Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
Transfer pricing dispute over use of TNMM: tribunal excluded specified comparables (Eclerx Services, Infosys BPO, Accentia) due to functional dissimilarity, directing AO/TPO to revise comparable set. Deduction claims under Section 10A: UB Plaza unit allowed as change of ownership by slump sale does not by itself defeat eligibility (CBDT Circular No.1/2013 noted); Titanium STPI unit remitted to AO for fresh factual and documentary verification and allocation of eligible profits if treated as expansion; STPI unit acquired from Reuters to be allowed. Claims on goodwill depreciation remitted for de novo AO verification; depreciation on software not hit by withholding provisions as it is an allowance, not revenue expenditure.
Transfer pricing dispute over use of TNMM: tribunal excluded specified comparables (Eclerx Services, Infosys BPO, Accentia) due to functional dissimilarity, directing AO/TPO to revise comparable set. Deduction claims under Section 10A: UB Plaza unit allowed as change of ownership by slump sale does not by itself defeat eligibility (CBDT Circular No.1/2013 noted); Titanium STPI unit remitted to AO for fresh factual and documentary verification and allocation of eligible profits if treated as expansion; STPI unit acquired from Reuters to be allowed. Claims on goodwill depreciation remitted for de novo AO verification; depreciation on software not hit by withholding provisions as it is an allowance, not revenue expenditure.
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