CIT v. PTC Software (I) Pvt. Ltd.

TRUMPF (INDIA) PRIVATE LIMITED,PUNE vs. INCOME-TAX OFFICER, WARD 7(5), PUNE

In the result, the appeal is dismissed

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपील सं. / Ita No.442/Pun/2020 "नधा"रण वष" / Assessment Year : 2010-11

…on this count. 5. Having heard both the sides and gone through the relevant material on record, it is seen that this issue is no more res integra in view of the judgment of the Hon’ble jurisdictional High Court in CIT Vs. PTC Software (I) Pvt. Ltd. (2017) 395 ITR 176 (Bom.) holding that two companies with different financial year endings cannot be considered as comparable. The ld. AR was fair enough to accept the position against the assessee. We, therefore, countenance the exclusion of these two companies from the list of companies. II. ICC International Agencies Limited (Segment) : 6. The assessee inc…

COGNIZANT TECHNOLOGY SOLUTIONS INDIA P. LTD.(AS A SUCCESSOR TO COGNIZANT INDIA P. LTD. FORMERLY T SYSTEMS (I) P LTD.),PUNE vs. DCIT CIR.-7,, PUNE

In the result, the appeal filed by the assessee stands partly allowed

…tware development in the absence of segmental information qua the software services alone. Reliance in this regard can be placed on the following decisions :- (i) Steria India Ltd. vs. DCIT, 92 taxmann.com 120 (Delhi). (ii) CIT vs. PTC Software (I) (P.) Ltd., 395 ITR 176 (Bom.). 22. In the light of the above discussions, we are of the considered view that the company “Megasoft Limited” cannot be compared with that of the assessee company which is purely software development company. Hence, we direct the Assessing Officer/TPO to exclude this company from the list of the comparables. Thus, this ground of appeal no.…

M/S. OCWEN FINANCIAL SOLUTIONS PRIVATE LIMITED,,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 11,, PUNE

In the result, appeal of the assessee is partly allowed

Bench: Shri R.S.Syal, Vp & Shri Partha Sarathi Chaudhury, Jm आयकर अपीऱ सं. / Ita No. 2520/Pun/2017 नििाारण वषा / Assessment Year : 2013-14 M/S. Ocwen Financial Solutions Private Limited. Pritech Park, Block-12, Unit-2, 5B & 6A Floors, Bellandur Village, Sarjapur, Marathahalli Ring Road, Bangalore-560 103. Pan : Aaaco3764E .......अऩीऱाथी / Appellant बिाम / V/S. The Assistant Commissioner Of Income Tax, Circle-11, Pune. ……प्रत्यथी / Respondent

…al was of the opinion that “if the financials of the corresponding period is available then it cannot be rejected simply on the ground that it has a different financial year.” 13. The Hon‟ble Bombay High Court in the case of CIT Vs. PTC Software (I)(P) Ltd., 395 ITR 176 has held that data to be used for comparability analysis should be of same financial year in which international transaction were entered into by the tested party. Their Lordship vide Para 11 of the order has observed that in terms of Rule 10B(4) of the Income Tax Rules, 1962, the analysis for comparison shall be on the data relating to the finan…

ROSEMOUNT TANK GAUGING INDIA PVT.LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,, PUNE

In the result, the appeal is allowed for statistical purposes

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.422/Pun/2017 िनधा"रण वष" / Assessment Year : 2012-13 Rosemount Tank Gauging India Pvt. Vs. Dcit, Circle-5 Ltd., Pune 5Th Floor, Plot No.23, Rajiv Gandhi Infotech Park, Phase-Ii, Hinjewadi, Pune – 411 057 Pan : Aadcs9297H Appellant Respondent

…n be seen that the year ending of this company is 30-09-2012. As against that, the assessee is maintaining its accounts on financial year ending basis. The Hon’ble Bombay High Court in CIT Vs. PTC 11 Rosemount Tank Gauging India Pvt. Ltd., Software (2017) 395 ITR 176 (Bom.) has held that the companies with different financial year endings cannot be considered as comparable under Rule 10B. Without going into further analysis and following the precedent on this preliminary issue, we order to delete this company from the list of comparables. 15. Ground no.5 is against making transfer pricing addition on the e…

BEKAERT INDUSTRIES PRIVATE LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, the appeal is partly allowed for statistical

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.571/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Bekaert Industries Private Vs. Dcit, Circle-1(1), Limited, Pune Plot No.127, Sr.No.232/1+2, Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.541/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Dcit, Circle-1(1), Vs. Bekaert Industries Private Pune Limited, Plot No.B-1, Midc, Ranjangaon, Tal Shirur, Dist. Pune 419210 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.976/Pun/2016 िनधा"रण वष" / Assessment Year : 2011-12 Bekaert Industries Private Limited, Vs. Dcit, Circle-1(1), Plot No.127, Sr.No.232/1+2, Pune Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent Shri T. Vijaya Bhaskar Reddy

…e as the year ending as against the assessee following financial year, namely, year ending on 31st March. Thus, there is basic difference in the year ending periods of the assessee and the company. The Hon’ble Bombay High Court in CIT Vs. PTC Software (2017) 395 ITR 176 (Bom.) has held that the companies with different financial year endings cannot be considered as comparable under Rule 10B(4). In addition, there are certain other functional differences also between the assessee and Coral Hub Ltd. on the first issue itself, namely, having different year ending vis-à- vis the assessee. This company is, therefo…

BEKAERT INDUSTRIES PRIVATE LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, the appeal is partly allowed for statistical

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.571/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Bekaert Industries Private Vs. Dcit, Circle-1(1), Limited, Pune Plot No.127, Sr.No.232/1+2, Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.541/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Dcit, Circle-1(1), Vs. Bekaert Industries Private Pune Limited, Plot No.B-1, Midc, Ranjangaon, Tal Shirur, Dist. Pune 419210 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.976/Pun/2016 िनधा"रण वष" / Assessment Year : 2011-12 Bekaert Industries Private Limited, Vs. Dcit, Circle-1(1), Plot No.127, Sr.No.232/1+2, Pune Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent Shri T. Vijaya Bhaskar Reddy

…e as the year ending as against the assessee following financial year, namely, year ending on 31st March. Thus, there is basic difference in the year ending periods of the assessee and the company. The Hon’ble Bombay High Court in CIT Vs. PTC Software (2017) 395 ITR 176 (Bom.) has held that the companies with different financial year endings cannot be considered as comparable under Rule 10B(4). In addition, there are certain other functional differences also between the assessee and Coral Hub Ltd. on the first issue itself, namely, having different year ending vis-à- vis the assessee. This company is, therefo…

DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE vs. BEKAERT INDUSTRIES PVT. LTD.,, PUNE

In the result, the appeal is partly allowed for statistical

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.571/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Bekaert Industries Private Vs. Dcit, Circle-1(1), Limited, Pune Plot No.127, Sr.No.232/1+2, Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.541/Pun/2015 िनधा"रण वष" / Assessment Year : 2010-11 Dcit, Circle-1(1), Vs. Bekaert Industries Private Pune Limited, Plot No.B-1, Midc, Ranjangaon, Tal Shirur, Dist. Pune 419210 Pan : Aaacb8571E Appellant Respondent आयकर अपील सं. / Ita No.976/Pun/2016 िनधा"रण वष" / Assessment Year : 2011-12 Bekaert Industries Private Limited, Vs. Dcit, Circle-1(1), Plot No.127, Sr.No.232/1+2, Pune Friends Co-Operative Hsg. Soc., New Airport Road, Behind Idbi, Sakore Nagar, Vimannagar, Pune – 411 014 Pan : Aaacb8571E Appellant Respondent Shri T. Vijaya Bhaskar Reddy

…e as the year ending as against the assessee following financial year, namely, year ending on 31st March. Thus, there is basic difference in the year ending periods of the assessee and the company. The Hon’ble Bombay High Court in CIT Vs. PTC Software (2017) 395 ITR 176 (Bom.) has held that the companies with different financial year endings cannot be considered as comparable under Rule 10B(4). In addition, there are certain other functional differences also between the assessee and Coral Hub Ltd. on the first issue itself, namely, having different year ending vis-à- vis the assessee. This company is, therefo…

BMC SOFTWARE INDIA PRIVATE LIMITED,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri R.S.Syal, Vp & Shri Partha Sarathi Chaudhury, Jm आयकर अपीऱ सं. / Ita No.189/Pun/2014 नििाारण वषा / Assessment Year : 2009-10 Bmc Software India Private Limited, Tower A, Icc Tech Park, Senapati Bapat Road, Pune-411 016. Pan : Aabcb6110E .......अऩीऱाथी / Appellant बिाम / V/S.

…आयकर अपीऱीय अधिकरण “सी” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, PUNE BEFORE SHRI R.S.SYAL, VP AND SHRI PARTHA SARATHI CHAUDHURY, JM आयकर अपीऱ सं. / ITA No.189/PUN/2014 नििाारण वषा / Assessment Year : 2009-10 BMC Software India Private Limited, Tower A, ICC Tech Park, Senapati Bapat Road, Pune-411 016. PAN : AABCB6110E .......अऩीऱाथी / Appellant बिाम / V/s. The Deputy Commissioner of Income Tax, Circle 1(1), Pune. ……प्रत्यथी / Respondent Assessee by : Shri Madhur Agarwal Revenue by : Shri Neeraj Bansal, CIT & Shri Mugda Sardeshmukh, JCIT सुनवाई की तारीख / Date of Hearing : 21.08.2…

BMC SOFTWARE INDIA PVT. LTD.,,PUNE vs. DCIT, CIRCLE 1(1), PUNE

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.2549/Pun/2012 िनधा"रण वष" / Assessment Year : 2008-09

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “C”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER आयकर अपील सं. / ITA No.2549/PUN/2012 िनधा"रण वष" / Assessment Year : 2008-09 BMC Software India Private DDIT, Circle-1(1), Limited, Pune – 411 037 Vs. Tower A, ICC Tech Park, Senapati Bapat Road, Pune – 411 016 PAN : AABCB6110E (Appellant) (Respondent) Assessee by Shri Madhur Agarwal Revenue by Shri O.A. Mao, CIT Date of hearing 09-08-2019 Date of pronouncement 19-08-2019 आदेश / ORDER PER R.S.SYAL, VP : This appeal by the assessee is directed against the final a…