Important Transfer Pricing Controversy Referred To Special Bench

Vide order dated 06.01.2014 the Special Bench in the case of Maersk Global Service Centres (India) Pvt. Ltd has directed that the questions referred to it be reframed as follows:

(1) Whether for the purpose of determining arm’s length price of international transactions of the assessee-company, providing back office support services to their overseas associated enterprises, companies performing KPO functions should be considered as comparable?

(2) Whether, in the facts of the assessee’s case, companies earning abnormally high profit margin should be included in the list of comparable cases for the purpose of determining the arm’s length price of an international transactions?

The matter is placed for hearing on 8.1.2014. It has also been directed that assessees desiring to intervene in the matter may contact the Registry of the ITAT, Mumbai.