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We therefore do not find force in the contention of the assessee and accordingly we approve the inclusion of this comparable in the list of comparables.

33. Bodhtree Consulting Ltd. : With regard to this company, the ld.

counsel for the assessee has contended that this company's function is different, therefore it should be excluded from the list of comparables. It was further contended that this company provides open end-to-end web solutions, software consultancy, design and development of solutions which cannot be compared to a BPO company. It was also contended that during the year there were peculiar circumstances where the company hived off certain business expenses without hiving off the revenue stream.

"(ix) Bodhtree Consulting Ltd.:- The OP/TC of this company is 29.58%. The ld. Counsel for the assessee stated that this company has extraordinary profit due to hiving off of e-

paper business and web based assessment services to separate companies. The ld. Counsel for the assessee further stated that this company is finally not comparable as the company is in the software development. Further, this company has no segmental reporting. On perusal of the accounts of this company, we find that the company has earned extraordinary profit during the year due to hiving off of e-paper business and web based assessment services to separate company. It appears that the cost has been transfer red to new companies while income is retained by this company. We further find that this company is engaged in single segment hence it is functionally different. As the company has hived off its business, it is a case of de-merger. In our considered opinion, this issue needs to be considered by the A.O./TPO. We accordingly restore this company back to the file of the A.O./TPO with a direction to verify the contentions of the assessee that the company is in ITES IT(TP)A No.1285/Bang/2011 and whether segmental data are available or not and decide afresh whether this company needs to be considered in the final list of comparables."