9911796707
TMI Blog2023 (4) TMI 675X X X X Extracts X X X X X X X X Extracts X X X X ..... are owned by the company indicates that it is primarily in business of internet related business.FAR not comparable. Hence, the decision of the ld. CIT(A) is accepted. Info Edge (India) Ltd company owns several websites that serve as online search portal company to the needs of the customers. A perusal of the several websites which are owned by the company indicates that it is primarily in business of internet related business.FAR not comparable. Hence, the decision of the ld. CIT(A) is accepted. Crystal Hues Ltd. - Assessee has no objection to consider this as a comparable. The decision of the ld. CIT(A) is not accepted. Quippo Valuers and Auctioneers Pvt. Ltd. company which is in activities of auctions and valuations is functionally different from the appellant. The functions involved in auctions are totally different from promotion - FAR not comparable. Hence, the decision of the ld. CIT(A) is accepted. Concept Communications Ltd. corrected OP/OC may be taken - The decision of the ld. CIT(A) is not accepted. DHFL Property Services Ltd company has two activities namely technical consultancy and project advisory, but the segmental results are not available, therefor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erverse in directing the TPO to delete the following comparables i.e. Apitco Limited, DFHL Property Service Limited on the ground of absence of segmental data without considering the fact a mere mention of a segment in the service provided by the comparable company (which may or may not be there) does not indicate presence of segmental data. Further not considering the fact that application of TNMM does not call for rejection of a functionally similar comparable just on the fact that it does not have separate segmental data available. (3) In the facts and circumstances of the case, the order of Ld. CIT(A) is perverse in deleting the Commission expense from the AMP expense without considering the fact that the expenses made toward the commission has a direct impact toward penetration of the market, brand promotion, creation and development of marketing intangibles which belongs to the AE. (4) In the facts and circumstances of the case, the order of Ld. CIT(A) is perverse in deleting the adjustment made by the TPO regarding the AMP issue by putting his reliance on verdict of Hon'ble Delhi High Court in the case of Sony Ericsson Mobile without appreciating the fact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s a 100% subsidiary of Karl Storz GmbH Co. KG. Germany ( Karl Storz Germany ). The Company is engaged in the import and trading of endoscopic instruments and providing after sales services to customers. 5. Assessee also provides marketing and service support to the existing dealer network of Karl Storz Germany in India. The marketing support provided by the Assesses primary encompasses sponsorship of seminars and conferences of prominent associations of the medical community and advertisement campaigns in the print media while service support pertains to warranty repair and exchange of damaged equipment sold by Karl Storz Germany s dealers in India. In return for the services rendered and significant expenses incurred by the Company on marketing, Karl Storz Germany pays commission to Assessee on sales made by existing dealer network of AE in India. The Company also provides post warranty repair and maintenance service on chargeable basis. 6. Return declaring loss of Rs. 34,36,011/- was e-filed on 30.11.2011. During the year under consideration, the assessee has undertaken international transactions with associated enterprises. Under the provisions for Section 92CA of the In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tal) 36.45% 4 Indus Technical Financial Consultants Ltd. 12.05% 5 Inhouse Productions Ltd (Segmental) -0.88% 6 Inmacs Management Services Ltd 50.35% 7 Priya International Ltd (Segmental) 4.32% 8 India Tourism Development Corporation Ltd. -13.78% 9 EDCIL (India) Ltd. 2.34% Arithmetic mean 13.01% 11. The TPO has rejected all comparables selected by the Assessee except I C R A Management Consulting Services Ltd. and IDC (India) Limited vide its order dated 28/01/2015. TPO conducted a fresh search on revised filters. As a result, TPO proposed a final set of 14 comparable with an average margin of 22.91%. However, TPO has left out IDC (India) Limited, which was accepted by the TPO as comparable. 12. The comparables selected by the TPO is as under: Sl. No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s Global Procurement Consultants Ltd. M/s TSR Darashaw Ltd. M/s Quippo Valuers and Auctioneers Pvt. Ltd. M/s Concept Communication Ltd. 14. To include in the final set of comparable pertaining the adjustment on account of MSS. M/s ICC International Agencies Ltd. M/s Priya International Ltd. M/s ICRA Management Consulting Services Ltd. M/s Cyber Media Research Ltd. M/s Quadrant Communications Ltd. 15. As per the direction of the Ld. CIT(A) final set of comparables turn out to be follows: Particulars Margin 1. ICC International Agencies Ltd 36.45% 2. Priya International Ltd 4.32% 3. ICRA Management Consulting Services 15.90% 4. Cyber Media Research Ltd 10.60% 5. Quadrant Communications Ltd 14.58% Average 16.37% 16. The average margin of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as online search portal company to the needs of the customers. A perusal of the several websites which are owned by the company indicates that it is primarily in business of internet related business. FAR not comparable. Hence, the decision of the ld. CIT(A) is accepted. 5. Crystal Hues Ltd. The assessee has no objection to consider this as a comparable. Hence, the decision of the ld. CIT(A) is not accepted. 6. Quippo Valuers and Auctioneers Pvt. Ltd. The company which is in activities of auctions and valuations is functionally different from the appellant. The functions involved in auctions are totally different from promotion. Further no segmental arte available to quantify the extent and profitability of valuation activities which are of a completely different nature. FAR not comparable. Hence, the decision of the ld. CIT(A) is accepted. 7. Concept Communications Ltd. On the facts of the instant case, the corrected OP/OC may be taken. Hence, the decision of the ld. CIT(A) is ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
