TaxTMI 
TaxTMI 
2017 (9) TMI 1108
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.... ITA No. 6856/Del/2015 for the Assessment Year ('AY') 2011-12. 3. The issue before the ITAT concerned transfer pricing (TP) adjustments with regard to the arm's length price (ALP) of international transaction undertaken by the Assessee in the AY in question for two segments, viz., (i) Contract Software Development ('CSD') and (ii) Technical Support Services ('TSS'). With the Assessee having adopted TNMM, the questions involved inclusion and exclusion of 'comparables'. 4. As far as the TSS segment is concerned, in its TP Study, the Assessee selected 13 comparables. While accepting only two of the said comparables, the Transfer Pricing Officer ('TPO') in his order dated 15th January 2015 introduced 12 new comparables. The matter then went b....
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....indra Consulting Engineering Limited (Mahindra) and Water and Power Consultancy Services Limited (WAPCOS). The DRP upheld the order of the TPO. In the appeal by the Assessee the ITAT by the impugned order remanded to the TPO the issue concerning exclusion of Mahindra and WAPCOS but failed to give any finding on the inclusion of Kirloskar as a comparable. 9. On the issue of denial by the TPO and the DRP of Working Capital and Risk adjustment in both segments, the Assessee submits that the ITAT has again not given any finding and has simply remanded the issue to the TPO. Lastly, on the issue of proportionate adjustment in the TSS segment, it is stated that after having recorded contentions of the Assessee in para 10.4 of its order, the ITAT....
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....e appellate body. 13. The Court finds from the impugned order that indeed with regard to the issue concerning exclusion of Sasken, there is no finding by the ITAT. That issue ought not to have been remanded without recording a finding. Likewise, with regard to the exclusion of Mahindra and WAPCOS and inclusion of Kirloskar as a comparable for the TSS segment the ITAT has simply remanded the matter to the TPO without a finding. 14. It was submitted by Mr Zoheb Hossain for the Revenue that the remand of the issue of working capital and risk adjustment in both the segments was by way of consent of both the AR and DR before the ITAT. Reference was made in this regard to para 11.3 of the impugned order. 15. The Court finds that the que....