2024 (1) TMI 365

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....t Through: Mr Nageshwar Rao, Adv. with Mr Parth and Ms Mehar Verma, Advs.   RAJIV SHAKDHER, J. (ORAL): 1. This appeal concerns Assessment Year (AY) 2007-08. 2. Via the instant appeal, the appellant/revenue seeks to assail the order dated 30.06.2017, passed by the Income Tax Appellate Tribunal [in short, "Tribunal']. 3. Mr Ruchir Bhatia, learned senior standing counsel, who appears on beh....

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...."]. 4.3 The record also discloses that the matter was referred by the Assessing Officer (AO) to the Transfer Pricing Officer (TPO). The TPO directed an upward adjustment amounting to Rs. 1,14,92,874/- in the Information Technology Enabled Services (ITES) Segment. 4.4 Likewise, the TPO also ordered an upward adjustment amounting to Rs. 31,329,348/- in CSS. 5. Being aggrieved, the respondent/asse....

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....r, drawn our attention to the finding of fact returned by the CIT(A), which, as noted above, was sustained by the Tribunal. According to Mr Rao, since each of the companies that were taken up for benchmarking were functionally dissimilar, the CIT(A) and Tribunal have reached the correct conclusion, which was to exclude the said comparables. 7.1 It is Mr Rao's contention that therefore, no substan....

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....was found that it had encountered an extraordinary circumstance in the form of amalgamation during the Financial Year (FY) 2006-07 (AY 2007- 08). (ii) Eclerx and Mold-Tek: The finding returned was that these entities were in the business of Knowledge Process Outsourcing (KPO) and in particular, were providing services concerning data analytics, data process solutions, and other high end serv....