GXS INDIA TECHNOLOGY CENTRE PRIVATE LIMITED,BANGALORE vs. ITO, BANGALORE

ITA 1444/BANG/2012Status: DisposedITAT Bangalore31 July 2015AY 2008-0949 pages
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What did the Tribunal hold?

The Tribunal directed the Assessing Officer (AO)/TPO to re-compute the ALP by conducting a fresh exercise of selecting suitable comparables. The Tribunal also decided the issue regarding Section 10A deduction in favour of the assessee, following its own previous order.

What were the facts?

The assessee, a software development company, reported international transactions with its associated enterprise. The Transfer Pricing Officer (TPO) rejected most of the comparables selected by the assessee and proposed an upward adjustment to the arm's length price (ALP). The assessee also claimed deduction under Section 10A.

What were the issues?

The primary issues were the selection of comparable companies for determining the arm's length price (ALP) of international transactions and the eligibility for deduction under Section 10A.

Which sections of the Income-tax Act were involved?

Section 92CA,Section 10A,Section 234B,Section 234D

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Income Tax Appellate Tribunal, BANGALORE BENCH ‘C’, BANGALORE

Before: SHRI ABRAHAM P GEORGE, QCCOUNTANT MEMBER & SHRI VIJAY PAL RAO

For Appellant: Shri K.R.Vasudevan, Advocate
For Respondent: Shri Sunil Kumar Aggarwal, JCIT

PER SHRI VIJAYPAL RAO, JM:

This appeal by the assessee is directed against the assessment order

passed u/s 143(3) r.w.s.144C(13) of the IT Act, 1961 in pursuant to the directions of DRP dated 26-06-2012 for the assessment year 2008-09. 2. The assessee is a company incorporated in India and was established as 100% EOU registered under Software Technological Parks of 2 ITA No.1444(Bang)12

India (SWTPI) at Bangalore. The assessee is a company primarily engaged

in designing and development of software for its parent company. The assessee reported international transactions with its AE

The order continues below.

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