2016 (10) TMI 1296

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....tions of law for our consideration : (1) Whether on the facts and circumstances of the case, the Tribunal erred in excluding M/s. Megasoft Ltd., M/s. Software Technology Group International Ltd. and M/s. Transworld Infotech Ltd. from the list of comparable companies holding that the data for the three concerns considered by the Transfer Pricing Officer was not for the relevant financial year i.e. 01.04.2005 to 31.03.2006? (2) Whether on the facts and circumstances of the case, the Tribunal erred in directing to exclude M/s. Megasoft Ltd., M/s. Software Technology Group International Ltd. and M/s. Transworld Infotech Ltd. from the list of comparable companies without appreciating the fact that the above three compa....

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....ed by the Revenue in its appeal, being Income Tax Appeal No.732 of 2014, from an order dated 30 April 2016 of the Tribunal relating to Assessment Year 2007­-08. Mr. Suresh Kumar states that this Court, by an order dated 26 September 2016, found that the question as proposed in Income Tax Appeal No.732 of 2014 did not give rise to any substantial question of law. (b) Therefore, for the reasons mentioned in our order dated 26 September 2016, in Income Tax Appeal No.732 of 2014 filed by the Revenue in respect of the same Respondent Assessee, the question as proposed does not give rise to any substantial question of law. Thus, not entertained.  4. Re. Question No.(2): (a) The impugned order of the Tribunal directed the Assessi....

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....ransfer Pricing Officer was referring to a financial year other than the subject financial year. Consequently, it could not be read as a comparable. Thus, the question as proposed does not give rise to any substantial question of law. Thus, not entertained.  6. Re. Question No.(4): (a) Mr. Suresh Kumar, learned Counsel for the Revenue, very fairly states that this very issue had been raised by the Revenue in its Income Tax Appeal No.732 of 2014 filed in this Court in respect of the same Respondent Assessee for A.Y. 2007-­08. In the above appeal the Revenue has pressed identical question as raised herein as in Question Nos. (iv) and (v) therein. This Court, on 26 September 2016, passed an order in the above appeal finding that....