ITAT Bangalore Judgments — April 2016

The Tribunal held that Infosys Technologies Ltd. cannot be considered a comparable due to its giant status and assumption of all risks, unlike the assessee's captive unit. L&T Infotech and Satyam Computer Services were upheld as comparables. The deduction under Section 10A was allowed based on the jurisdictional High Court's decision.

The Tribunal held that since the Section 263 order was set aside by a prior Tribunal order, the subsequent assessment order became invalid. Therefore, the Revenue's appeal against the CIT(Appeals) order was not maintainable.

The Revenue's counsel moved an application for withdrawal of the appeal, and the assessee had no objection. Consequently, the Tribunal dismissed the appeal as withdrawn.