Acuity Knowledge Center (India) Private Limited (formerly known as Moody's Analytics Knowledge Services (India) Private Limited), Bangalore V. The Deputy Commissioner of Income Tax Circle-4(1)(2), Bangalore

MA 66/BANG/2021

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 5695 (ITAT-BANGALORE)
• Duration Of Justice: 2 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 17-09-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 14-07-2021
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ELAMURUSU G
• Assessee Lawyers: C NARAYANAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER M.P NO.66/BANG/2021 IT(TP)A NO.459/BANG/2019 ASSESSMENT YEAR : 2007-08 ACUITY KNOWLEDGE CENTER (INDIA) PVT. LTD., (FORMERLY KNOWN AS MOODYS ANALYTICS KNOWLEDGE SERVICES (INDIA PRIVATE LIMITED) ELIXIR CHANCERY BUILDING, 7 TH FLOOR, MUNICIPAL DOOR #135/1-2, RESIDENCY ROAD, BENGALURU-560 025. PAN AAECA 9391 H VS. THE DY. COMMISSIONER OF INCOME-TAX, CIRCLE-4(1)(2), BENGALURU. APPELLANT RESPONDENT ASSESSEE BY : SHRI C NARAYANAN, C.A REVENUE BY : SHRI ELAMURUSU G, JCIT (DR) DATE OF HEARING : 03-09-2021 DATE OF PRONOUNCEMENT : 17-09-2021 ORDER PER BEENA PILLAI, JUDICIAL MEMBER PRESENT MISCELLANEOUS PETITION HAS BEEN FILE D BY ASSESSEE SEEKING CERTAIN ALLEGED MISTAKES ON RECORD IN THE I MPUGNED ORDER PASSED BY THIS TRIBUNAL DATED 25/03/2021. 2. IT WAS SUBMITTED THAT WHILE DECIDING GROUND NO.9 THIS TRIBUNAL MISSED OUT ADJUDICATING OF ISERVICES INDIA PVT.LTD . PAGE 2 OF 4 MP NO.66/BANG/2021 2.1 ON PERUSAL OF RECORD WE NOTE THAT THIS COMPARAB LE HAS BEEN INADVERTANTELY MISSED OUT. 2.1 IT IS ALSO BEEN SUBMITTED THAT WHILE CONSIDERIN G THE COMPARABILITY OF ASITIC MEHTA FINANCIAL SERVICES LT D. WITH THAT OF ASSESSEE UNDER ITES SEGMENT, THIS TRIBUNAL REMANDED THE ISSUE BACK TO LD.AO/TPO TO VERIFY THE RPT. 2.2 THE LD.AR SUBMITTED THAT ASSESSEE HAD FILED VAR IOUS SUBMISSIONS ALLEGING THAT THIS COMPARABLE IS INTO S WD AS WELL AS ITES SEGMENT AND NO SEGMENTAL DETAILS WERE AVAILABL E. HE SUBMITTED THAT THIS FACT HAS NOT BEEN RECORDED BY T HIS TRIBUNAL. 2.3 ON THE CONTRARY THE LD.SR.DR SUBMITTED THAT THI S COMPARABLE HAS BEEN REMANDED TO THE LD. AO/TPO AND NO PREJUDICE IS CAUSED TO ASSESSEE. 2.4 WE HAVE PERUSED SUBMISSIONS ADVANCED BY BOTH SI DES IN LIGHT OF RECORDS PLACED BEFORE US. 2.5 WE NOTE THAT REGARDING SEGMENTAL DETAILS OF ASI TIC MEHTA THIS TRIBUNAL OBSERVED THAT, THE SAME IS AVAILABLE AT PAGE 1785 OF ANNUAL REPORT. HOWEVER IT IS ONLY IN RESPECT OF THE REVENUE EARNED UNDER THE 2 SEGMENTS BUT THE EXPENDITURE ALL OCABLE TO THE 2 SEGMENTS WERE NOT BIFURCATED. HOWEVER AS THE ISSU E OF COMPARABILITY OF THIS COMPARABLE HAS BEEN REMANDED TO THE LD.AO/TPO, WE ALSO DIRECT THE LD. AO/TPO BY INCLUDI NG FOLLOWING LINE AT THE END OF PARA 31 AS UNDER: THE LD.AO/TPO SHALL ALSO VERIFY THE SWD SEGMENT OF THIS COMPANY. ASSESSEE IS DIRECTED TO FILE ALL THE DETAI LS IN RESPECT OF THIS COMPANY TO ESTABLISH ITS CLAIM. THE PAGE 3 OF 4 MP NO.66/BANG/2021 LD.AO/TPO SHALL VERIFY THE DETAILS FILED BY ASSESSE E IN ACCORDANCE WITH LAW. IN THE EVENT IT IS FOUND THAT THIS COMPANY IS INTO PRODUCTS AS HAS BEEN SUBMITTED BY T HE LD.AR, THE SAME SHALL BE EXCLUDED. ACCORDINGLY THIS ISSUE RAISED BY ASSESSEE STANDS AL LOWED. 2.6 REGISTRY IS DIRECTED TO FIX THE APPEAL FOR HEAR ING ONLY TO ADJUDICATE THE COMPARABLE ISERVICES INDIA PVT.LTD. IN THE RESULT THE CLEANEST PETITION FILED BY ASSESS EE STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 17 TH SEPT, 2021 SD/- SD/- (CHANDRA POOJARI) (BEENA PILLAI) ACCOUNTANT MEMBER JUDICIAL ME MBER BANGALORE, DATED, THE 17 TH SEPT, 2021. /VMS/ COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE PAGE 4 OF 4 MP NO.66/BANG/2021 DATE INITIAL 1. DRAFT DICTATED ON ON DRAGON SR.PS 2. DRAFT PLACED BEFORE AUTHOR -9-2021 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER -9-2021 JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. -9-2021 JM/AM 5. APPROVED DRAFT COMES TO THE SR.PS/PS -9-2021 SR.PS/PS 6. KEPT FOR PRONOUNCEMENT ON -9-2021 SR.PS 7. DATE OF UPLOADING THE ORDER ON WEBSITE -9-2021 SR.PS 8. IF NOT UPLOADED, FURNISH THE REASON -- SR.PS 9. FILE SENT TO THE BENCH CLERK -9-2021 SR.PS 10. DATE ON WHICH FILE GOES TO THE AR 11. DATE ON WHICH FILE GOES TO THE HEAD CLERK. 12. DATE OF DISPATCH OF ORDER. 13. DRAFT DICTATION SHEETS ARE ATTACHED NO SR.PS