2019 (7) TMI 550

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.... Respondent Through: Mr. Neeraj Jain & Mr. Aniket D. Agrawal, Advocates O R D E R CM Appl. No. 8033/2019 (delay) 1. For the reasons stated in the application, the delay of 109 days in re-filing the appeal is condoned and the application is disposed of. ITA No. 176/2019 2. The Revenue has preferred this appeal against an order dated 14th May, 2018 passed by the Income Tax Appellat....

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....ark-up of 8%. 5. The return filed by the Assessee for the AY in question was picked up for scrutiny. The matter was referred to the Transfer Pricing Officer (TPO) under Section 92(C) of the Act for determining the ALP of the international transactions. The TPO made an upward adjustment of Rs. 5,75,92,477/-. The matter was then taken, at the instance of the Assessee, before the Dispute Resolutio....

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....captive service provider the Assessee could not be considered functionally similar to Axis which was providing liaisoning services. 7. Learned counsel for the Assessee on the other hand drew the attention of the Court to the detailed reasons in the impugned order of the ITAT for its conclusion regarding exclusion of Axis. 8. Before the TPO there were two points urged by the Assessee for excl....

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...., Axis was found engaged in the business of issuing digital certification. On the other hand, the Assessee was a routine captive sourcing service provider for consumer goods. As pointed out by this Court in Rampgreen Solutions Pvt. Ltd. v. CIT 377 ITR 533 (Del) "comparability analysis by the transactional net margin method may be less sensitive to certain dissimilarities between the tested party a....