TaxTMI 
TaxTMI 
2023 (3) TMI 82
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....5)/2022-23/1043428421(1), in proceedings u/s.143(3) r.w.s 144C(5) of the Income Tax Act, 1961 (in short "the Act"). 2. Heard both the parties. Case file perused. 3. The assessee pleads the following substantive grounds in the instant appeal : 1. "That on the facts and circumstances of the case and in law, the AO has erred in assessing the total income of the Appellant for the relevant AV at INR 26,06,89,393 as against the returned income of INR 18,72,68,180, making an adjustment of INR 7,34,21,213 in pursuance to the Dispute Resolution Panel ("DRP") directions. 2. That on the facts and circumstances of the case and in law, Transfer Pricing Officer ("TPO") / DRP / AO have erred in making an adjustment of INR 7,29,33,497 to the income ....
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....d thus, any addition is unwarranted. 3. That on the facts and circumstances of the case and in law, the AO/ DRP have erred in making a disallowance of INR 4,87,716 under section 36(1)(va) of the Act despite the fact that employee contribution towards Provident Fund ("PF") and Employee State Insurance ("ESI") were made before the due date of filing the income tax return. 4. That on the facts and circumstances of the case and in law, the AO erred in charging interest under sections 234B and 234C of the Act. 5. That on the facts and circumstances of the case and in law, the AO erred in initiating penalty proceedings under section 270A of the Act. That the above grounds and sub grounds of objections are without prejudice to each oth....
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....egment". The other entities included by the learned lower authorities i.e., Vitae International Accounting Services Private Limited, Access Healthcare Services Private Limited and Integra Software Services Private Limited are also found to be not engaged in the assessee's segment since they have been carrying-out their business activities and deriving revenues from accounting, healthcare services and e-publishing services, respectively and, therefore, do not have even broader comparability in the segment in issue before us. This is indeed coupled with the fact that M/s. Integra Software Services Private Limited had undergone a merger scheme with M/s. Integra Infotech Private Limited as per the National Company Law Tribunal's [in short "NCLT....