Case Law Details
Transcend MT Services Pvt. Ltd. Vs DCIT (ITAT Delhi)
Assessee has also argued for exclusion of Infosys BPO Ltd, which is having the turnover more than 31.29 times, and TCS E serve Ltd having turnover of 62 times larger than the assessee does. Therefore, for the reasons given by us for exclusion of I gate global Ltd, we also direct the learned transfer-pricing officer to exclude Infosys BPO Ltd and TCS E Serve Limited from the comparability analysis.
FULL TEXT OF THE ITAT JUDGEMENT
1. This appeal is filed by TRANSCEND MT SERVICES PRIVATE LIMITED (formerly known as Heartland Information And Consultancy Services Private Limited) (referred to as the Assessee/Appellant) against the order of THE DEPUTY COMMISSIONER OF INCOME TAX, Circle 25 (2), New Delhi (The AO) passed u/s 143 (3) read with Section 144C (13) of The Income Tax Act, 1961 (The Act) for assessment year 2010 – 11, wherein pursuant to the direction of the learned Dispute Resolution Panel [ The ld DRP] the total income of the assessee was assessed at Rs 55,806,130/– against the returned income of Rs. 23,564,600/– , wherein the only adjustment is made with respect to the arm’s-length price of the International Transactions pursuant to the order of THE LEARNED ADDITIONAL COMMISSIONER OF INCOME TAX, TRANSFER PRICING OFFICER – I (2), New Delhi [ The Ld TPO] passed u/s 92CA (3) of The Act on 9/1/2014, which was subject to the direction of the Learned Dispute Resolution Panel dated 2/12/2014 wherein the arm’s-length price of the transaction of the assessee of Rs 360,154,748/– was determined at Rs 378,162,485/– and thereafter an adjustment was made of ₹ 32,241,526/-.
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