PR. COMMISSIONER OF INCOME TAX Vs. BARCLAYS TECHNOLOGY CENTRE INDIA PRIVATE LTD.
LAWS(BOM)-2018-6-272
HIGH COURT OF BOMBAY
Decided on June 26,2018

Pr. Commissioner Of Income Tax Appellant
VERSUS
Barclays Technology Centre India Private Ltd. Respondents

JUDGEMENT

M.S. Sanklecha, J. - (1.) This appeal under Section 260A of the Income Tax Act, 1961(Act) challenges the order dated 28.1.2015 of the Income Tax Appellate Tribunal (Tribunal). The impugned order dated 28.1.2015 is in respect of Assessment Year 2008-09.
(2.) The Revenue has urged following question of law for our consideration: " Whether on the facts and in the circumstances of the case and in law, the Tribunal is justified in law in excluding M/s. E Zest Solutions Ltd., M/s. FCS Software Ltd., M/s. KALS information Systems Ltd. and M/s. Bodhtree Consulting Ltd. from the set of comparable selected by the TPO ?"
(3.) The Respondent/Assessee is engaged in rendering software development services to its Associated Enterprises (AE) worldwide on captive basis at cost plus basis. For the purposes of determining the Arm's Length Price (ALP) of the services rendered by the Respondent to its AE's, the impugned order excluded EZest Solutions Ltd., Kals Information Systems Ltd., Bodhtree Consulting Ltd., Infosys Technologies Ltd., FCS Software Solutions Ltd. from the list of comparable selected by the Transfer Pricing Officer (TPO). The parties are agreed that the Transactional Net Margin Method (TNMM) is the most appropriate method to determine the ALP of the Respondent's services to its AE's. ;


Click here to view full judgement.
Copyright © Regent Computronics Pvt.Ltd.