2015 (12) TMI 1807

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....hri N.K. Chand, Departmental Representative (Ld. CIT-DR) on behalf of the Revenue. 3. During the course of hearing Ld. Counsel has submitted the additional ground as under: "Symantec Software Solutions Private Limited ('the Appellant') craves leave to prefer an appeal on the following additional ground against the final order passed by the learned Deputy Commissioner of Income-tax - 10(1), Mumbai under section 143(3) r.w.s144C(13) of the Income-tax Act, 1961 ('the Act'). On the facts and circumstances of the case and in law, the learned AO/ DRP: 15. erred in considering Man Diesel India Limited as a comparable company to the Appellant even though Man Diesel India Limited has significant related party tra....

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.... exclusively to of its AE. The mechanism followed by the company was on the basis of cost plus 2% of net sales for the value of services provided of its AE. The methodology followed for benchmarking international transactions was TNMM method, as per its Transfer Pricing Study Report. The TPO accepted the methodology of TNMM, however certain comparables given by the assessee company were rejected and few others were added by him in the final Accept-Reject matrix. Only five comparables were left, out of which 'M/s Man Diesel India Ltd.' is one of the comparables. The said company was included in the list of comparables in the TP study report submitted by the assessee company. 4.2. However, now the assessee has submitted additional ground b....

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....liance has been placed on the following judgments: 1* Deputy Commissioner of Income Tax Vs Quark Systems Pvt Ltd. 132 TTJ (Chd) (S B) 1 2. CIT Vs Quark Systems India (P) Ltd 62 DTR 182 (P&H) 3. Akzo Nobel Chemicals (India) Ltd., Vs ACIT ITA No.1169/PN/2011 4. CISCO Systems (India) Private Ltd. Vs DCIT IT(TP)A No271/Bang/2014 5. ACIT Vs Convergys India Service (P) Ltd., ITA No.4291/Del/2009 6. Deloitte Consulting India Pvt. Ltd., Vs DCIT 155 TTJ (Hyd) 367 7. Four Soft Pvt. Limited, Vs DCIT ITA No. 1903/Hyd/11 8. IVY Comptech Pvt. Ltd Vs ACIT ITA No. 1 558/Hyd/2010 9. Parexel International (India) Private Limited vs ACIT (ITANo.144/Hyd/2014). 10. Q Logic....