2018 (7) TMI 475

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....(TP)A.No.1336/Bang/2012 for AY 2008-09.  2. The appellants - Revenue have suggested six substantial questions of law which are quoted below for ready reference: - "(1) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in seeking extract comparability, while searching for comparable companies of the assessee under Transaction Net Margin Method whereas the requirement of law and international jurisprudence requite seeking similar comparables companies?" (2) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in imposing conditions beyond law where the requirement of law is to acknowledge only those differences that are likely ....

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....ncerned, the learned ITAT in its Order dated 16/03/2016 has given the findings, the relevant portion of which is quoted below for ready reference:- "6.1 The first objection of the assessee is no selection of certain comparable companies and rejection of certain comparables selected by the assessee. TPO in his analysis has finally selected the following 20 companies with OP/Cost of 23.65%. The list of comparables are as under: Sl.No Name of Company Net  Margins        as TPO Order (before WCA) 1 Avani Cincom Technologies 25.62% 2 Celestial Biolabs 87.94% 3 Kals  Information     &nb....

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....  dated 28.11.2013. (b) Curam Software International Pvt. Ltd. v. ITO, ITA No.1280/ Bang/2012 dated 31.7.2013. (C) Invensys Development Centre India Pvt. Ltd., IT (TP) A No.1692/ Hyd/2012 dtd.17.6.2015. The objections of assessee are similar to the above and facts being the same, we direct the TPO to exclude them from the list of comparables. The grounds raised by the assessee are allowed accordingly. 7. Assessee requested for inclusion of the following two companies rejected by the TPO:- (1) Aditya Birla Minacs IT Services Ltd. (2) Aditya Birla Minacs Technologies Ltd. 7.1 The reason for rejection of the above companies was that they failed RPT filter. The objection of the....

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....y in the findings of the learned Income Tax Appellate Tribunal is established by the appellant, the appeal at the instance of an assessee or the Revenue under Section 260-A of the Act is not maintainable and the relevant portion of the said judgment is quoted below for ready reference: "Conclusion: 55. A substantial quantum of international trade and transactions depends upon the fair and quick judicial dispensation in such cases. Had it been a case of substantial question of interpretation of provisions of Double Taxation Avoidance Treaties (DTAA), interpretation of provisions of the Income Tax Act or Overriding Effect of the Treaties over the Domestic Legislations or the questions like Treaty Shopping, Base Erosion and P....