2021 (8) TMI 1453

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.... Ravi Kiran, CIT-DR. ORDER PER S.S. GODARA, J.M. This assessee's appeal for AY 2014-15 arises against the Dy.CIT, Circle 2(1), Hyderabad's order dated 30th October, 2018 framed in furtherance to DRP-II, Bangalore's directions dated 27.08.2018 in case no.100/DRP1/BNG/2018-19 involving proceedings u/s 143(3) rws 144C(5) rws 144C(13) of the Income Tax Act, 1961 [ in short 'the Act' ]. Hea....

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.... that instant first and foremost substantive ground is no more res integra since not only this tribunal's co-ordinate bench order for the AY 200506 and 2010-11 have excluded M/s Infosys and M/s Persistent Systems Ltd but also yet another coordinate bench decision in ITA 2305/Hyd/18 in M/s. Sony India Pvt. Ltd. for the very AY 2014 has rejected all these five comparable entities in the very segment....

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..../Hyd/2017 dated 19th May, 2021) (iii) Progressive Software (ITA no. 347, 391/Hyd/2015 dated 15th March, 2021) held that the impugned Arm's Length Price ('ALP' for short) adjustment pertaining to international transactions based on SBI's domestic lending rates than LIBOR is not sustainable. We, therefore, direct the TPO to delete the impugned adjustment for this precise reason alone. ....