2018 (6) TMI 1771

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....Shri Srinivasa Rao, CIT ORDER A. Mohan Alankamony, J. This appeal by the assessee is directed against the order passed by the Ld. Members of the Dispute Resolution Panel-2, Bengaluru vide order dated 15.09.2017 in F.No.414/DRP-2- BNG/2016-17 for the assessment year 2013-14 passed U/s.144C(5) of the Act.  2. The assessee has raised several grounds in its appeal however the cruxes o....

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....tice U/s.143(2) of the Act was issued on 04.09.2014. Finally the assessment order was passed U/s.143(3) r.w.s. 144C(1) & 92CA of the Act on 09.12.2016 wherein the Ld.AO made an upward adjustment of Rs. 2,00,98,068/- and Research and Development expenses amounting to Rs. 1,99,60,831/- was disallowed treating it as capital expenditure. 4.Ground No. 2(i) : Upward revision of Rs. 2,00,98,068/-....

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....be adopted while computing the ALP. The Ld.AR further submitted that the assessee had adopted M/s. Acropetal Technologies Ltd., as comparable company with the available data of the earlier assessment year, since there were adverse factors in the relevant assessment year as a result the data for the relevant assessment year was not reliable. The Ld.DR could not controvert to the submission of ....

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....ounts of M/s. Acropetal Technologies Ltd., during the relevant assessment year cannot be relied upon and even if it is relied upon the profit of the company is abnormally high during the relevant assessment year. Hence, we are of the considered view that for the relevant assessment year M/s. Acropetal Technologies Ltd., cannot be adopted as a comparable company. Therefore we hereby direct the....