CIT Vs. GLOBAL VANTEDGE PVT. LTD

JUDGEMENT

(1.) These three appeals by the revenue relate to the assessment years 2003-04, 2004-05 and 2005-06. The appeals in respect of the assessment years 2003-04 and 2004-05 (ITA No.1828/2010 and 1829/2010) arise out of the Income Tax Appellate Tribunal's order dated 17.12.2009 passed in ITA Nos.1432 and 2321/Del/2009. The third appeal (ITA No.1254/2011) is in respect of the assessment year 2005-06 and arises out of the Tribunal's order dated 06.05.2011 passed in ITA No.116/Del/2011. The latter order passed by the Tribunal has merely followed the earlier order dated 17.12.2009.

(2.) The issue sought to be raised in the present appeals is with regard to the determination of the arms' length price. From the impugned orders and, in particular, the order dated 17.12.2009 we find that the Tribunal has examined this issue at length and has extensively quoted the decision of Commissioner of Income Tax (Appeals) on the said issue. After having done so and examining the order of the Commissioner of Income Tax (Appeals), the Tribunal confirmed the said finding for want of any cogent reasons on the part of the revenue to disturb the said findings. In fact, the exact language used by the Tribunal for confirming the findings of the CIT (Appeals) is as under: -

(3.) The learned counsel for the revenue contended that it was incumbent upon the Tribunal to have recorded its own findings rather than merely confirming the findings of the CIT (Appeals). However, the learned counsel for the respondent/ assessee drew our attention to the Supreme Court decision in the case of CIT v. K.V. Pilliah and Sons,1966 63 ITR 411, wherein, on a similar point having been raised, the Supreme Court observed as under: -