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TMI Blog2019 (9) TMI 921X X X X Extracts X X X X X X X X Extracts X X X X ..... ys And Cosmic Global Ltd. was different from the Respondent. Therefore, would not be an appropriate comparable. Risk adjustment - HELD THAT:- Tribunal allows the Respondent s appeal by way of remand to the Assessing Officer to examine the issue of risk adjustment while arriving at the ALP. In fact, it follows its earlier order [ 2016 (7) TMI 238 - ITAT PUNE] in respect of Assessment Year 2008-09 in respect of the same Respondent. From The order of tribunal, no substantial question of law arises - appeal of the revenue dismissed. - INCOME TAX APPEAL NO. 411 OF 2017 - - - Dated:- 3-9-2019 - M.S. SANKLECHA NITIN JAMDAR, JJ. Mr. Sham Walve with Mr. Pritish Chatterjee, for the Appellant. P. C:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvestment Advisors (India) Pvt. Ltd. v/s. DCIT [TS-HC-2015(Delhi)-TP] (d) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in directing to grant risk adjustment without appreciating that the assessee has failed to show why risk adjustment is warranted by demonstrating the link of risk with the financial results of comparable? 3 Re. Question (a):- (i) Mr. Walve, learned Counsel for the Revenue very fairly states that the issue raised herein stands concluded against the Revenue and in favour of the Respondent-Assessee by the decision of this Court in Pr. CIT v/s. M/s. Sandvik Asia Pvt. Ltd., (Income Tax Appeal No.1088 of 2015) dated 26th April, 2018; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r A. Y. 2008-09 to discard M/s. Genesys from the list of comparables. This after recording that there is no change in the business profile of the two companies in the subject Assessment Year from that in Assessment Year 2008-09; (iii) Being aggrieved by the order dated 21st October, 2015 of the Tribunal for Assessment Year 2008-09, the Revenue filed an appeal to this Court being Pr. CIT v/s. M/s. Visteon Engineering Centre (Pvt. Ltd.) (Income Tax Appeal No.1366 of 2017); (iv) In fact, today we dismissed the Revenue s above appeal being Income Tax Appeal No. 1366 of 2017 relating to the same Respondent-Assessee for the Assessment Year 2008-09 on an identical issue. As the Revenue is not able to show any distinction in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lly different from the Respondent. Thus, the question of exclusion of M/s. Cosmic Global Ltd., on account of super profits become academic; (ii) In the above view, question (c) does not give rise to any substantial question of law. Thus, not entertained. 6. Re. Question (d):- (i) The impugned order of the Tribunal allows the Respondent s appeal by way of remand to the Assessing Officer to examine the issue of risk adjustment while arriving at the ALP. In fact, it follows its earlier order dated 21st October, 201 in respect of Assessment Year 2008-09 in respect of the same Respondent; (ii) The Revenue being aggrieved by the order dated 21st October, 2015 passed by the Tribunal in respect of Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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