THE PR. COMMISSIONER OF INCOME TAX GURGAON vs. M/S EQUANT SOLUTIONS INDIA PVT LTD

Appeals stand disposed of in the above terms

Bench: MR. JUSTICE AJAY TEWARI,MRS. JUSTICE ALKA SARIN

Section 19 CA(3) of the Income Tax Act, 1961 (for short the 'Act') on 9th January, 2014 accepting TNMM as the most appropriate method, however, the Transfer Pricing Officer chose certain comparables for IT services and ITES services with a mean “OP/TC” of 25.17 of IT services and 30.45% for IT enabled services and proposed transfer pricing adjustments

M/S PUNJAB INSTITUTE OF MEDICAL SCIENCES, GARHA ROAD , JALANDHAR vs. COMMISSIONER OF INCOME TAX JALANDHAR AND ANR

Bench: MR. JUSTICE SANJEEV PRAKASH SHARMA,MR. JUSTICE SANJAY VASHISTH

transferring 1.65 acres of land from Punjab Agriculture University, Ludhiana to PIMS-Society, Jalandhar. The Governing Council was formed headed by Chief Minister. A Director was appointed by the State Government. The society was registered in 1994. The State Government granted a sum of ` 3 crores in the year 1994-95. In 1996, an Architect was appointed to prepare master