HERE SOLUTIONS INDIA PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE 10 (1)(1), MUMBAI

ITA 5918/MUM/2024Status: DisposedITAT Mumbai08 May 2025AY 2014-15Bench: SHRI ANIKESH BANERJEE (Judicial Member), SHRI GIRISH AGRAWAL ( (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal found merit in the assessee's contentions regarding the exclusion of certain comparable companies. Upon excluding these comparables, the remaining ones aligned with the assessee's margins, indicating arm's length transactions. Consequently, the transfer pricing adjustments were deemed unsustainable.

What were the facts?

The assessee, a wholly owned subsidiary, provided ITES and IT services to its associated enterprises. The Transfer Pricing Officer (TPO) made upward adjustments to the income, holding that the international transactions were not at arm's length. The assessee contested the TPO's selection and rejection of comparable companies.

What were the issues?

Whether the Transfer Pricing Officer correctly determined the arm's length price by including/excluding certain comparable companies. Whether penalty proceedings under Section 271(1)(c) were validly initiated.

Which sections of the Income-tax Act were involved?

Section 92C,Section 92D,Section 271(1)(c)

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Income Tax Appellate Tribunal, MUMBAI BENCH “H”, MUMBAI

Before: SHRIANIKESH BANERJEE & SHRI GIRISH AGRAWAL

For Appellant: Shri Ketan Ved
For Respondent: Shri Ajay Chandra (CIT-DR)

PER: ANIKESH BANERJEE (JM):

Instant appeal of the assessee was filed against the order of the Learned Commissioner of Income-tax (Appeals)-56, Mumbai *for brevity, ‘Ld.CIT(A)’+ passed under section 250 of the Income-tax Act, 1961 (for brevity the “Act”) for Assessment Year 2014-15, date of order 19/09/2024. The impugned order was emanated from the order of the Learned Assistant Commissioner of Income-tax,

2 ITA 5918/Mum/2024 Here Solutions India Pvt Ltd

Circle 10(1)(1), Mumbai (for

The order continues below.

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