[formerly known as Sungard of Incometax, Solutions(India) Pvt. Ltd.], Circle 12(3), Upper Ground Floor to 7th Floor, Bangalore. West End Centre One, Survey No.169/1, Sector II, Aundh, Pune 411 007. PAN: AABCE 7476K APPELLANT RESPONDENT IT(TP)A No. 1106/Bang/2011 Assessment Year : 200506 & 200506 The Deputy Commissioner Vs. M/S. FIS Solutions (India) Pvt. Ltd., of Incometax, [formerly known as Sungard Circle 12(3), Solutions(India) Pvt. Ltd.], Bangalore. Pune 411 007. PAN: AABCE 7476K APPELLANT RESPONDENT Assessee by : Shri K.R. Vasudevan, Advocate Revenue by : Shri Priyadarshi Misra, Jt.CIT(DR)(ITAT), Bengaluru. Date of hearing : 25.02.2020 Date of Pronouncement : 28.02.2020 IT(TP)A Nos. 1041 & 1379 & 1106/Bang/2011 Page 2 of 37 ORDER Per N.V. Vasudevan, Vice President IT(TP)A Nos. 1041 & 1106/Bang/2011 are cross appeals directed against the order dated 13.09.2011 of CIT(A) and an appeal in IT(TP)A No. 1379/B/2011 is by the assessee against the order dated 27.10.2011 of CIT(A) passed u/s. 154 of the IT Act for the assessment year 200506. These appeals were originally heard on 20.2.2017 and a common order dated 28.4.2017 was passed by this Tribunal. The Assessee filed M.P.No.279 to 281/Bang/2017 pointing out certain errors in the order of the Tribunal inasmuch as the name of the Assessee had changed from M/S.Sungard Solutions (India)Pvt.Ltd. to M/S.FIS Solutions (India) Private Limited consequent to global acquisition and this aspect was not intimated to the Tribunal. Another mistake that was pointed out was that the Assessee had sought exclusion of two comparable companies chosen by the Transfer Pricing Officer(TPO) viz., M/S.Bodhtree Consulting Ltd., and M/S.Thirdware Solutions Ltd. The Tribunal omitted to adjudicate on the exclusion of the aforesaid two comparable companies. The Tribunal by its order dated 1.1.2019 recalled all the orders with a direction to the parties to file fresh Form No.36 in the name of the new entity and decide the appeals afresh. This is how these three appeals are listed for hearing before us. The parties submitted before us that the arguments advanced would be the same as was submitted when the appeal was originally heard and decided and that only on the exclusion of the two companies M/S.Bodhtree Consulting Ltd., and Thirdware Solutions Ltd., the arguments would be advanced. Accordingly, we proceed to decide these appeals on all aspects of the case as was done by the Tribunal in its order dated 28.4.2017 and further take for consideration and decision the case of the Assessee for exclusion of Bodhtree Consulting Ltd., and Thirdware Solutions Ltd. IT(TP)A Nos. 1041 & 1379 & 1106/Bang/2011 Page 3 of 37 Cross appeals IT(TP)A Nos. 1041 & 1106/Bang/2011 2. The assessee is a subsidiary of Exeter Educational Management Systems Inc. USA and provides software development services for the administration of higher education institutions worldwide. The Assessee is engaged in the business of providing software development (technical support) services to its overseas Associated Enterprises ('AE' for short). It is not in dispute that the transaction of rendering of software development services by the Assessee to its AE was an international transaction and in view of the provisions of sec. 92 of the Income Tax Act, 1961 (Act), income arising from such international transaction has to be determined having regard to Arm's Length Price (ALP). As regards the international transaction of provision of software development (SWD) services to its AEs, the Assessee received consideration of Rs.11,80,97,508/ for rendering Software Development Services from its AE. In support of its claim that the price charged by it in th