HIGH COURT OF JUDICATURE AT HYDERABAD FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA PRADESH PRESENT THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE M.S. RAMACHANDRA RAO I.T.T.A. NO.707 OF 2014 DATED:17.12.2014 Between:
Commissioner of Income Tax – II I.T. Towers, A.C. Guards Hyderabad … Appellant And M/s. IVY Comptech Limited 8-2-269/A/2/1 to 6, Sri Nilaya Cyber Plazo Road No.2, Banjara Hills Hyderabad … Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE M.S. RAMACHANDRA RAO I.T.T.A. NO.707 OF 2014 JUDGMENT: (per the Hon’ble The Chief Justice Sri Kalyan Jyoti Sengupta) This appeal is sought to be preferred and admitted against the judgment and order of the learned Tribunal dated 17.1.2014, in relation to assessment year 2005-2006, on the following suggested question of law:
“In the facts and circumstances of the case, whether the Hon’ble Tribunal (ITAT) is correct in law in rejecting the comparable companies adopted by the Transfer Pricing Officer (TPO) which was selected by the Tax Payer itself and remitting the case to the Assessing Officer for fresh consideration in terms of its directions to determine the subject issue?”
We have heard Sri B. Narasimha Sarma, learned counsel for the appellant, and gone through the impugned judgment and order of the learned Tribunal. The learned Tribunal, in relation to the aforesaid question, has rendered a fact finding which instances are acceptable or non-acceptable. We do not think that we should substitute our appreciation of fact in the absence of any allegation of perversity. We have seen the judgment and order and the findings of the learned Tribunal and it does not appear to us that the same are not based upon without any material. We do not find any element law to decide in this appeal.
The appeal is accordingly dismissed. There will be no order as to costs.
K.J. SENGUPTA, CJ M.S. RAMACHANDRA RAO, J 17.12.2014 bnr