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TMI Blog2020 (8) TMI 834X X X X Extracts X X X X X X X X Extracts X X X X ..... e tribunal is a mistake apparent from record in the case of Honda Siel Power Products Ltd. [ 2007 (11) TMI 8 - SUPREME COURT] . Accordingly, the Ground 3(l) in so far as it is related to I2T2 India Limited deserves to be recalled. Ground of appeal No.4C pertains to erroneous computation of TP Adjustment of ITES segment by TPO taking into account both domestic and international transactions. The Ground of appeal No.4D pertains to foreign exchange gains arising from the provision of services in ITES segment, and was correctly remanded to the file of TPO. But the working capital adjustment referred in line 3 Para 10 above does not pertain to the above grounds and has to be excluded and whereas TP adjustment in non-AE transactions relates to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respect of Ground of appeal No.3, where the assessee sought inclusion of 7 companies in the list of comparable for ITES segment. Whereas the Hon'ble Tribunal has rejected the comparable M/s. I2T2 India Limited for inclusion in Para 7(iv) on page 23 of the order as the income from export services is higher and is read as under : 7(iv) I2T2 India Limited : This comparable was sought to be included by the assessee but was rejected by the TPO and RPT data are not available in the Annual Report. The DRP has observed that the company does not specify the filters adopted by the TPO and on perusal of the Annual Report, the company is in ITES industry services and is not comparable to the assessee. On perusal of the Annual Report, Paper Bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10. Further, the learned Authorized Representative argued on Ground of Appeal No.4C and 4D in respect of Revenue not considering the foreign exchange gain and Working Capital Adjustment. Whereas the TP Adjustment was made to non-AE transactions and foreign exchange gain in ITES has to be considered. Considering these facts, we restore this disputed issue to the file of the TPO to consider the assessee s submissions and facts envisaged for determination of ALP. Accordingly, Ground of appeal of the assessee is allowed for statistical purposes. 6. The contentions of the LdAr that Ground of appeal No.4C pertains to erroneous computation of TP Adjustment of ITES segment by TPO taking into account both domestic and international transactio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edit for advance tax and self-assessment tax paid by the Appellant, as claimed in the return of income 9. The Ld. AO/Ld. TPO erred in law in erroneously not granting credit for Minimum Alternate Tax (MAT), as claimed in the return of income under section 115JAA of the Act. We found that there are no observations of the tribunal on these two grounds of appeal and there is a mistake apparent on record. Accordingly, we recall the impugned order of the Tribunal for limited purpose to adjudicate these grounds of appeal. Accordingly, Ground No.3(l), 8 9 are recalled. We direct the registry to post the appeal for hearing on 09.09.2020 for limited purpose and inform the parties. 8. In the result, the misc. petition filed by the assessee is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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