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TMI Blog2018 (7) TMI 2178X X X X Extracts X X X X X X X X Extracts X X X X ..... ting to the Assessment Year 2009-10. 2.The appeal has been admitted on 08.12.2015 to consider the following substantial questions of law framed in the memorandum of appeal, which are quoted hereunder: "1. Whether on the facts and in the circumstances of the case, the Tribunal is right inlaw in excluding comparables Company having turnover exceeding Rs. 200 Crores by following its earlier decision which has not reached finality and even when the TPO had properly selected comparables on the basis of facts on record? 2. Whether on the facts and in the circumstances of the case, the Tribunal is right inlaw in excluding comparables such as Bothree Consulting Ltd., Kals Information Systems Ltd., Tata Elxsi and Infosys Technologies Ltd., and th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 92CA of the Act) and also listed out at para 7.1.1 of this order (supra), should be excluded from the list of comparable companies as the turnover of these companies is in excess of Rs. 200 Crores compared to that of the assessee which is below Rs. 200 Crores (i.e. Rs. 196.67 Crores)." Regarding Substantial Question of Law No. 2: "9. KALS Information Systems Ltd. 9.2 Following the decision of the co-ordinate bench of this Tribunal in the case of Airbus India Operations Pvt. Ltd. (supra) and after taking note that the facts and circumstances under which the aforesaid company was considered by the TPO as comparable to a software development service provider, as is the assessee in the case on hand, for identical reasons, we direct the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 the Revenue are found to be devoid of merit and the same are liable to be dismissed. 57. We make it clear that the same yardsticks and parameters will have to be applied, even if such appeals are filed by the Assessees, because, th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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