INFINEON TECHNOLOGIES INDIA PRIVATE LIMITED,BANGALORE vs. ACIT, BANGALORE

In the result, the assessee's appeal for Assessment Year 2008-09 is partly allowed

Bench: Smt. Asha Vijayaraghavan & Shri Jason P. Boazi.T. (T.P) A. No.1670/Bang/2012 S.P. No.120/Bang/2015 (Assessment Year : 2008-09) M/S. Infineon Technologies India Pvt. Ltd., Kalyani Platina, 3Rd Floor, Block 1, No.6 & 24, Epip Zone Phase 1, Whitefield, Bangalore-560 066 …. Appellant. Pan Aabcs 6967N Vs. Asst. Commissioner Of Income Tax, Circle 11(4), Bangalore. ….. Respondent. Appellant By : Shri K.R. Vasudevan, Advocate. Respondent By : Shri D. Sudhakara Reddy, Cit-Iii (D.R.) Date Of Hearing : 5.10.2015. Date Of Pronouncement : 6.11.2015. O R D E R Per Shri Jason P. Boaz, A.M. : This Appeal By The Assessee Is Directed Against The Order Of Assessment For Assessment Year 2008-09 By The Dcit, Circle 11(4), Bangalore Passed Under Section 143(3) Rws 144C Of The Income Tax Act, 1961 (In Short 'The Act') Vide Order Dt.29.10.2012, In Pursuance Of The Directions Issued By The Dispute Resolution Panel (‘Drp’) Under Section 144C(5) Rws 144C(8) Of The Act Vide Order Dt.17.9.2012. 2. The Facts Of The Case, Briefly, Are As Under :-

section 133(6) of the Act, is not economically valid. In doing so, the learned TPO erred in rejecting companies such as Akshay Software Technologies Limited, Prithvi Information Solutions Limited, Silverline Technologies Limited, Zylog Systems Limited and VJIL Consulting Limited. 6.15 in not maintaining consistency in applying the filters of rejecting companies with abnormal fluctuating margin, diminishing revenue/ persistent losses