TaxTMI 
TaxTMI 
2018 (1) TMI 1775
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....idiary of Ahlers NV, commenced its Indian Operation in the year 2004 and has its offices in 12 cities. From its start, Ahlers India has been dealing with complex logistics solutions focused on to the customer needs. Ahlers India's Air Cargo business began from June 2008. Ahlers India has handled about 5500 shipments in India during 2011-12 generating gross revenue of Rs. 77.73 crores. The TPO rejected the following comparables chosen by the assessee Connect Cargo Private Limited ('CCPL') Gordon Woodroffee logistics ltd ('GWL') Tiger logistics India Private Limited ('TLIPL') and included the following comparables NR International Limited, Speedy Multimodes Limited and Sical ....
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....(iv) in page 3 of Paperbook - 2). CCPL is a well renowned company with hands on experience in Logistics Management and has established a global presence in the transportation and logistics industry. (Extract from website of CCPL- Page 4 of Paperbook-2). Considering the above, the assessee pleads that CCPL should be considered as comparable company and sought our attention to Page 161 of paperbook- 1, which contained complete set of financial statements. Per contra, the DR supported the orders of the TPO and the DRP. 3.1 We heard the rival submissions and gone through the relevant materials. We find merit in the submissions of the assessee and hence direct the TPO/AO to take Connect Cargo Pvt. Ltd. as a comparable and re-work the ALP acco....
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....ind merit in the submissions of the assessee. Since, TPO has treated the TILIP as a comparable to the assessee in the assessment year 2011-12, the TPO/AO is directed to treat this company as a comparable for this ay and re-work the ALP accordingly. The corresponding grounds of appeal is allowed. 5. On rejection of Gordon Woodroffee logistics ltd ('GWL') : The TPO, on perusal of the financials held that its margin is estimated as under: OI - 39.05 cr OC - 39.25 cr Loss - 02. Cr Since this company is making a persistent loss he held that the company cannot be accepted as comparable. On assessee's objection, the DRP held that since the assessee has not furnished annual reports of earlier years ....
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....es, the TPO held as under : NR International : The comparable has only 0.44 crore value of vehicle for all the segments put together. The asset/sales ratio of the comparable is only 0.31% for all the segments put together. Hence, the comparable is not asset based logistics provider Speedy Multimodes : The company has 23.46 crore value of assets for all the segments put together. The asset/sales ratio is only 30% for all the segments but together. Hence the comparable is not asset based logistics provider. Sical Logistics Ltd: The asset/sales ratio is only 1.6%. Hence the comparable is not asset based logistics provider. 6.1 On the assessee's objections, the DRP held that the asset based logic is not backed by any data. No correlation bet....
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....d courier services which is not comparable to the assesseee. Further, the company has a 110,000 sq.ft of bonded warehouse of its own to store the goods imported. (Extract from website - page 11 of Paperbook 2) The TPO in the case of V Trans (India) Ltd which was selected as comparable in the show cause notice issued, later rejected it on the basis that the company has an established warehouse. (page 276 of the Paperbook 1). Based on the same analogy, Speedy Multimodes is not comparable to the assessee. Per contra, the DR supported the order of the TPO and the directions of the DRP. 6.3 We heard the rival submissions and gone through the relevant material. The TPO has found that the above comparables are having very low assets/sales ratio....