Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: form 3cd :: articles on VAT and GST in India :: VAT Audit :: due date for vat payment
 
 
From the Courts »
 ACIT vs. Veer Gems (ITAT Ahmedabad)
  CIT vs. Subhash Vinayak Supnekar (Bombay High Court)
 Pr. Commissioner Of Income Tax-06 Vs. M/s N.C Cables Ltd.
 BDR BUILDERS AND DEVELOPERS PVT. LTD. Vs. THE ASSISTANT COMMISSIONER OF INCOME TAX & ANR.
 Sports Infratech Pvt. Ltd. & Anr. Vs. Deputy Commissioner Of Income Tax (Hqrs)
 Delhi High Court interprets applicability of amendments to Arbitration Act
  M/s Skin Institute And Public Services Charitable Trust Vs. Commissioner Of Income Tax (Exemption)
 M/s Skin Institute And Public Services Charitable Trust Vs. Commissioner Of Income Tax (Exemption)
 ITO vs. Emami Paper Mills Ltd (ITAT Kolkata)
 Surya Prakash Toshniwal HUF vs. ITO (ITAT Kolkata)
 CIT vs. Subhash Vinayak Supnekar (Bombay High Court)

Saba Software India Pvt Ltd, PSIR Building, 90/8,MIDC Cross Road, A Andheri (E), Mumbai-400093 Vs. Income Tax Officer 8(3)(1), Aayakar Bhavan, M K Road, Mumbai-400020
June, 01st 2015
                    ,   "                       " 
     IN THE INCOME TAX APPELLATE TRIBUNAL " K" BENCH, MUMBAI

 BEFORE HON'BLE S/SHRI VIJAY PAL RAO (JM), AND B.R.BASKARAN (AM)
         ,      .. ,   
                    ./I.T.A. No.6953/Mum/2012
                  (   / Assessment Year : 2008-09)
 Saba Software India Pvt Ltd,      / Income Tax Officer
 PSIR Building,                        8(3)(1),
                                   Vs.
  90/8,MIDC Cross Road,                  Aayakar Bhavan,
 "'A' Andheri (E),                        M K Road,
  Mumbai-400093                          Mumbai-400020
       ( /Appellant)               ..    (    / Respondent)

          . /   . /PAN/GIR No. :AADCS8646N

            /: Assessee by              Shri Arun Chhabra
               / Revenue by :           Shri N Padmanaban


             / Date of Hearing               : 26.05.2015
             /Date of Pronouncement : 29.5.2015

                                  / O R D E R

PER B.R.BASKARAN (AM)
       The assessee has filed this appeal challenging the assessment order
dated 24.9.2012 passed by the AO in conformity with the direction issued
by    Dispute Resolution Panel-II, Mumbai (DRP).           The assessee has
challenged the transfer pricing adjustment made by AO as per the
direction of the DRP.





2.     We heard the parties and perused the record. The assessee
company is engaged in the business of providing software development
services and it is a subsidiary of M/s Saba Software, Inc. USA.        The
assessee company is a 100 percent export oriented Unit having
undertakings in Mumbai and Pune. The assessee entered into international
transactions with its Associated Enterprises exceeding 15 crores. In the
                                                                 ITA No.6953/Mum/2012
                                         2


Transfer Pricing Study, the assessee submitted 15 comparables. However,
the TPO rejected 11 comparables and accepted only four comparables
submitted by the assessee. Further, the TPO included 19 more
comparables and thus, the TPO considered 23 comparables in total to
determine the ALP of the international transactions.


3.    Before the DRP, the assessee challenged 8 comparables included by
TPO and also contested exclusion of 4 comparables submitted by the
assessee. The DRP accepted the contentions of the assessee in respect of
two comparables, viz., M/s Infosys Technologies Ltd and M/s Wipro Ltd
out of the 12 comparables (8 included by TPO and 4 excluded by TPO)
that were contested by the assessee. With regard to the remaining 10
items of comparables, the DRP did not pass any speaking order.


4.    The Ld A.R contended that the DRP was not justified in not considering the
objections of the assessee with regard to the 10 items of comparables. Before
us, the Ld D.R could not contradict the contentions of the assessee. Under these
circumstances, in the interest of natural justice, we are of the view that the issue
relating to the 10 items of comparables that were objected by the assessee
needs to be examined afresh by the DRP. Accordingly, we set aside the order of
the AO/DRP in respect of the T.P. adjustment and restore the same to the file of
the AO/DRP with the direction to examine the same afresh by duly considering
the objections raised by the assessee with regard to the 10 comparables and
pass a speaking order thereon.





5.    At the time of hearing, the Ld A.R submitted that the DRP did not address
the objection raised by the assessee with regard to the use of information
obtained by the department u/s 133(6) of the Act without confronting the same
with the assessee. Hence, we direct the AO/concerned tax authority to furnish
the said information to the assessee and duly consider the explanations that may
be furnished by the assessee in that regard.
                                                               ITA No.6953/Mum/2012
                                       3



6.     In the result, the appeal filed by the assessee is treated as allowed for
statistical purposes.


       The above order was pronounced in the open court on 29th May, 2015.
               th
             29 May, 2015    

                    Sd                                 sd

(   /VIJAY PAL RAO)                        (..  ,/ B.R. BASKARAN)
        / Judicial Member                    /Accountant Member
 Mumbai: 29th             May,2015.
. ../ SRL , Sr. PS

        /Copy of the Order forwarded to :
1.  / The Appellant
2.      / The Respondent.
3.      () / The CIT(A)- concerned
4.       / CIT concerned
5.       ,     ,  /
      DR, ITAT, Mumbai concerned
6
        / Guard file.

                                                              / BY ORDER,
              True copy
                                                       (Asstt. Registrar)
                                                 ,  /ITAT, Mumbai

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions