2023 (9) TMI 980

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..... arability analysis, whereas the India law and the international jurisprudence recognize the reality that there cannot be an exact comparable in a given situation without any differences without appreciating that such stringency will defeat the purpose of flexibility provided in comparability analysis for determination of ALP 2. Whether in the facts and circumstances of the case the Ld. CIT(A) was correct in law to rely upon another case without examining the fact of the case and subsequently directing to exclude comparables on the basis of parity. 3. Whether in the facts and circumstances of the case the Ld. CIT(A) was correct in law to rejecting Infosys Ltd., Thirdware Ltd., Larsen & Tubro Infotech Ltd., Harton Communication (seg.), Te .....

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..... ity stated to be engaged in the business of primarily as a software programming and application developer, providing support services to other group entities. In other words, the assessee provides software development support, programming and applications support for switching integration and PBX system and specifically deals with IVR, call centre, AIC and CMS technologies. Thus, basically, the assessee provides software development services and information technology enabled services (ITES). However, presently we are concerned with software development service segment. 7. In the year under consideration, the assessee entered into various international transactions with its overseas associate and enterprise and earned revenue. The assessee .....

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..... clusion of Infosys Ltd. as a comparable on account of high turnover, having business segments of software development and sale of products, diversified business operations, substantial intangible assets, brand value, intangible and R & D expenses etc. It is observed, considering the aforesaid aspects, the coordinate Bench in assessee's own case in assessment year 2007-08 has excluded Infosys Ltd. as a comparable while deciding assessee's appeal in ITA No. 5528/Del/2011 dated 18.09.2015. Identical view was expressed by the coordinate Bench while deciding assessee's appeal in assessment year 2008-09 in ITA No. 146/Del/2013 dated 17.06.2016. Learned counsel appearing for the assessee has made a statement at bar that in assessment year 2014-15, .....

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