2023 (8) TMI 679

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... delay of 05 days in filing the appeal] CM No. 38391/2023[Application filed on behalf of the petitioner seeking condonation of delay of 28 days in re-filing the appeal] 2. The above-captioned applications have been filed on behalf of the petitioner seeking condonation of delay 5 days in filing and 28 days in re-filing the appeal. 3. Learned counsel for the respondent/assessee does not oppose the prayers made in the above-captioned applications. Accordingly, the delay is condoned. 4. The applications are disposed of, in the aforesaid terms. ITA 413/2023 5. This appeal concerns Assessment Year (AY) 2009-10. 6. Via this appeal, the appellant/revenue seeks to assail the order dated 02.12.2022. 7. The moot question which ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....utiny. (iv) Having regard to the fact that the respondent/assessee had entered into international transactions, the aspect concerning the same was referred to the Transfer Pricing Officer (TPO) for ALP determination. (v) The TPO via order dated 21.01.2013 proposed an upward adjustment amounting to Rs. 4,07,44,788/-. (vi) The record shows that a final assessment order was passed on 16.05.2023, whereby the petitioner's income was assessed at Rs. 7,55,44,608/-, which included the aforementioned upward adjustment crystallized ed by the TPO. (vi) It is against the final assessment order that the respondent/assessee preferred an appeal with the CIT(A). The CIT(A) partly allowed the respondent/assessee's appeal ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....l Ltd. 15.1 Insofar as the Accentia Technology Ltd. is concerned, the Tribunal notes the following: (i) Firstly, it has developed its own software. (ii) Secondly, it is in the business of medical transcription services and not the BPO services. (iii) Thirdly, during the period in issue, it experienced an extraordinary economic event i.e., it had acquired 96% stake in Oak Technologies Inc. which added heft to both its top and bottom line. 16. As regards Cosmic Global Ltd, the Tribunal has returned a finding of fact that it operated on a business model which was different from that of the respondent/assessee. According to the Tribunal, Cosmic Global Ltd outsourced a major part of its business and that in the r....