2021 (2) TMI 1208

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....R PER SAKTIJIT DEY. J.M. The captioned appeal has been filed by the assessee challenging the final assessment order dated 28th September 2017, passed under section 143(3) r/w section 144C(13) of the Income Tax Act, 1961 (for short "the Act") for the assessment year 2013-14, in pursuance to the directions of the Dispute Resolution Panel-2 (for short "the DRP"), Mumbai. 2. At the outset, the lear....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....viding software development services through its Associated Enterprises (AE). The assessee benchmarked the aforesaid transaction by applying comparable uncontrolled price (CUP) method. The Transfer Pricing Officer, however, did not accept the benchmarking of the assessee. Noticing that in assessment year 2010-11, CUP method followed by the assessee was rejected and the arm's length price was d....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ounsel for the assessee submitted, Infobeans Technologies Ltd. being engaged in diversified activities and the segmental results not being available in public domain, cannot be compared to a routine software development service provider like the assessee. In support of such contention, learned Counsel for the assessee relied upon the following decisions:- i) M/s. Pubmatic India Pvt. Ltd. v/s ACI....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n, data mining, data modeling, statistical analysis, machine learning technique, etc. Considering the fact that Infobeans Technologies Ltd. is engaged in diversified activities and segmental details are not available, the Tribunal, Pune Bench, in Pubmatic India Pvt. Ltd. (supra) has held that this company cannot be treated as comparable. In case of M/s. Emersion Electric Co. India Pvt. Ltd. (supra....