M/S INFINERA INDIA PRIVATE LIMITED,BANGALORE vs. ITO, BANGALORE

M/s.Infinera India Pvt. Ltd. Prestige Solitaire, 401, Level 4, No.6, Brunton Road, Bengaluru-560025. PAN: AABCI 1411 R … Appellant Vs. Income-tax Officer, Ward 11(2), Bengaluru. … Respondent Appellant by : Shri Ali Asger, CA. Respondent by : Shri C.H.Sundar Rao, CIT(DR) Date of hearing : 20/11/2018 Date of pronouncement : 05/12/2018 O R D E R Per INTURI RAMA RAO, AM :

This is an appeal recalled in the order passed by this Tribunal vide order dated 06/07/2018 in Misc.Pen.No.121/Bang/2018 to adjudicate the comparability of the company M/s.Megasoft in the software segment. This issue is covered by the decision of the co- ordinate bench of Tribunal in the case of Tesco Hindustan Service Centre Pvt. Ltd., vs. DCIT (77 taxmann.com 48) and Core Objects India (P) Ltd. vs. ITO 72 taxmann.com 53(Bang.Trib). The relevant observation of the Tribunal in the case of Core Objects India (P) Ltd. (supra) is as follows:

“17. The next company for which exclusion is being requested is M/s Megasoft Ltd. It is submitted by the ld.AR of the assessee that about this company, the discussion is available on pages 34 to 36 of the Tribunal order rendered in the case of Hewlett-Packard (India) Globalsoft (P.) Ltd. (supra). We find that in this case, it was held

IT(TP)A No.1096/Bang/2011 Page 2 of 2 by the Tribunal that M/s Megasoft Ltd. should be considered as a good comparable after segmentation and therefore, in the present case, we direct the AO/TPO to consider this company i.e. M/s Megasoft Ltd., (supra) as a comparable after segmentation of its result.” Respectfully following the ratio of the above decision, this ground of appeal is allowed.