TaxTMI 
TaxTMI 
2022 (8) TMI 1435
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....). 2. The assessee herein is earlier known as "Willis Processing Service (India) Private Limited". It is an Export Oriented Unit (EOU) under Software Technology Park of India Scheme (STPI Scheme) of Government of India. It is engaged in provision of IT Enabled Services (ITES) to its Associated Enterprises. 3. This is second round of proceeding. On the earlier occasion, the Tribunal had disposed of the appeal, vide its order dated 01-03-2013. The assessee originally had selected 11 comparable companies. In the first round, the Transfer Pricing Officer (TPO) selected 30 companies as comparables. In the first round, the Ld CIT(A) excluded 1 company. The ITAT, vide its order 01-03-2013, excluded certain comparable companies, remanded certain ....
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.... Ltd Yes 12. ICRA Online Ltd Yes 13. Informed Technologies India Ltd Yes 14. Infosys BPO Ltd Yes Yes 15. Maple Esolutions Ltd Yes Yes 16. Mold-Tek Technologies Ltd Yes Yes 17. Spanco Tele-systems & solutions Yes 18. Sparsh BPO Ltd Yes 19. Vishal Information Technologies Yes Yes 20. Wipro Ltd Yes Yes HIGH COURT REMANDED CASES - ADDITIONAL 21. AllsecTehnologies Ltd 22. Flextronics Software Sys Ltd (Seg) 23. HCL Comnet Sys &Ser Ltd 24. ICRA Techno Analytics Ltd (Seg) ....
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.... that this company is a KPO company and hence it is functionally different. Further, during the year under consideration, it has demerged its Plastics division into a separate listed entity, which is an extra ordinary event. The Tribunal has excluded this company in AY 2008-09 (ITA No.6877/Mum/2012) in the assessee's own case. The TPO himself has excluded this company in the assessee's own case in AY 2006-07. The Ld A.R also relied upon the decision rendered by the Tribunal in the case of Stream International Services (ITA No.8290/Mum/ 2011 dated 10th October, 2014 ) in AY 2007-08. Thus, we notice that this company has been held as not a good comparable in various years in the assessee's own case and in the hands of other assessee's also. A....
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.... (v) Asit C Mehta Financial Services Ltd:- The assessee submitted that this company is rendering ITES services and also engaged in providing portfolio management services. However, segmental details are not available with regard to the above said two segments. The Tribunal has excluded this company in the assessee's own case in AY 2006-07 (ITA No.690/Mum/2016). The Ld A.R also relied upon the decision rendered by the Tribunal in the case of Stream International Services (ITA No.8290/Mum/2011 dated 10th October, 2014 ) in AY 2007-08. Thus, we notice that this company has been held as not a good comparable in various years in the assessee's own case and in the hands of other assessee's also. Accordingly, we direct exclusion of this compan....
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..... This company has spent about 8.5% of its revenue towards R & D Activities. Further, this company has had 9 acquisition arrangements during this year. The Ld A.R also relied upon the decision rendered by the Tribunal in the case of Stream International Services (ITA No.8290/Mum/2011 dated 10th October, 2014 ) in AY 2007-08. Thus, we notice that this company has been held as not a good comparable in various years in the assessee's own case and in the hands of other assessee's also. Accordingly, we direct exclusion of this company. (ix) Maple E-Solutions Ltd:- The assessee contended that the promoters of this company have been charged with fraud cases by CBI. Further, the profit trend is very much fluctuating, i.e., the operating margin....