to rival contentions. We first come to M/s. Coral Hubs Ltd., formerly known as M/s. Vishal Information Technologies Ltd. There does not appear to be any dispute that the lower authorities have included this entity as a comparable solely because of the very course of action adopted in the immediate preceding assessment year 2007-08. Learned counsel at this stage filed before us a copy of ITA No.2811/Ahd/2011 decided on 21.10.2015 in assessee s case itself fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rketing Solutions India Pvt. Ltd. (supra) holds that M/s. Acropetal Technologies Ltd. is engaged in providing high end services of engineering design which are totally different from IT enabled services. Ld. Departmental Representative fails to rebut this factual and legal position. We thus direct exclusion of this third entity as well from the array of comparables. 10. This leaves us with assessee s arguments challenging inclusion of M/s. Crossdomain Solution Ltd. It submits herein as well that the said entity is engaged in providing high end and KPO services, development of product suits and IT enabled services as per the case law of Symphony Marketing Solutions India Pvt. Ltd. (supra) which is not a valid comparable since not having a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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