2019 (9) TMI 1693

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.... MEMBER For the Appellant : Shri Padamchand Khincha, C.A For the Respondent : Dr. P.V Pradeep Kumar, Addl. CIT (DR) ORDER Per B.R Baskaran,Accountant Member The assessee has filed this appeal challenging the order dated 16-10-2017 passed by Ld CIT(A)-3, Bengaluru and it relates to the assessment year 2013-14. 2. The ground no.1 is general in nature and Ground no.10 is consequenti....

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....see claimed that the transactions with its AE were at arms length. 4. The TPO, however, selected following comparables, whose average PLI was 20.90%:- SN NAME OF TAX PAYER OP/OC (in %) 1 C G- V A K Software & Exports Ltd. 20.54% 2 I C R A Techno Analytics Ltd. 17.10% 3 Larsen &O Toubro Infotech Ltd. 26.06% 4 Mindtree Ltd. (Seg) 18.19% 5 Persist....

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.... of "large turnover" alone is applied, since these companies do not fall in the bracket of 1 crore to 200 crores as per Dun and Bradstreet's analysis, wherein it has been opined that the grouping of companies having turnover of Rs.1 crore to Rs.200 crores as comparable with each other was proper. He submitted that the assessee's turnover for this year was only Rs.32.12 crores. However the turnover....

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....crore to Rs.200 crores as comparable with each other was held to be proper. Since certain decisions were rendered by other co-ordinate benches fixing different criteria, the co-ordinate bench considered the divergent views expressed by various benches in the case of Autodesk India (P) Ltd vs. DCIT (2018)(96 taxmann.com 263) and expressed the view that the Ld CIT(A) was right on the issue of applic....