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TMI Blog2018 (7) TMI 481X X X X Extracts X X X X X X X X Extracts X X X X ..... .No.24/2016 - - - Dated:- 29-6-2018 - Dr. Vineet Kothari And Mrs. S. Sujatha, J.J. Mr. K.V. Aravind, Adv.- For the Appellant JUDGMENT 1. The Appellants-Revenue have filed this appeal u/s.260A of the Income Tax Act, 1961, raising purportedly certain substantial questions of law arising from the order of the ITAT, Bangalore Bench A , Bangalore, dated 07.08.2015 passed in IT(TP)A No.1288/Bang/2014 (M/s. Analog Devices India Private Limited vs. The Dy. Commissioner of Income Tax) for A.Y.2009-10. 2. The proposed substantial questions of law framed in the Memorandum of appeal by the Appellants-Revenue are quoted below for ready reference:- (1) Whether on the facts and in the circumstances on the case, the Tribunal was righ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Pricing and Transfer Pricing Adjustments made by the concerned authorities below. We consider it appropriate to quote from the order of Tribunal rejecting the Application seeking a review before Tribunal as hereunder:- Regarding substantial question of law No.1 - 6.4.1. We have considered the rival contentions and perused and carefully considered the material on record; including the judicial pronouncement cited. We find that the coordinate bench of this Tribunal in the case of Cisco Systems (India) Pvt. Ltd. in IT(TP)A No.271/Bang/2014 for Assessment Year 2009- 10 has excluded this company from the list of comparables on the ground that since it is in the business of software products and engaged in providing open a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n ITA No.227/Bang/2011 wherein it was held that a company is to be excluded from the list of comparables in the event of its RPT being in excess of 15%. It is ordered accordingly. Regarding substantial question of law No.3 - 9.2 We have heard both parties in the matter and perused and carefully considered the material on record; including the judicial pronouncement cited and placed reliance upon by the assessee. We find that the co- ordinate bench of the Tribunal in the case of Mindteck (India) Ltd. (supra) has considered the issue and held as under at para 11 thereof:- :- 9.3 In the above order, the co-ordinate bench of the Tribunal has held that foreign exchange ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Double Taxation Avoidance Treaties (DTAA), interpretation of provisions of the Income Tax Act or Overriding Effect of the Treaties over the Domestic Legislations or the questions like Treaty Shopping, Base Erosion and Profit Shifting (BEPS), Transfer of Shares in Tax Havens (like in the case of Vodafone etc.), if based on relevant facts, such substantial questions of law could be raised before the High Court under Section 260-A of the Act, the Courts could have embarked upon such exercise of framing and answering such substantial question of law. On the other hand, the appeals of the present tenor as to whether the comparables have been rightly picked up or not, Filters for arriving at the correct list of comparables have been rightly ..... X X X X Extracts X X X X X X X X Extracts X X X X
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