TaxTMI 
TaxTMI 
2018 (8) TMI 2176
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....hereinafter "the Act"). 2. The brief facts of the case are that the assessee, Thomson Reuters International Services Pvt. Ltd. (in short TRISPL) is a subsidiary of Worldscope Disclosure LLC, US, and Thomson Reuters Holdings BV. TRISPL based on the intercompany agreements is primarily engaged in providing software development and ITeS to Thomson Reuters's affiliates. For the services rendered, the company is compensated on the basis of a mark-up on cost. 3. The AO referred the matter to TPO, wherein transfer pricing adjustment was made. The AO also disallowed assessee's claim of deduction under Section 10A in respect of UB Plaza Software Technology Parks of India (STPPI) Unit. 4. At the outset the learned A.R. placed on record order....
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....e Bench dated 06.04.2017 wherein under similar facts and circumstances the Tribunal has allowed assessee's claim in respect of Titanium (STPI) unit under Section 10A of the Act. Respectfully following the same, we do not find any merit for disallowance of deduction under Section 10A in respect of STPI unit. 9. The AO also declined assessee's claim under Section 10A in respect of unit acquired from Reuters India Pvt. Ltd. The order of the AO was confirmed by the CIT(A). Assessee is in further appeal before us. 10. We have considered the rival contention and four that during A.Y. 2009-10 the assessee has taken over the business relating to IT enabled services from Reuters India Pvt. Ltd. (in short "RIPL") as a going concern on slump sal....
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....laim of goodwill first time in A.Y. 2009-10 for the above acquisition. However, during A.Y. 2011-12, the year under consideration the company had claimed depreciation on goodwill in revised return of income relying on the decision of Hon'ble Supreme Court in the case of Smifs Securities Ltd. 348 ITR 302, since the appeal for A.Y. 2009-10 is pending wherein for the first time the assessee has made claim for goodwill. Thus, allowability of claim of depreciation during the year under consideration depends on the outcome of A.Y. 2009-10 i.e. the first year in which claim of goodwill was lodged. Accordingly, we direct the AO to decide the issue of claim of depreciation on goodwill only after the decision of the Tribunal in A.Y. 2009-10. We d....
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....ch have large scale of operations. 20. We have heard the rival contentions and found that the issue is decided by the ITAT Bangalore Bench in favour of the assessee in the case of Genesys Engineering Systems. The preside observation of the DRP is as under: - "One of the objections of the assessee is that the TPO has not considered the turnover and size of the comparables selected by it. We have hereby followed the decision of Hon'ble Bangalore ITAT in the case of Genisys Integrating Systems (ITA No. 1231(Bang)/2010) where a guideline in the matter of turnover filter was suggested and that the categorization of software companies in the Dun & Brad Street Study be adopted as a method of classification of companies by size. Acc....