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TMI Blog2018 (1) TMI 1545X X X X Extracts X X X X X X X X Extracts X X X X ..... nd therefore, if any amount is reduced from Export Turnover than Total turnover also goes down by the same amount automatically. Respectfully following this judgment, this issue is decided in favour of the assessee Exclusion of various comparables - HELD THAT:- Assessee company undertakes Software Development services under a Research Development Agreement with its parent company thus companies thus companies functionally dissimilar with that of assessee need to be deselected from final list. Deduction u/s 80G in respect of contribution made towards Calamity Relief Fund of Karnataka - HELD THAT:- The bench pointed out that there is no discussion on this aspect in the draft assessment order, order of DRP and in Final assessment order and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he appeals and cross objection are against the order of the ITO, Ward -2(1)(1), Bengaluru, passed u/s.143(3) r.w.s.144C(13) of the Act, dt.29.01.2015, in pursuance to the directions of the Dispute Resolution Panel, for the A. Y. 2010-11. IT(TP)A.256/Bang/2015 - By the Revenue : 2. First we take up the appeal of the revenue. Grounds raised are as under :- The ld. DR of revenue submitted that Grounds 1, 7 & 8 are general and no separate adjudication is called for in respect of these grounds. Regarding remaining grounds, he supported the draft assessment order and he also filed written submissions which mainly say that in T. P. analysis, the comparability cannot be decided on the basis of precedent case as the facts of each case on recor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... currency from Total turnover for the purpose of computing the deduction to be allowed u/s 10A because such expenses were reduced by the AO from Export Turnover. As per the judgment of Hon'ble Karnataka High Court rendered in the case of Tata Elxsi Ltd. (Supra), it was held that total turnover is sum total of Domestic Turnover and export Turnover and therefore, if any amount is reduced from Export Turnover than Total turnover also goes down by the same amount automatically. Respectfully following this judgment, this issue is decided in favour of the assessee and accordingly, Grounds 2 & 3 are rejected. 4. Regarding remaining grounds i.e. grounds 4 to 6 in respect of exclusion of various comparables, the issue regarding exclusion of R S Sof ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h Ltd. And 6) Persistent Systems Ltd. Because it was held by the tribunal in this case that these are not good comparables for the reasons given by the tribunal in this order and no difference in facts could be pointed out by the learned DR of the revenue. Accordingly, Ground No. 4 & 5 are rejected and Ground No. 6 is partly allowed. 5. In the result, the appeal of the revenue is partly allowed. CO No.71/Bang/2017 - By the assessee : 6. Regarding the C. O. of the assessee, learned AR of the assessee submitted that the C. O. is not pressed and accordingly, the C. O. is dismissed as not pressed. 7. In the result, the C. O. of the assessee is dismissed. IT(TP)A No.506/Bang/2015 - By the assessee : 8. The assessee has raised as many ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the finding of DRP Hyderabad in the case of Sumtotal Systems India Pvt. Ltd.as per which, the DRP held in that case that L & T Infotech Ltd. should be excluded mainly in view of huge turnover and huge brand value. He submitted that as per this tribunal order, this is not a good comparable. Learned DR of the revenue supported the DRP order in the present case. 11. We have considered the rival submissions. We have already seen while deciding the appeal of the revenue that this tribunal order is applicable in the present case. Hence, respectfully following this tribunal order, we direct the AO/TPO to exclude L & T Infotech Ltd. from the final list of comparables. Ground No. 13 is allowed. 12. Ground No. 15 is about inclusion of R S Soft ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as not granted but adjusted against old demand and therefore, section 234D is not applicable. Learned DR of the revenue supported the assessment order. 15. We have considered the rival submissions. As per section 234D, where any refund is granted to the assessee under section 143 (1) and no refund is due on regular assessment or refund so granted u/s 143 91) exceeds the refund as per regular assessment, the assessee is liable for interest u/s 234D. In our considered opinion, for applicability of section 234D, issue of refund voucher is not a prerequirement and adjustment of refund against old demand is also granting of refund and section 234D is applicable if such refund is more than the refund allowable on regular assessment. In this vie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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