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TMI Blog2022 (8) TMI 1435X X X X Extracts X X X X X X X X Extracts X X X X ..... unt the remaining 15 companies. X X X X Extracts X X X X X X X X Extracts X X X X ..... igital Services Ltd Yes 4. Asit C Mehta Fin Services Ltd Yes Yes 5. Ask Me Info Hubs Ltd Yes 6. Bodhtree Consulting Ltd Yes Yes 7. Caliber Point Business Solutions Yes 8. Cosmic Global Ltd Yes 9. Datamatics Fin Services Ltd Yes 10. Eclerx Services Ltd Yes Yes 11. Genysys International Corp Ltd Yes 12. ICRA Online Ltd Yes 13. Informed Technologies India Ltd Yes 14. Infosys BPO Ltd Yes Yes 15. Maple Esolutions Ltd Yes Yes 16. Mold-Tek Technologies Ltd Yes Yes 17. Spanco Tele-systems & solutions Yes 18. Sparsh BPO Ltd Yes 19. Vishal Information Technologies Yes Yes 20. Wipro Ltd Yes Yes HIGH COURT REMANDED CASES - ADDITIONAL 21. AllsecTehnologies Ltd 22. Flextronics Software Sys ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Technologies Ltd:- The assessee submitted that this company is a KPO company and hence it is functionally different. Further, during the year under consideration, it has demerged its Plastics division into a separate listed entity, which is an extra ordinary event. The Tribunal has excluded this company in AY 2008-09 (ITA No.6877/Mum/2012) in the assessee's own case. The TPO himself has excluded this company in the assessee's own case in AY 2006-07. The Ld A.R also relied upon the decision rendered by the Tribunal in the case of Stream International Services (ITA No.8290/Mum/ 2011 dated 10th October, 2014 ) in AY 2007-08. Thus, we notice that this company has been held as not a good comparable in various years in the assessee's own case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dingly, we direct exclusion of this company. (v) Asit C Mehta Financial Services Ltd:- The assessee submitted that this company is rendering ITES services and also engaged in providing portfolio management services. However, segmental details are not available with regard to the above said two segments. The Tribunal has excluded this company in the assessee's own case in AY 2006-07 (ITA No.690/Mum/2016). The Ld A.R also relied upon the decision rendered by the Tribunal in the case of Stream International Services (ITA No.8290/Mum/2011 dated 10th October, 2014 ) in AY 2007-08. Thus, we notice that this company has been held as not a good comparable in various years in the assessee's own case and in the hands of other assessee's also. Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yer and is possessing significant intangibles. This company has spent about 8.5% of its revenue towards R & D Activities. Further, this company has had 9 acquisition arrangements during this year. The Ld A.R also relied upon the decision rendered by the Tribunal in the case of Stream International Services (ITA No.8290/Mum/2011 dated 10th October, 2014 ) in AY 2007-08. Thus, we notice that this company has been held as not a good comparable in various years in the assessee's own case and in the hands of other assessee's also. Accordingly, we direct exclusion of this company. (ix) Maple E-Solutions Ltd:- The assessee contended that the promoters of this company have been charged with fraud cases by CBI. Further, the profit trend is very ..... X X X X Extracts X X X X X X X X Extracts X X X X
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