2025 (12) TMI 1117

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....2016 relating to Assessment Year ("AY") 2010-11 and 2011-12 respectively. 2. We have been informed by Mr. Ruchir Bhatia, learned Senior Standing Counsel for the appellant that this appeal is primarily relatable to ITA No. 512/Del/2016 concerning AY 2010-11 whereby the ITAT has upheld the order passed by the Dispute Resolution Panel. 3. We may state that the appellant/Revenue has proposed the following substantial questions of law for consideration:- "2.1 Whether the Ld. ITAT erred in not appreciating that the Arm's Length Price of an international transaction, as defined in Section 92F(ii) of the Income tax Act, 1961, is the price applied or proposed to be applied in an uncontrolled transaction, and consequently must rema....

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....g brand name as in the case of the comparable i.e. TCS E-Serve? 2.6 Whether in the facts and circumstances of the case the Ld. ITAT was right in law in considering Accentia Technologies Ltd. as functionally non comparable on the ground of amalgamation. Whether amalgamation of companies should be treated as an extraordinary event for the purpose of comparable when functions of the company remain unchanged? 2.7 Whether in the facts and circumstances of the case the Ld., ITAT was right in law in considering Infinite Data System as functionally non comparable without considering the findings of the TPO w.r.t the fact that the comparable company has passed all the appropriate filters applied by the TPO? 2.8 Whether in ....

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.... Ltd. [2019] 416 ITR 638 (Del) AY 2010-11 • Evalueserve SEZ (Gurgaon) Pvt. Ltd. [ITA 241/2018; decided on 26.02.2018] (Del) [AY 2010-11] • Cadence Design Systems (India) [2025] 482 ITR (Del) [AY 2010-11] 2.4 TCS E-Serve International Ltd. • Significant brand Value - following Assessee's own case for AY 2015-16 in respect of Infosys BPO & other decisions of this Hon'ble Court Refer Paras 33-34 @ pp.53-54 • Revenue's appeal bearing ITA 393/2024 for AY 2015-16 dismissed by this Hon'ble Court vide Order dated 29.07.2024 • Oracle (OFSS) BPO Services Pvt. Ltd. [2019] 416 ITR 54 (Del) • Avaya India (P.) Ltd. [2019] 416 ITR 638 (Del) AY 2010-11 â€....

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....nt 2.7 Infinite Data Systems Ltd. • Functional Profile: Development of Software, provision of technical services, • Extra-ordinary event (amalgamation) during the year • Significant related party transactions Refer: Paras 92-96 @ pp. 83-87 • Xchanging Technology Services India Pvt. Ltd. [ITA 553/2019; decoded pm 03.07.2019] (Del) [AY 2010-11] • Mentor Graphics (India) Pvt. Ltd. [ITA 126/2022; decided on 26.04.2022] (Del) [AY 2010-11] 2.8 Infosys Technologies Ltd. • Significant brand value • Functional Profile: Engaged Development of Software products Refer: Paras 115-117 @ pp. 96-97 • Revenue's appeal bearing....

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....is appeal by the Revenue is directed against the order dated 14th August, 2015 passed by the Income Tax Appellate Tribunal (ITAT) in ITA No. 2010/Del/2014 for the Assessment Year ('AY') 2009-10. 3. The question sought to be urged by the Revenue is whether the ITAT was correct in directing the foreign exchange gain/loss to be considered as an item of operating revenue/cost? 4. The ITAT has in the impugned order noted the fact that the foreign exchange gain earned by the Assessee is in relation to the trading items emanating from the international transactions. Since the foreign exchange loss directly resulted from trading items, it could not be considered as a non-operating loss. Further, it is noted by the Dispute Resoluti....