TaxTMI 
TaxTMI 
2019 (1) TMI 1901
X X X X Extracts X X X X
X X X X Extracts X X X X
....n issued by Hon'ble Dispute Resolution Panel (learned DRP) u/s. 144C(5) of the Act dated 25.9.2012. 2. At the outset, learned AR for the assessee pointed out that learned TPO selected seventeen comparables for benchmarking international transaction carried out by the assessee for the purpose of determination of arm‟s length price (in short "ALP). Learned AR pointed out the facts of the case that the assessee during the year under consideration had provided IT enabled services to its AEs to the tune of Rs. 145,65,31,831/-. ALP of the said international transaction was determined by the assessee by applying transactional net margin method ("TNMM‟ in short) as the most appropriate method ("MAM‟ in short). Operating pro....
X X X X Extracts X X X X
X X X X Extracts X X X X
....t 32.33%, learned DRP had excluded seven comparables chosen by learned TPO. The assessee preferred further appeal to this Tribunal against the order of learned DRP dated 30.9.2012 in the case of Vodafone India Services Pvt. Ltd. (Formerly known as "3 Global Services Private Limited‟) Vs. ACIT in ITA No. 7514/mum/2013 for A.Y. 2008-09 dated 10.12.2014, wherein two more comparables chosen by the learned TPO were directed to be excluded by the Tribunal. Learned AR pleaded that once these nine comparables are excluded from the total seventeen comparables chosen by the learned TPO, and revised PLI is worked out, comparable margin comes out to 15.85% as against assessee‟s margin 15.65%. Hence, by taking into account plus or minus 5% r....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 47.40% 11 HCL Comnet Systems & Services Ltd (Seg.) 3886156998 2924114030 962042968 32.90% 12 Infosys BPO Ltd 8275563629 6895526075 1380037554 20.01% 13 Iservices India Pvt Ltd 133954773 122242652 11712121 9.58% 14 Mold-Tek Technologies Ltd 178458000 90743000 87715000 96.66% 15 R Systems International (Seg.) 213305585 204518285 8787300 4.30% 16 Spanco Ltd (Seg.) 416992585 375547040 41445545 11.04% 17 Wipro Ltd (Seg.) 11572000000 8898000000 2674000000 30.05% Average 32.33% 6. Accordingly, learned TPO made an adjustment of Rs. 21,00,73,042/- to ALP. The asses....
X X X X Extracts X X X X
X X X X Extracts X X X X
....eg.) 11.04% 8 Wipro Ltd. (Seg.) 30.05% 10. Now, pertinent question that remains to be answered is as to whether orders passed by learned DRP and by this Tribunal in the case of Vodafone India Services Pvt. Ltd. could be used in the hands of the assessee herein. 11. We find that the very same business carried out by the assessee up to 4.12.2007 was carried out by Vodafone India Services Pvt. Ltd. for the remaining part of the financial year. We also find that the very same seventeen comparable companies (supra) were selected by learned TPO while framing transfer pricing assessment in the hands of Vodafone India Services Pvt. Ltd. for A.Y. 2008-09. Hence, we hold that there is no harm in following learned DRP‟s order a....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Court on 23.1.2019. CORRIGENDUM ORDER ITAT MUMBAI Assessment Year : 2008-09 ITA No. 7520/Mum/2012 30-04-2019 M/s. Hutchison Global Services Pvt. Ltd. Versus DCIT-Range (9)(2), Mumbai Shri C.N. Prasad, JM And Shri M. Balaganesh, AM CORRIGENDUM ORDER In the order passed by this Tribunal in ITA No. 7520/Mum/2012 on 23/01/2019 in para-3, page-2, it was mentioned as under:- "During the year under consideration, the assessee made stump sale pursuant to business transfer agreement entered into between Vodafone India Services Pvt. Ltd. and the assessee and entire business of the assessee was transferred as going concern to Vodafone India Services Pvt. Ltd. from December, 2007. IT enabled service busine....