M/s Travel Security Services (India) Pvt. Ltd., New Delhi V. DCIT, New Delhi

ITA 6828/DEL/2015

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 3577 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 3 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-04-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: I1
• Next Hearing Date: 11-04-2017
• Assessment Year: 2011-2012
• Appeal Filed On: 29-12-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: AJAY VOHRA SR SHRI NEERAJ JAIN
• Keywords: Transfer pricing; International transaction
• Section: 143(3); 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : I : NEW DELHI BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER ITA NO.6828/DEL/2015 ASSESSMENT YEAR : 2011-12 TRAVEL SECURITY SERVICES (INDIA) PVT. LTD., SUIT NO.603-04, 6 TH FLOOR, COPIA CORPORATION SUITES, PLOT NO.9, JASOLA DISTRICT CENTRE, NEW DELHI. PAN: AACCT9754B VS. DCIT, CIRCLE 25(2), NEW DELHI. (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI AJAY VOHRA, SR. ADVOCATE, SHRI NEERAJ JAIN, ADVOCATE & MS DEEPIKA AGARWAL, CA DEPARTMENT BY : SHRI NEERAJ KUMAR, SR.DR DATE OF HEARING : 11.04.2017 DATE OF PRONOUNCEMENT : 12.04.2017 ORDER PER R.S. SYAL, VP: THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST TH E FINAL ASSESSMENT ORDER DATED 30.11.2015 PASSED BY THE ASSESSING OFFI CER (A.O) U/S 143(3) ITA NO.6828/DEL/2015 2 READ WITH SECTION 144C OF THE INCOME-TAX ACT, 1961 (HEREINAFTER ALSO CALLED THE ACT) IN RELATION TO THE ASSESSMENT YEA R 2011-12. 2. THE ONLY ISSUE RAISED IN THIS APPEAL IS AGAIN ST THE ADDITION ON ACCOUNT OF TRANSFER PRICING ADJUSTMENT. 3. BRIEFLY STATED, THE FACTS OF THE CASE ARE THAT T HE TRAVEL SECURITY GROUP (TSS, UK) IS A JOINT VENTURE BETWEEN CONTROL RISKS GROUP (A UK BASED SECURITY SERVICES FIRM) AND BLUE CROSS TRAVEL SERVICES B.V. (AN INTERNATIONAL SOS GROUP COMPANY). TSS UK PROVIDES A COMPREHENSIVE CORPORATE SECURITY PROGRAMME CATERING TO ITS CLIENT S. THE CORPORATE SECURITY PROGRAMME INVOLVES TRAVEL SECURITY SERVICE S FOR INTERNATIONAL TRAVELERS AND EXPATRIATES INCLUDING ANALYSIS, ASSIS TANCE AND CONSULTANCY. TSS UKS CLIENTS COMPRISE OF MULTINATIONAL CORPORAT IONS, GOVERNMENT AND NON-GOVERNMENT ORGANIZATIONS ACROSS THE WORLD. THE SERVICES PROVIDED BY TSS UK COMPRISE OF THE FOLLOWING:- PROVIDING PROPRIETARY COUNTRY AND CITY SECURITY RIS K RATINGS; ASSISTANCE IN PROVIDING SECURITY INFORMATION FOR 22 0 COUNTRIES AND TERRITORIES; ITA NO.6828/DEL/2015 3 RELEASING SECURITY GUIDES FOR MORE THAN 330 CITIES; PROVIDING DAILY UPDATES ON INCIDENTS AND DEVELOPMEN TS IN VARIOUS TERRITORIES INCLUDING EVACUATION ADVISORIES; PROVIDING SECURITY ADVICE FOR TRAVELERS; AND RELEASING WEEKLY REGIONAL SECURITY FORECASTS. 4. THE ASSESSEE IS A SUBSIDIARY OF TSS UK WHICH WAS INCORPORATED IN INDIA ON 03.07.2008. DURING THE YEAR UNDER CONSIDE RATION, THE ASSESSEE RENDERED THE FOLLOWING SUPPORT SERVICES TO TSS UK:- ANALYSIS AND ADVICE ON ANY SECURITY THREATS GLOBALL Y; SECURITY INFORMATION AND GUIDES; ANALYZE SHIFTING POLITICAL AND SOCIAL SITUATIONS AS WELL AS NATURAL DISASTERS; WEEKLY REGIONAL SECURITY FORECAST; COUNTRY AND RISK RATINGS; UPDATES ON INCIDENTS AND DEVELOPMENTS, INCLUDING EV ACUATION ADVISORIES; AND ITA NO.6828/DEL/2015 4 MEDICAL ALERTS, PANDEMIC INFORMATION SERVICES AS WE LL AS UP-TO- DATE REPORTING ON OUTBREAK OF MEDICAL DISEASES. 5. AN INTERNATIONAL TRANSACTION OF PROVISION OF TR AVEL SECURITY SERVICES WITH A TRANSACTED VALUE OF RS.5,38,27,610 /- WAS DECLARED IN FORM NO.3CEB. THE AO MADE A REFERENCE TO THE TRANS FER PRICING OFFICER (TPO) FOR DETERMINING THE ALP OF THIS INTER NATIONAL TRANSACTION. THE ASSESSEE EMPLOYED TRANSACTIONAL NET MARGIN METH OD (TNMM) AS THE MOST APPROPRIATE METHOD WITH PROFIT LEVEL INDIC ATOR (PLI) OF OPERATING PROFIT/TOTAL COST (OP/TC). 13 COMPARABLE COMPANIES WERE CHOSEN BY THE ASSESSEE WITH THEIR AVERAGE OP/TC AT 5.99%, WHICH WAS LESS THAN THE ASSESSEES OP/TC AT 6.16%. THAT IS H OW, THE ASSESSEE CLAIMED THAT ITS INTERNATIONAL TRANSACTION WAS AT A RMS LENGTH PRICE (ALP). THE TPO DID NOT DISPUTE THE APPLICATION OF TNMM AS THE MOST APPROPRIATE METHOD AND ALSO THE PLI. HE, HOWEVER, S HORTLISTED SEVEN COMPANIES AS COMPARABLE AND DETERMINED THEIR AVERAG E OP/TC AT 26.52%, WHICH LED TO PROPOSING A TRANSFER PRICING A DJUSTMENT OF RS.92,95,316. AGGRIEVED WITH THE DRAFT ORDER OF TH E AO CONTAINING ITA NO.6828/DEL/2015 5 ADDITION FOR SUCH AN AMOUNT, THE ASSESSEE APPROACHE D THE DISPUTE RESOLUTION PANEL (DRP), WHICH EXCLUDED TWO COMPANIE S FROM THE TPOS LIST. THUS, IN ALL, FIVE COMPANIES WERE RETA INED BY THE DRP IN THE LIST OF COMPARABLES GIVING AVERAGE OP/TC AT 17.11%. THAT IS HOW, TRANSFER PRICING ADDITION AMOUNTING TO RS.46,00,511 /- WAS MADE IN THE IMPUGNED ORDER. THE ASSESSEE IS AGGRIEVED AGAINST THIS TRANSFER PRICING ADDITION. 6. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE RELEVANT MATERIAL ON RECORD. THERE IS NO DISPUTE AS REGARDS THE APPLICATION OF TNMM AS THE MOST APPROPRIATE METHOD AND OP/TC AS TH E PLI FOR THE INTERNATIONAL TRANSACTION OF `PROVISION OF TRAVEL S ECURITY SERVICES. IN FACT, THE ENTIRE CHALLENGE IS CONFINED TO RETAINING TWO COMPANIES IN THE LIST OF COMPARABLES, NAMELY, APITCO LTD. AND TSR DARASHAW LIMITED. 7. IN ORDER TO JUDGE THE COMPARABILITY OR OTHERWI SE OF THESE TWO COMPANIES, IT IS SINE QUA NON TO CONSIDER THE FUNCTIONAL PROFILE OF THE ASSESSEE. WE HAVE REFERRED TO THE NATURE OF ACTIVI TIES DONE BY THE ASSESSEE HEREINABOVE FROM WHICH IT IS APPARENT THAT THE ASSESSEE IS ITA NO.6828/DEL/2015 6 ENGAGED IN PROVIDING TRAVEL SECURITY SERVICES TO IT S AES WHICH ARE MEANT FOR THE CLIENTS OF THE LATTER. SUCH SERVICES INCL UDE ANALYSIS AND ADVICE ON ANY SECURITY THREATS GLOBALLY; SECURITY INFORMAT ION AND GUIDES; ANALYZE SHIFTING POLITICAL AND SOCIAL SITUATIONS AS WELL AS NATURAL DISASTERS; WEEKLY REGIONAL SECURITY FORECAST; COUNT RY AND RISK RATINGS; UPDATES ON INCIDENTS AND DEVELOPMENTS, INCLUDING EV ACUATION ADVISORIES; AND MEDICAL ALERTS, PANDEMIC INFORMATIO N SERVICES AS WELL AS UP-TO-DATE REPORTING ON OUTBREAK OF MEDICAL DISEASE S. FROM THE ABOVE NATURE OF SERVICES, IT IS MANIFEST THAT THE ASSESSE E, IN A NUTSHELL, IS ENGAGED IN PROVIDING TRAVEL SECURITY SERVICES. WIT H THE ABOVE UNDERSTANDING OF THE FUNCTIONAL PROFILE OF THE ASSE SSEE, LET US EXAMINE THE COMPARABILITY OR OTHERWISE OF THE ABOVE REFERRE D TWO COMPANIES IN SERIATIM. (I) APITCO LTD . 8. THE TPO PROPOSED THE INCLUSION OF THIS COMPANY W HICH WAS OBJECTED TO BY THE ASSESSEE. IT WAS STATED THAT TH IS COMPANY WAS PRIMARILY ENGAGED IN PROVIDING HIGH END CONSULTANCY SERVICES BY ITA NO.6828/DEL/2015 7 PREPARING PROJECT FEASIBILITY REPORTS AND CARRYING OUT MARKET/OTHER SERVICE AND, HENCE, FUNCTIONALLY DIFFERENT. THE TP O REFUSED TO ACCEPT THE ASSESSEES CONTENTION AND EVENTUALLY INCLUDED I T IN THE LIST OF COMPARABLES. NO RELIEF WAS ALLOWED BY THE DRP. 9. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE R ELEVANT MATERIAL AVAILABLE ON RECORD. THE TPO HAS REPRODUCED ON PAGE 14 OF HIS ORDER THE OBJECTIONS RAISED BY THE ASSESSEE BEFORE HIM ON THE COMPARABILITY OF THIS COMPANY. IT HAS BEEN RECORDED THAT THIS COMPANY EAR NED TOTAL REVENUE OF RS.1270.74 LACS, WHICH INCLUDES: CLUSTER DEVELOPMEN T RS.494.86 LAKHS; PROJECT RELATED SERVICES RS.365.66 LAKHS; ENTREPREN EURSHIP DEVELOPMENT & TRAINING RS.102.56 LAKHS; ASSET RECON STRUCTION & MANAGEMENT SERVICES RS.60.51 LAKHS; MICRO ENTERPRIS ES DEVELOPMENT RS.57.29 LAKHS; TOURISM & RESEARCH STUDIES RS.41.86 LAKHS; SKILL DEVELOPMENT RS.33.00 LAKHS; ENERGY RELATED SERVICES RS.23.21 LAKHS; ENVIRONMENT MANAGEMENT RS.15.38 LAKHS AND OTHER INC OME RS.76.41 LAKHS. ITA NO.6828/DEL/2015 8 10. A CAREFUL PERUSAL OF THE OPERATIONS CARRIED OUT BY APITCO LIMITED DECIPHERS THAT THIS COMPANY IS PROVIDING SERVICES I N THE NATURE OF PROJECT REPORT PREPARATION, TECHNICAL AND ECONOMIC STUDIES, FEASIBILITY STUDIES, MICRO ENTERPRISE DEVELOPMENT, SKILL DEVELOPMENT, PR OJECT MANAGEMENT CONSULTING, INDUSTRIAL CLUSTER DEVELOPMENT, ENVIRON MENTAL MANAGEMENT CONSULTING, ENERGY MANAGEMENT CONSULTING, MARKET AN D SOCIAL RESEARCH AND ASSET RECONSTRUCTION MANAGEMENT SERVICES. NO SE GMENT-WISE PROFITABILITY DATA OF THESE SERVICES IS AVAILABLE. THE TPO HAS CONSIDERED THIS COMPANY AS COMPARABLE ON ENTITY LEVEL. WE FIND THAT THERE IS A LITTLE RESEMBLANCE OF THE REVENUE FROM TOURISM & RESEARCH STUDIES RS.41.66 LAKH WITH THE OVERALL ACTIVITIES UNDERTAKEN BY THE ASSESSEE. UNDER SUCH CIRCUMSTANCES, WE FAIL TO APPRECIATE AS TO HOW ALL THE ABOVE LISTED SERVICES UNDERTAKEN BY THIS COMPANY AS ONE UNIT CAN BE CONSIDERED AS COMPARABLE WITH THE TOURISTS SAFETY SERVICES PRO VIDED BY THE ASSESSEE. 11. THE LD. DR STRENUOUSLY ARGUED THAT ALL THE ACTIVITIES DONE BY THIS COMPANY ARE BASICALLY `BUSINESS SERVICES' AND THE A SSESSEE IS ALSO RENDERING BUSINESS SERVICES. HE SUBMITTED THAT DIFF ERENTIATION OF ITA NO.6828/DEL/2015 9 FUNCTIONS IN THE OVERALL `BUSINESS SERVICES' UMBREL LA IS TAKEN CARE OF UNDER THE TNMM. HE HARPED ON THE CONTENTION THAT TH ERE IS NO REQUIREMENT TO HAVE IDENTICAL SERVICES FOR THE PURP OSE OF MAKING COMPARISON UNDER THE TNMM. 12. WE ARE UNABLE TO ACCEPT THIS ARGUMENT IN VIEW O F THE JUDGMENT OF THE HON'BLE JURISDICTIONAL HIGH COURT IN THE CASE O F RAMPGREEN SALES PVT. LTD. VS. CIT (2015) 377 ITR 533 (DEL) IN WHICH IT HAS BEEN HELD THAT THE COMPARABLES ARE TO BE SELECTED ON THE BASIS OF SIMILARITY EVEN UNDER TNMM. THE HON'BLE HIGH COURT HAS LAID DOWN THAT SEL ECTION OF COMPARABLES DOES NOT DIFFER WITH THE METHOD ADOPTED . EX CONSEQUENTI , IT IS NO MORE OPEN TO ARGUE THAT THE FUNCTIONAL DISSIM ILARITY OF THE COMPANIES UNDER THE OVERALL BROADER CATEGORY CAN BE IGNORED UNDER THE TNMM. 13. IN VIEW OF THE FOREGOING DISCUSSION, WE F IND THE FUNCTIONAL SIMILARITY OF APITCO LIMITED WANTING ON ENTITY LEVE L WITH THE ASSESSEE COMPANY. AS SUCH, WE ORDER FOR ITS EXCLUSION FROM T HE FINAL SET OF COMPARABLES. ITA NO.6828/DEL/2015 10 (II) TSR DARASHAW LIMITED . 14. THE TPO SELECTED THIS COMPANY AS COMPARABLE. T HERE IS NO DISCUSSION WHATSOEVER ABOUT THE FUNCTIONAL PROFILE OF THIS COMPANY IN THE ORDER OF THE TPO. THE DRP APPROVED THE INCLUSIO N OF THIS COMPANY, AGAINST WHICH THE ASSESSEE HAS APPROACHED US. 15. HAVING HEARD THE RIVAL SUBMISSIONS AND PERUS ED THE RELEVANT MATERIAL ON RECORD, WE FIND THAT THIS COMPANY IS A BROKING AND INVESTMENT BANKING HOUSE. AS PER ITS WEBSITE, TSRD L IS ONE OF INDIA'S LEADING BUSINESS PROCESS OUTSOURCING (BPO) ORGANIZA TIONS CERTIFIED UNDER ISO 9001:2008 GUIDELINES HAVING A TOTAL INDU STRY EXPERIENCE OF OVER 35 YEARS. TSRDL HAS STATE-OF-THE-ART IT CAPAB ILITIES AND WELL TRAINED HR WHICH ARE THE KEY REQUIREMENTS FOR HANDL ING BPO ACTIVITIES. TSRDL'S STRENGTH, CAPABILITIES AND INFRASTRUCTURE E NABLES IT TO HANDLE ANY LARGE, VOLUMINOUS, TIME BOUND PROCESSING ACTIVI TIES REQUIRING MEETING OF STRINGENT QUALITY AND SERVICE STANDARDS IN A REGULATORY ENVIRONMENT. DETAILS OF PRODUCTS AND SERVICES PROVI DED BY THIS COMPANY, AS DISCLOSED ON ITS WEBSITE, ARE AS UNDER : - ITA NO.6828/DEL/2015 11 'PAYROLL & EMPLOYEES' TRUST FUND ADMINISTRATION & MANAGEMENT - ALL THE ACTIVITIES NORMALLY HANDLED BY 'PAYROLL AND RETIREMENT FUNDS' SECTION IN THE ORGANIZATION, INCLUDING INTERFACE WITH REGULATORY AUTHORITIES, ARE TAKEN OV ER BY US. RECORD MANAGEMENT - STORAGE. RETENTION & RETRIEVAL OF PHYSICAL AND/OR ELECTRONIC RECORDS REGISTRAR & TRANSFER AGENTS FOR - EQUITY AND PREFERENCE SHARES. DEBENTURE INSTRUMENTS AND BONDS COMMERCIAL PAPER AND PRIVATE PLACEMENTS TRANSFER PROCESSING CUSTOMER/QUERY HANDLING AND CORRESPONDENCE . SPLIT/CONSOLIDATION/RENEWAL OF CERTIFICATES PROCESSING AND DISTRIBUTION OF INTEREST/DIVIDEND WARRANTS PAYMENTS BY PHYSICAL WARRANTS/THROUGH ECS/DIRECT CREDIT DEPOSITORY RELATED SERVICES ELECTRONIC CONNECTIVITY WITH NSDL/CDSL AND TRANSMISSION INFORMATION TO CLIENT COMPANIES THROUGH PREFERABL E ELECTRONIC MEDIA DEMATERIALIZATION/REMATERIALIZATION INTER-DEPOSITORY TRANSFERS ITA NO.6828/DEL/2015 12 REGISTRAR TO FIXED DEPOSIT SCHEMES ACCEPTANCE AND PROCESSING OF APPLICATIONS RENEWALS & REPAYMENTS PROCESSING & DISTRIBUTION OF INTEREST PAYMENTS THROUGH ECS OR PHYSICAL WARRANTS. RECONCILIATION OF PAYMENT OF INTEREST REGISTRY RELATED SERVICES : REGISTRAR TO ISSUES PUBLIC/RIGHTS/BONUS ISSUES SPECIAL PROJECTS BUY-BACK OF SHARES OPEN OFFERS MERGERS & DE-MERGERS SUB-DIVISION & EXCHANGE REDEMPTION OF DEBT INSTRUMENTS BULK PROCESSING & PRINTING CUSTOMER/INVESTOR ANALYTICAL SURVEYS ASSISTING CLIENT COMPANIES IN CONDUCTING MEETINGS AGM/EGM/COURT CONVENED MEETINGS POSTAL BALLOT HANDLING POLL RELATED ACTIVITIES 16. A NARRATION OF THE FOREGOING ACTIVITIES UNDERT AKEN BY THIS COMPANY ABUNDANTLY SHOWS THAT THERE ARE STRIKING DISSIMILAR ITIES WITH THE ASSESSEES TOURISTS SAFETY SERVICES. WE, THEREFORE , ORDER FOR THE EXCLUSION OF THIS COMPANY FROM THE FINAL SET OF COM PARABLES. ITA NO.6828/DEL/2015 13 17. TO SUM UP, WE SET ASIDE THE IMPUGNED ORDER ON T HE ISSUE OF ADDITION TOWARDS TRANSFER PRICING ADJUSTMENT AND RE MIT THE MATTER TO THE FILE OF AO/TPO FOR FRESH DETERMINATION OF THE ALP O F THE INTERNATIONAL TRANSACTION IN CONSONANCE WITH OUR ABOVE DIRECTIONS . NEEDLESS TO SAY, THE ASSESSEE WILL BE ALLOWED A REASONABLE OPPORTUNI TY OF BEING HEARD IN SUCH FRESH PROCEEDINGS. 18. BEFORE PARTING WITH THIS APPEAL, WE WANT TO REC ORD THAT THE LD. DR VEHEMENTLY ARGUED THAT THE COMPANIES INCLUDED BY TH E ASSESSEE IN THE LIST OF COMPARABLES ARE ALSO FUNCTIONALLY DISSIMILA R AND, HENCE, THOSE SHOULD ALSO BE EXCLUDED. THIS WAS SUBMITTED IN TH E BACKGROUND OF THE ABOVE REFERRED TWO COMPANIES, NAMELY, APITCO LTD. A ND TSR DARASHAW LIMITED., WHICH, IN HIS OPINION, WERE ALSO NOT FUNC TIONALLY SIMILAR. IT WAS HOWEVER STATED THAT THE ASSESSEE IN THE TRANSFE R PRICING STUDY REPORT HAS ITSELF ADMITTED THAT EXACTLY SIMILAR COMPANIES WERE NOT AVAILABLE. HE INSISTED ON EITHER EXCLUDING OTHER DISSIMILAR CO MPANIES ALSO IF THE ABOVE REFERRED TWO COMPANIES, NAMELY, APITCO LTD. AND TSR DARASHAW LIMITED, WERE TO BE EXCLUDED ON THE BASIS OF FUNCTIONAL ITA NO.6828/DEL/2015 14 DISSIMILARITY, OR, IN THE ALTERNATIVE, THE ABOVE R EFERRED TWO COMPANIES SHOULD ALSO BE RETAINED IN THE LIST OF COMPARABLES. 19. WE ARE NOT PERSUADED TO ACCEPT THIS CONTENTION PUT FORTH ON BEHALF OF THE REVENUE. IT GOES WITHOUT SAYING THAT THE CO MPANIES OFFERED BY THE ASSESSEE AS COMPARABLE, WHEN ACCEPTED BY THE TP O AS COMPARABLE, BECOME FINAL AND HENCE CANNOT BE CHALLENGED BY THE LD. DR. WE NEED TO ACCENTUATE ON THE ROLE OF THE LD. DR, WHICH IS C ONFINED TO SUPPORTING THE ASSESSMENT ORDER AND NOT RAISING A CONTENTION C ONTRARY TO THE ASSESSING OFFICER/TPO. IF THE AO GOES WRONG IN DECI DING A PARTICULAR THING, THEN THERE ARE OTHER REMEDIES PROVIDED IN TH E STATUTE. IN NO CASE, THE LD. DR CAN USURP THE POWER OF THE AO AND ARGUE CONTRARY TO THE DECISION OF THE AO/TPO. IN OUR CONSIDERED OPINION, ONCE THE TPO HAS ACCEPTED CERTAIN COMPANIES AS COMPARABLE AND THERE IS NO APPEAL BY THE REVENUE, THE LD. DR CANNOT CONTEND FOR EXCLUDING AN Y COMPANY, WHICH WAS ACCEPTED BY THE TPO AS COMPARABLE. IN VIEW OF THE FOREGOING DISCUSSION, WE ARE OF THE CONSIDERED OPINION THAT T HE ARGUMENT OF THE LD. ITA NO.6828/DEL/2015 15 DR FOR EXCLUDING CERTAIN COMPANIES FROM THE LIST OF COMPARABLES WHICH HAVE BEEN ACCEPTED BY THE TPO AS SUCH, CANNOT BE CO UNTENANCED. 20. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATIS TICAL PURPOSES. THE ORDER PRONOUNCED IN THE OPEN COURT ON 12.04.201 7. SD/- SD/- [SUCHITRA KAMBLE] [R.S. SYAL] JUDICIAL MEMBER VICE PRESIDENT DATED, 12 TH APRIL, 2017. DK COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT AR, ITAT, NEW DELHI.