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| The Tax Publishers2019 TaxPub(DT) 3832 (Del-HC) INCOME TAX ACT, 1961
Section 92C
This Court was not persuaded to hold that Tribunal erred in law in excluding them from the list of comparables for the purposes of determining the ALP of the assessee's international transactions.
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Transfer pricing - Computation of arm's length price - Selection of comparables -
Assessee was engaged in data processing which is rendered to overseas affiliated and unrelated entities, based on the specific requirements of the customers. Revenue urges that of the ten excluded comparables, Tribunal ought not to have excluded Infosys BPO Limited only on the basis of its earlier order for assessment year 2009-2010 since in that earlier order Tribunal had wrongly proceeded on the basis that the said comparable had to be excluded on the ground of high turnover. Held: The comparable discussed in Agnity India Technologies Pvt. Ltd. . [(2013) ITA 1204/2011 : 2013 TaxPub(DT) 2693 (Del-HC)] which was sought to be excluded was an Infosys Group Company which undoubtedly was 'a giant corporation'. Court had with help of the chart produced by Revenue examined the facts in relation to each of nine other comparables. This Court was not persuaded to hold that Tribunal had erred in law in excluding them from the list of comparables for the purposes of determining the ALP of the assessee's international transactions.
REFERRED : Pr. CIT v. Oks Span Tech. (P) Ltd. [ITA 789/2017, dt. 9-10-2017] Chryscapital Investment Advisors (India) (P) Ltd. v. Dy. CIT 2015 376 ITR 183 (Del) : 2015 TaxPub(DT) 2181 (Del-HC) CIT v. Agnity India Technologies (P) Ltd. (2013) ITA 1204/2011 : 2013 TaxPub(DT) 2693 (Del-HC) OKS Span Tech Pvt. Ltd. v. DCIT [ITA No. 1551/Del/2015, dt. 23-8-2018]
FAVOUR : In assessee's favour
A.Y. :
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