Safe Harbour Rules Misapplied: Authorities Erred in Classifying Companies as KPOs u/s 92CA(1) of Income Tax Act.

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....TP Adjustment - benchmarking the international transactions u/s 92CA(1) - Safe Harbour Rules - At the outset, we find that Safe Harbour Rules are applicable from 18.09.2013, we have serious doubt as to how the definitions given in Safe Harbour Rules can be applied for characterization of a particular company for the purpose of identification of set of comparable entities. Therefore, we are of the considered opinion that the lower authorities fell into serious error in holding these comparables are KPO companies placing reliance on the definition given in Safe Harbour Rules. - AT....