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TMI Blog2018 (7) TMI 483X X X X Extracts X X X X X X X X Extracts X X X X ..... ate- For the Respondent JUDGMENT 1. The Appellants - Revenue have filed this appeal raising purported substantial questions of law arising from the Order of the learned Income Tax Appellate Tribunal, Bench B , Bangalore, Annexure A dated 19/06/2015 in IT(TP)A.No.1214/Bang/2014 for AY 2009-10. 2. The appellants - Revenue have suggested the following substantial questions of law for our consideration, which are quoted below for ready reference: - 1. WHETHER, in the circumstances of the case, the ITAT is right in holding that Kals Information Systems Ltd, cannot be taken as comparable, being functionally different when it satisfies all the qualitative and quantitative filters applied by the TPO? 2. WHETHER, the ITAT is rig ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mparability cannot be judged on the basis of projected information in the Annual Report without examination of the corresponding financial data from the financial statement. One needs to go deep into the actual facts and activities and source of revenue rather than the inflated picture projected in the management commentary. The real data are to be examined to arrive at a conclusion of nature of functional profile and source of revenue of the comparable company. We further note that in the case of M/s 3DPLM Software Solutions Ltd (supra) the coordinate Bench of this Tribunal found that this company is a functional comparable to the software development services. In view of the facts and circumstances of the case, we are of the considered op ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uld 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 applied or not, do not in our considered opinion, give rise to any substantial question of law. 56. We are therefore of the considered opinion that the present appeals filed by the Revenue do not give rise to any substantial question of law and the suggested substantial questions of law do not meet the requirements of Section 260-A of the Act and thus the appeals filed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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