TaxTMI 
TaxTMI 
2016 (3) TMI 1270
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....d was in the business of software development services. The return of income for the AY. 2007-08 was selected for scrutiny assessment and the AO has referred the international transactions with AE reported by assessee for the said assessment year to the TPO to determine the Arm's Length Price (ALP). The AO reduced the leased line charges of Rs. 25,76,545/- and travelling expense in foreign currency of Rs. 1,02,30,194/- from the 'export turnover' but not from the 'total turnover', which resulted in reduction of claim u/s. 10A of the Act to the tune of Rs. 17,41,860/-. Thereafter, the AO denied the entire deduction u/s. 10A of the Act on the ground that assessee did not furnish the Foreign Inward Remittance Certificate copies (FIRC) to substa....
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.... appeal before the ITAT. 3. Condonation of delay: The appeal was filed with a delay of 335 days with a petition for condonation of delay. It was submitted that assesseecompany ceased its operations in the year 2009 and appointed authorized person to represent the company. The appointed AR suddenly withdrew the representation and the AO was informed accordingly. The company came to know about these facts after TRO started recovery proceedings on erstwhile directors and then company took steps to appoint a new AR, obtain copies of orders from the AO and prepared present appeal. It was submitted that the proceedings took considerable time and company has taken steps immediately on coming to know of orders. It was also submitted that in the ....
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....t convinced with reasons stated by the AO. In fact, his order states that assessee has shown invoice value to the extent of Rs. 17,11,75,098/- as against Rs. 17,33,92,390/- and balance was reconciled. Be that as it may, now assessee undertakes to produce the copies of invoices to the AO. Therefore, without going into the merits of action of AO, we direct the AO to examine the same and allow the claim. The issue of claim of 10A is accordingly set aside to the AO for that limited purpose. Ground is accordingly allowed for statistical purposes. 5. Ground No. 3 is also on the issue of claim of deduction u/s. 10A. AO excluded leased line charges of Rs. 25,76,545/- and travelling expenses of Rs. 1,02,30,194/- respectively from the export turno....
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.... -158.38 10.71 8. Helios & Matheson Information Tech Ltd 178.63 36.63 9. iGate Global Solutions Ltd., 747.27 7.49 10. Infosys Technologies Ltd 131.49 40.30 11. Ishir Infotech Ltd 7.42 30.12 12. KALS Information Systems Ltd (Seg) 2.00 30.55 13. LGS global Ltd (Lanco global Solutions Ltd) 45.39 15.75 14. Lucid Software Ltd 1.70 19.37 15. Mediasoft Solutions Ltd 1.85 3.66 16. Megasoft Ltd., 139.33 60.23 17. Mindtree Ltd., 590.35 16.90 18. Persistent Systems Ltd., 293.75 24.52 19. Quntegra Solutions Ltd., 62.72 12.56 20. RS Software (Ind.) Ltd., 101.04 13.47 21. R Systems Internat....
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....logy E Business Software India P. Ltd., Vs. DCIT in IT(TP)A No. 1057/Bang/2011 6.4. We have considered the detailed objections placed on record by way of a chart and Co-ordinate Bench decisions. We do not intend to repeat the findings in various coordinate Benches orders. Suffice to say that the following companies are excluded for the brief reasons stated against the company: 1. Accel Transmatics Ltd (Seg) Functionally different. product/design company. 2. Avani Cimcon Technologies Ltd., Functionally different.. Product based company. 3. Celestial Labs Ltd., Functional dissimilarity. product based company. 4. E-Zest Solutions Ltd., Functional dissimilarity. product development service company. 5. ....