XORIANT SOLUTIONS PRIVATE LIMITED, MUMBAI V. DCIT CIRCLE 3 ( 3) (1), MUMBAI

MA 87/MUM/2021

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 8652 (ITAT-MUMBAI)
• Duration Of Justice: 3 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 14-07-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: J
• Assessment Year: 2010-2011
• Appeal Filed On: 23-03-2021
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SANJAY J SETHI
• Assessee Lawyers: PANKAJ TOPRANI
• Keywords: Rectification of order
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH J MUMBAI BEFORE SHRI SHAMIM YAHYA ACCOUNTANTMEMBER AND SHRI PAVAN KUMAR GADALE JUDICIAL MEMBER) M.A. NO. 87/MUM/2021 (ITA NO. 4546/MUM/2017) ASSESSMENT YEAR: 2010-11 XORIANT SOLUTIONS PVT. LTD., WINCHESTER, HIGH STREET, HIRANANDANI CO-OPERATIVE PARK, POWAI, MUMBAI-400076. VS. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(3)(1), AAYAKARBHAVAN, M.K. ROAD, MUMBAI-400020 PAN NO. AAACX 0146 P APPELLANT RESPONDENT ASSESSEE BY : MR. PANKAJ TOPRANI, AR REVENUE BY : MR. SANJAY J. SETHI, DR DATE OF HEARING : 09/07/2021 DATE OF PRONOUNCEMENT : 14/07/2021 ORDER PER PAVAN KUMAR GADALE, J.M. THE ASSESSEE HAS FILED THE MISCELLANEOUS APPLICATION (MA) NO. 87/MUM/2021 FOR THE ASSESSMENT YEAR 2010-11 IN ITA NO. 4546/MUM/2017 DATED 15.01.2020 FOR RECTIFICATION OF MISTAKE APPARENT FROM RECORD. XORIANT SOLUTIONS PVT. LTD. MA NO. 87/M/2021 2 2. THE LD. AR SUBMITTED THAT THE HONBLE TRIBUNAL HAS RECORDED A FINDING IN PAGE 8 PARA 8 OF THE ORDER THAT THE LD.AR IS PRESSING GROUND NO. 4 AND 5 AND NOT PRESSING ANY OTHER GROUND. WHEREAS, THE GROUND NO. 4 IS IN RELATION TO NON ACCEPTANCE OF CPM METHOD BY THE REVENUE AUTHORITIES AND TNMM METHOD WAS ADOPTED WITHOUT REASONING. AND THE GROUND NO. 5 IS IN RELATION TO EXCLUSION OF COMPARABLES IF TNMM METHOD IS APPLIED. 2. FURTHER, THE LD. AR SUBMITTED THAT THE GROUND NO. 4 IS NOT DECIDED BY THE HONBLE TRIBUNAL AND NEED TO BE ADJUDICATED AND THERE IS NO FINDING ON THIS GROUND OF APPEAL. CONTRA THE LD. DR SUPPORTED THE ORDER OF THE HONBLE TRIBUNAL. 4. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. PRIMA FACIE, THE HONBLE TRIBUNAL HAS DEALT ON THE LD.AR SUBMISSIONS AT PAGE 10 PARA 11 OF THE ORDER AS UNDER : 11. THE LD. AR OF THE ASSESSEE FINALLY SUBMITS THAT IF FOUR COMPARABLE COMPANIES ARE EXCLUDED AND EXCLUSIVE OF COMPUCOM SOFTWARE LTD. (SEGMENTAL) IS UPHELD BY TRIBUNAL, THE OTHER GROUNDS OF APPEAL RAISED BY ASSESSEE WOULD BECOME INFRUCTUOUS. WE FIND AS PER THE FINDINGS OF THE HONBLE TRIBUNAL AT PAGE 8 PARA 8 AT THE OUTSET OF HEARING, THE LD.AR OF THE ASSESSEE SUBMITS THAT HE IS PRESSING XORIANT SOLUTIONS PVT. LTD. MA NO. 87/M/2021 3 ONLY GROUND NO 4 & 5AND NOT PRESSING ANY OTHER GROUND MAY BE DISMISSED AS NOT PRESSED.-------------------------------------BECOME INFRUCTUOUS. 4.1 FURTHER, WE FIND AFTER HEARING THE SUBMISSIONS OF THE LD.AR AT PARA 9 ON EXCLUSION OF COMPARABLES IF TNMM APPLIED AS PER GROUND OF APPEAL NO 5 AND AT PARA 11 THE LD.AR HAS MADE ALTERNATE SUBMISSIONS IN RELATION TO GROUND OF APPEAL NO 4 ON REJECTION OF CPM METHOD AND ADOPTING TNMM METHOD. THE HONBLE TRIBUNAL CONSIDERING THE SUBMISSIONS OF LD.AR ON EXCLUSION OF COMPARABLES AND ADOPTING TNMM METHOD HAS MADE OBSERVATIONS AT PAGE 10 PARA 11 AS ( REFERED IN THE ABOVE DISCUSSIONS). FINALLY THE HONBLE ITAT AT PAGE 13 PARA 19 HAS DIRECTED THE ASSESSING OFFICER TO EXCLUDE FOUR COMPARABLES AND RECOMPUTE THE ALP AFRESH AND THE GROUND OF APPEAL NO 4 & 5 ARE ALLOWED. 5. WE ARE OF THE OPINION THAT THE HONBLE ITAT HAS MADE CLEAR OBSERVATIONS AT PARA 11 DULY CONSIDERING THE SUBMISSIONS/ ARGUMENTS OF THE LD.AR. FURTHER THE LD.AR ACCEPTS FOR EXCLUSION OF FOUR COMPARABLE IF TNMM METHOD IS APPLIED AND THE ASSESSEE DOES NOT HAVE ANY FURTHER GRIEVANCES. WE ARE OF SUBSTANTIVE VIEW THAT THE SUBMISSIONS OF LD.AR ARE NOT REALISTIC AND CANNOT BE ACCEPTED. ACCORDINGLY WE DO NOT FIND ANY MERITS IN THE MISCELLANEOUS APPLICATION FILED BY THE ASSESSEE . XORIANT SOLUTIONS PVT. LTD. MA NO. 87/M/2021 4 6. IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE ASSESSEE IS DISMISSED. COURT ORDER PRONOUNCED IN THE OPEN ON 14/07/2021. SD/- SD/- ( SHAMIM YAHYA ) ( PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI; DATED: 14/07/2021. RAHUL SHARMA, SR. P.S. COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A) - 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// (DY./ASSTT. REGISTRAR) ITAT, MUMBAI