Authority: High Court of Karnataka, Bengaluru
Order Date: 14 August 2018
Case Overview
- Parties: M/S Swiss Re Global Business Solutions India Private Limited (formerly Swiss Re Shared Services (India) Private Limited), located at Vaswanicentrepolis, 2nd to 6th Floor, No.21, Langford Road, Bangalore – 560027, acting as Cross Objector (Assessee), represented by advocates Sri Nageswara Rao and Sri Mallaharao; and the Principal Commissioner of Income Tax (Central) and Deputy Commissioner of Income Tax, Circle 6(1)(2), represented by Sri K.V. Aravind, as Respondents (Revenue).
- Case Numbers: I.T.A. CROB No.1/2018 in I.T.A. No.884/2017; arising from an order dated 13 April 2017 passed in IT(TPA) Nos. 2315/BANG/2016 for Assessment Year 2012‑13.
- Relief Sought: (i) Dismissal of the revenue’s appeal and a favorable ruling on a substantial question of law for the appellant; (ii) alternatively, admission of the cross objection and exclusion of companies as comparables; (iii) any further orders in favor of the appellant.
Final Outcome
- The Court, after hearing counsel for both sides, held that the cross objection was not pressed on merits and dismissed it. No further relief was granted to the cross objector.
Topics: Tax Litigation, Corporate Tax