TaxTMI 
TaxTMI 
2018 (7) TMI 2389
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....g/2017 dated 07.07.2017, relating to the Assessment Year 2012-13. 2. The proposed substantial questions of law framed by the Revenue in the Memorandum of Appeal are as under: 1. "Whether on the facts and in the circumstances of the case, the Tribunal is right in law in excluding certain comparables on the basis of functional dissimilarity by following its earlier judgment which has not reached finality and even when the Transfer Pricing Officer has considered the comparable on the basis of qualitative and quantitative filters? 2. Whether on the facts and in the circumstances of the case, Tribunal is right in law in setting aside the disallowance made by assessing authority under section 2(24)(x) read with section 36(1)(....
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.... the judgment of this Court in the case of Essae Teraoka [P] Ltd., (supra), is quoted below for ready reference:- "17. Section 6 of the PF Act provides for contributions and matters which may be provided for in Schemes. Paragraph-29 of the PF Scheme states what is "Contribution". The expression "contribution" is also defined under the PF Act by Section 2(c) of the PF Act, which means a contribution payable in respect of a member under the Scheme or the contribution payable in respect of an employee to whom the Insurance Scheme applies. If this definition is read with subpara(1) of paragraph-29 in Chapter-V of the PF Scheme, it would mean that the contributions payable by the employer under the Scheme shall be at a particular rate a....
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....section(1) of Section 139 of the IT Act is made, the employer is entitled for deduction." Regarding Substantial Question No.1: 7. The learned Tribunal, after discussing the rival contentions of both the Appellants-Revenue and Respondent-Assessee, has returned a finding as under: "13. Regarding the request of the assessee for exclusion of 4 other comparable companies on account of being functionally different, we find force in the submissions of the learned AR of the assessee because the functional profile of these 4 companies as per annual report of these companies is as under: (i) Guindy Machine Tools Ltd., - page 116 of paper book, out of total turnover of Rs. 5,365 Lakhs Rs. 3,341 lakhs is for Chuck & Chuck Compon....
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....ransactions depends upon the fair and quick judicial dispensation in such cases. Had it been a case of substantial question of interpretation of provisions of Double Taxation Avoidance Treaties (DTAA), interpretation of provisions of the Income Tax Act or Overriding Effect of the Treaties over the Domestic Legislations or the questions like Treaty Shopping, Base Erosion and Profit Shifting (BEPS), Transfer of Shares in Tax Havens (like in the case of Vodafone etc.), if based on relevant facts, such substantial questions of law could be raised before the High Court under Section 260-A of the Act, the Courts could have embarked upon such exercise of framing and answering such substantial question of law. On the other hand, the appeals of the ....