M/S. EATON TECHNOLOGIES PRIVATE LIMITED (ERSTWHILE INDUSTRIES PRIVATE LIMITED),PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, PUNE

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ITA 743/PUN/2017Status: DisposedITAT Pune16 September 2022AY 2012-135 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that M/s. Excel Infosys Ltd. was not a valid comparable due to its diverse activities and volatile margins. Similarly, M/s. Universal Print Systems Ltd. was also excluded as it lacked functional similarity in the ITES segment.

What were the facts?

The assessee challenged the transfer pricing adjustment made by the TPO for ITES services provided to overseas AEs. The primary issue was the inclusion of two companies, M/s. Excel Infosys Ltd. and M/s. Universal Print Systems Ltd., as comparables.

What were the issues?

Whether M/s. Excel Infosys Ltd. and M/s. Universal Print Systems Ltd. were appropriate comparables for determining the arm's length price of ITES services.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, PUNE

Before: SHRI S.S.GODARA, JM & SHRI G.D. PADMAHSHALI, AM

For Appellant: Shri Vishal Karla
For Respondent: Shri Prashant Gadekar
Hearing: 26.08.2022Pronounced: 16.09.2022

आदेश की प्रधतधलधप अग्रेधषत / Copy of the Order forwarded to : अपीलाथी / The Appellant. 1. प्रत्यथी / The Respondent. 2. 3. The DRP -3, Mumbai 4. The CIT-3, Pune. धवभागीय प्रधतधनधध, आयकर अपीलीय अधधकरण, “सी” बेंच, 5. पुणे / DR, ITAT, “C” Bench, Pune. गार्ा फ़ाइल / Guard File. 6. आदेशानुसार / BY ORDER, // True Copy //

Senior Private Secretary आयकर अपीलीय अधधकरण, पुणे / ITAT, Pune.

Eaton Technologies Private Ltd.,

S.No. Details Date Initials 1 Draft dictated on 02.09.2022 2 Draft placed before author 13.09.2022 Draft proposed & placed before the Second 3 Member 4 Draft discussed/approved by Second Member 5 Approved Draft comes to the Sr. PS/PS 6 Kept for pronouncement on 7 Date of uploading of Order 8 File sent to Bench Clerk 9 Date on which the file goes to the Head Clerk 10 Date on which file goes to the A.R. 11 Date of Dispatch of order

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