9911796707
TMI Blog2023 (9) TMI 1167X X X X Extracts X X X X X X X X Extracts X X X X ..... st the appellant/revenue by a decision titled Pr. Commissioner of Income Tax-3 v. Fiserv India Pvt. Ltd. [ 2016 (1) TMI 1276 - DELHI HIGH COURT] TP Adjustment - comparable selection - Tribunal excluding two comparables i.e., Wipro Technologies Services Ltd. and Infosys Ltd - HELD THAT:- As it cannot be disputed the fact that assessee is in the business of providing software development servi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt of the holiday declared on 08.09.2023] 1. This appeal concerns Assessment Year (AY) 2011-12. 2. Via the instant appeal, the appellant/revenue seeks to assail the order dated 30.10.2018, passed by the Income Tax Appellate Tribunal [in short, Tribunal ]. 3. Mr Ruchir Bhatia, learned senior standing counsel, who appears on behalf of the appellant/revenue, submits that broadly two issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d vis- -vis Tribunal s decision qua AYs 2007-08 and 2008-09. 6.1 Mr Bhatia informs us that the Tribunal has ruled in favour of the respondent/assessee in AYs 2007-08 and 2008-09. However, Mr Neeraj Jain, counsel for the respondent/assessee, says that no appeal has been preferred. 7. As regards exclusion of Wipro Technologies Services Ltd. as comparable is concerned, the Tribunal has relied u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome of the companies. Thus, in the absence of segmental information provided by the companies in respect of the software services, the aforesaid companies have been excluded from the list of the comparables. We do not find any perversity in the approach adopted by the learned ITAT which would call for our inference. The third comparable viz Wipro Technology Services Limited has been held to be d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... error in the approach adopted by the Tribunal, which is otherwise in line with the view taken by the coordinate bench. 10. Before we conclude, we may note that the Tribunal has adverted to the notification dated 18.09.2013. This notification, on the face of it, can have no application in the instant case, as the period in issue is AY 2011- 12. 11. We may note that the guidelines issued by t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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