2024 (1) TMI 365

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....rough: Mr Ruchir Bhatia, Sr. Standing Counsel. For the Respondent 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']. ....

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....et support services to its AEs; hereafter referred to as the "Corporate Service Segment" [in short, "CSS"]. 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....

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....e TPO. 7. In rebuttal, Mr Nageshwar Rao, learned counsel, who appears on behalf of respondents/assessee, has however, 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 co....

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....pointed out by the CIT(A) and the Tribunal with regard to each of the comparables were the following: (i) Accentia: It 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 Know....