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Documents citing Cit vs Agnity India Technologies Pvt Ltd on 10 July, 2013

Inteegrated Decisions And Systems , ... vs Assessee on 12 June, 2015

23. We have heard the rival contentions of both the parties and perused the material available on the record. The assessee raised objection before the TPO for considering the super normal profit company as comparable, which has been turndown by the TPO without assigning specific reason. The Hon'ble Delhi High Court held in the case of CIT Vs. Agnity India Technologies Pvt. Ltd. (supra) that comparison where super normal profit is shown by the company, it cannot be applied for ALP adjustment. The assessee had shown operating margin @ 13.17%, which is within +/- 5% variation of arithmetic mean i.e. 16.71% calculated on the basis of proper comparables. Therefore, we allow the assessee's appeal and no adjustment is required to be made in ALP during the year under consideration.
Income Tax Appellate Tribunal - Jaipur Cites 11 - Cited by 0 - Full Document

The Pr. Commissioner Of Income Tax, ... vs M/S Zte Telecom India Pvt. Ltd on 19 March, 2019

8. Referring to the judgment of the Apex Court in CIT v. Agnity India Technologies Pvt. Ltd. 2013 SCC Online Del 2521, relied upon by 6 of 7 ::: Downloaded on - 12-05-2019 03:01:52 ::: ITA-388-2018 -7- the learned counsel for the revenue, in view of the factual matrix noticed hereinbefore, suffice it to observe that the said pronouncement being based on its own facts does not advance the case of the revenue.
Punjab-Haryana High Court Cites 4 - Cited by 0 - A K Mittal - Full Document

Utstarcom Inc. (India Branch), Gurgaon vs Ddit, New Delhi on 23 December, 2016

15. When we examine the profile of the assessee company vis-à- vis Infosys Technologies Limited in the light of the judgment in CIT vs. Agnity India Technologies Pvt. Ltd. (supra), there is no comparability for benchmarking the international transactions for the reasons inter alia that Infosys Technologies Limited is a giant risk taking company whereas, on the other hand, the assessee is a captive unit of its parent company and prone to minimum/ limited risk; that the Infosys Technologies Limited is having huge significant intangibles and having huge assets leading to the exorbitant turnover; that it is not in dispute that functional profile of assessee company and CIT vs. Agnity India Technologies Pvt. Ltd. is similar; that moreover, in the SDS segment, numerous companies are available for comparability. So, in the given circumstances, we are of the considered view that Infosys 15 ITA Nos.5848/Del./2011 Technologies Limited is not a valid comparable in this case, hence ordered to be excluded.
Income Tax Appellate Tribunal - Delhi Cites 19 - Cited by 2 - Full Document

St- Ericsson India Pvt. Ltd., New Delhi vs Dcit, New Delhi on 3 July, 2018

In view of what has been discussed above and following the decision rendered by the Hon'ble Delhi High Court in case of CIT vs. Agnity India Technologies Pvt. Ltd. (supra), we are of the considered view that taxpayer is a captive service provider/slave of Globe ST Ericsson, which does not have its own branch cannot be a valid comparable. Infosys was ordered to be excluded in taxpayer's own case for AY 2009-10. However, it is brought to our notice that the Revenue has went in appeal against the order of the Tribunal passed in taxpayer's own case for AY 2009-10 (supra) in which question of law has been framed.
Income Tax Appellate Tribunal - Delhi Cites 25 - Cited by 10 - Full Document

M/S.Microobjects P. Ltd, Cochin vs The Acit, Cochin on 5 October, 2017

6.1 Similarly the Hon'ble Delhi High Court in the case of CIT vs. Agnity india Technologies Pvt. Ltd. reported in 262 CTR (Del) 291 had held that large companies like Infosys Technologies Ltd. where the turnover is very high cannot be compared to that of a small company which are essentially captive unit of the parent company. Similar view was adopted in the following orders of the Tribunal:
Income Tax Appellate Tribunal - Panji Cites 13 - Cited by 0 - Full Document

Cadence Design Systems (India) Pvt. ... vs Acit, New Delhi on 2 April, 2018

On a reading of the order of the Tribunal in B C Management case (supra), it is clear that the Tribunal did not find that TCS e-Serve is functionally dissimilar to the B C Management services P Ltd. (supra). In spite of the same, the Tribunal recorded that the employee cost base at more than 64 times and the turnover at more than 67 times as compared to the assessee therein suggests that the assets employed by the TCS e-serves along with huge intangibles in the form of brand value impacted the PLI and vitiated the comparability under FAR analysis. The ITAT observed that though there is a close functional similarity between that entity and the assessee, however, there is a close connection between TCS E-serve and TATA Consultancy Service Ltd. which was high brand value; that distinguished 48 it and marked it out for exclusion. The ITAT recorded that the brand value associated with TCS Consultancy reflected impacted TCS E-serve profitability in a very positive manner. This inference too in the opinion of Court cannot be termed as unreasonable. The rationale for exclusion is, therefore, upheld.
Income Tax Appellate Tribunal - Delhi Cites 11 - Cited by 15 - Full Document

Agilent Technologies (International) ... vs Dcit, Gurgaon on 12 February, 2018

7.3 We have heard the rival submissions and perused the relevant finding given in the impugned order as well as material referred to before us. First of all, Infosys Technologies Limited is a giant enterprise with turnover of more than Rs.20,264 crores. Its expenditure on R&D was Rs. 267 crores and it has huge brand value and significant intangible assets, which have been valued at approximately Rs.1,34,478 crores. If these assets are to be compared with those of the assessee, it can be seen that it has 'nil' expenditure on R&D and no significant intangible asset. On this ground alone, various Benches of the Tribunal have held that Infosys Technologies Limited cannot be compared with small software companies, who are into contract software development services. A company like Infosys with mega operations and having significant assets and brand value and full-fledged risk taking entrepreneur developing and selling proprietary products cannot be held to be comparable with the captive service and I.T.A. No.1620/Del/2015, 477 & 6429/Del/2016 35 contract software development companies as the comparability analysis fails on all the factors of FAR. The Hon'ble Delhi High Court in the case of CIT vs. Agnity India technologies Pvt. Ltd. (supra) made a comparative chart while dealing with similar comparative analysis, which for sake of ready reference is reproduced hereunder:-
Income Tax Appellate Tribunal - Delhi Cites 10 - Cited by 15 - Full Document
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