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of <h1>Tribunal rulings on restoration to DRP and exclusion of comparables in IT and ITES segments</h1> <h3>M/s. Target Corporation India Pvt. Ltd. Versus DCIT, ACIT, Bangalore</h3> M/s. Target Corporation India Pvt. Ltd. Versus DCIT, ACIT, Bangalore - TMI Issues:1. Rectification of apparent mistakes in the combined Tribunal orders dated 09.06.2017 and 31.08.2017.2. Whether the matter should be restored back to the file of DRP or AO/TPO in case of cryptic directions by DRP.3. Exclusion of comparable companies in IT and ITES segments based on Tribunal orders.Issue 1: Rectification of Apparent MistakesThe assessee filed four M.Ps. claiming apparent mistakes in the combined Tribunal orders. The first two M.Ps. (314 & 315/Bang/2017) were related to the contention that the matter should have been restored back to the file of DRP instead of AO/TPO due to cryptic directions by DRP. The Tribunal referred to a similar case involving IBM India Pvt. Ltd. and held that not all cases require restoration to DRP, thus dismissing M.Ps. 314 & 315/Bang/2017.Issue 2: Restoration to DRP or AO/TPOThe Tribunal clarified that the restoration of matters to the file of AO/TPO after finding DRP directions cryptic does not constitute an apparent mistake in the Tribunal order. Therefore, it held that there was no apparent mistake in the Tribunal order dated 09.06.2017 and dismissed M.Ps. 314 & 315/Bang/2017.Issue 3: Exclusion of Comparable CompaniesThe remaining two M.Ps. (316 & 317/Bang/2017) concerned the exclusion of comparable companies in IT and ITES segments. The Tribunal noted discrepancies in the Tribunal order's findings regarding the exclusion of four comparables in the IT segment. After rectifying the mistake in the order, the Tribunal allowed M.Ps. 316 & 317/Bang/2017, directing the exclusion of certain comparables in the IT and ITES segments based on Tribunal orders.In conclusion, the Tribunal dismissed M.Ps. 314 & 315/Bang/2017 while allowing M.Ps. 316 & 317/Bang/2017, addressing issues related to the restoration of matters to DRP or AO/TPO and the exclusion of comparable companies in IT and ITES segments based on Tribunal orders.
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