Pr Commissioner Of Income Tax -1 v. Alcatel Lucent India Ltd

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI47 + ITA 515/2017 PR COMMISSIONER OF INCOME TAX -1 ..... Appellant Through: Mr Rahul Kaushik, Senior Standing Counsel versus ALCATEL LUCENT INDIA LTD. ..... Respondent Through: Mr Himanshu Sinha and Mr Manan Jain, Advocates CORAM:JUSTICE S.MURALIDHAR JUSTICE PRATHIBA M. SINGH O R D E R % 18.07.2017 1.This is an appeal by the Revenue against the order dated 24[th] August, 2016 passed by the Income Tax Appellate Tribunal (‘ITAT’) in ITA No. 6856/Del/2015 for the Assessment Year (‘AY’) 2011-2012. 2.The question urged by the Revenue is whether the ITAT erred in directing the TPO to exclude M/s. E-Infochips Ltd., M/s. Larsen & Toubro Ltd., M/s. Persistent Systems Ltd., M/s. Infosys Limited, Saxo India Ltd. and Zylog Ltd. from the list of comparables for the purposes of determination of the arms length price of the international transaction on account of functional dissimilarity when compared with the Assessee? 3. Having heard the learned counsel for the parties, the Court find that the ITAT has assigned clear and cogent reasons that the above entities should be excluded from the list of comparables. The findings are factual and based on proper analysis and does not give rise to any substantial question of law. 4. The appeal is accordingly dismissed, but in the circumstances, no orders as to costs. S.MURALIDHAR, J JULY 18, 2017 rd PRATHIBA M. SINGH, J