TaxTMI 
TaxTMI 
2017 (8) TMI 38
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....of the Arms Length Price by the Transfer Pricing Officer upon a fresh benchmarking? 3. The Appellant/Assessee is a wholly owned subsidiary of Bechtel Corporation, USA. Its services include construction and construction management; development and financing of projects and customers internationally; engineering and technology; procurement; project management; safety; and sustainability development. 4. During the AY under consideration, the Assessee, as a captive service provider, was engaged in the business of providing Engineering Design Support Services ('EDS') in the nature of export of customised electronic data in the form of designs, drawings, calculations and other relevant datasheet relating to Project Engineering and Commercial So....
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....e by the TPO. 8. The Deputy Commissioner of Income Tax/Assessing Officer ('AO') passed a draft assessment order on 3rd February, 2015 proposing to add the aforementioned amounts as recommended by the TPO to the total income of the Assessee. The Assessee then filed objections before the Dispute Review Panel ('DRP'). The DRP by order dated 28th October, 2015 issued the following directions: EDS segment: the DRP re-characterized the functional profile of the Appellant as being engaged in providing Engineering Procurement Construction ("EPC") and directed to exclude four companies from comparable set (Ashok Leyland Project Services Ltd, Bengal SREI Infrastructure Development Ltd., NTPC Electric Supply Company Ltd. and Pallavan Transport Consu....
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....ntion of comparable relied upon by both the Assessee as well as the Revenue. ii. As far as the FAS segment was concerned, it was stated that as regards re-characterising of the profile of the Assessee as a Knowledge Process Outsourcing ("KPO") service provider, it had not offered any arguments. The ITAT directed exclusion of TCS E Serve Ltd. as a comparable as it was functionally different. iii. As regards the IT Infra segment, the ITAT remanded the selection of Sankhya Infotech Ltd. and Sasken Communications Technologies Ltd. to the file of the TPO as the ground against their selection was being presented for the first time before the ITAT. The ITAT directed exclusion of Infosys Limited, E-Infochips India Pvt. Ltd. and E-Zest Solutions a....