9911796707
TMI Blog2024 (8) TMI 1497X X X X Extracts X X X X X X X X Extracts X X X X ..... 2012-2013 and 2013-2014 had rejected the comparables. Once the TPO himself has not accepted the said comparable which were considered for assessment proceedings in question while examining the subsequent assessment proceedings, we do not find any justification to allow the inclusion of such comparables for the first time for the year 2009-2010. Moreso, as even for the previous years, the comparables which may have taken into consideration as accepted by the TPO, the departure of course be made for each year assessment but as noticed by both the appellate authorities, the Revenue would have to establish compelling reasons for such departure. No substantial question of law which needs to be examined afresh by this Court after the concurrent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in setting aside the order. 4. Learned counsel for the appellant has taken this Court to the order passed by the TPO to submit that the tax payer s submissions were rightly not accepted by the TPO with regard to having used multiple air data for the purpose of determining the margins of comparables for the year 2008-2009. It is submitted that as per Rule 10B (4) of the Rules, the data of the comparable transaction should be the data pertaining to the financial year in which the tax payer has entered into the international transaction and the same is mandatory. While proviso to 10(b) (4) also mentions of considering the earlier period data that the same would only have an influence of determination of transfer prices in relation to the tra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it is a service industry. It has further observed that in order to neutralize the differences on account of carrying high or low inventory, trade payables and trade receivables, as the case may be, it becomes eminent to allow working capital adjustment so as to bring the case of the assessee at par with other functionally comparable entities. It has further, by relying on the decision of the Tribunal in the case of Navisite India Pvt. Ltd. vs. ITO has held that the component of working capital deployed should be considered on annual basis with the average of opening and closing figures. 11. Before us, Revenue has not pointed to any distinguishing feature in the facts of the case in the year under consideration and that of the earlier year. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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