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TMI Blog2024 (7) TMI 1548X X X X Extracts X X X X X X X X Extracts X X X X ..... as excluded the same from the list since it was also engaged in software development. Tribunal had upheld the exclusion of that comparable. We however note that it had taken a slightly divergent view insofar as Accentia Technologies Ltd. is concerned and which too was found to be engaged in software development. Eclerx Services Ltd. - Respondents would contend that it was essentially engaged in providing Knowledge Process Outsourcing [ KPO ] services and could not have been included as a comparable insofar as the assessee was concerned and which stood confined to providing BPO services. According to Mr. Rai, however, the aforesaid segmentation has not been examined or accorded consideration. We consequently admit the instant appeal on the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this case, Hon ble ITAT was right in rejecting the company M/s Acropetal Technologies Ltd. as comparable company ignoring the fact that the TPO had ruled engineering and design services are under ITES services which is comparable to the functions of the assessee? C. Whether on the facts and circumstances of this case, Hon ble ITAT was correct in rejecting M/s Eclex Services Ltd. as comparable company and propounding the concept of KPO vs BPO in comparability analysis, whereas in reality there is seamlessness in ITES functions and the comparability analysis is based upon functions, assets and risks? D. Whether on the facts and in the circumstances of this case, the Hon ble ITAT was correct in rejecting the comparable Infosys BPO Limited TCS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... centia Technologies Ltd. is concerned and which too was found to be engaged in software development. 5. Insofar as Eclerx Services Ltd. is concerned, the respondents would contend that it was essentially engaged in providing Knowledge Process Outsourcing [ KPO ] services and could not have been included as a comparable insofar as the assessee was concerned and which stood confined to providing BPO services. According to Mr. Rai, however, the aforesaid segmentation has not been examined or accorded consideration. 6. We take note of the following findings which came to be rendered by the Tribunal in Transcend MT Services Pvt. Ltd. v. Income Tax Officer (ITA No. 6093/Del/2012):- 10.2 Having gone through the orders of the authorities below, we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces, ownership of IP rights, expenditure on R D etc. and, hence, comparable with the assessee. We have similar observations, when we compare the assessee before us with Wipro Ltd. In the same decision, the coordinate bench of the Tribunal has also given its findings on the comparison of Infosis BP Land with this observation that there is a vast difference not only in the size, but also the functional profile, assets employed and risks undertaken by Infosis vis-a-vis the assessee, hence, it is not comparable. Similar observations are applicable in the case of present assessee as well. Again in the case of ICC India P. Ltd. Vs. DCIT (supra) observations on the comparability of Wipro, Infosis BP Ltd., HCL Comnet Systems Services Ltd., Accentia ..... X X X X Extracts X X X X X X X X Extracts X X X X
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