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Tribunal excludes TCS E-serve & Infosys BPO from comparables list in ITES The Tribunal directed the Assessing Officer/Transfer Pricing Officer to exclude TCS E-serve Ltd. and Infosys BPO Ltd. from the final list of comparables ...
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Tribunal excludes TCS E-serve & Infosys BPO from comparables list in ITES
The Tribunal directed the Assessing Officer/Transfer Pricing Officer to exclude TCS E-serve Ltd. and Infosys BPO Ltd. from the final list of comparables in the ITES segment due to functional differences and engagement in diversified business activities, following precedents and specific cases as references. The decision was based on factors such as brand value, premium pricing, and previous rulings, leading to the exclusion of these companies from the final list.
Issues: 1. Exclusion of comparables TCS E-serve Ltd. and Infosys BPO Ltd. in the ITES segment from the final list by the Tribunal.
Analysis: The Appellate Tribunal, in a judgment delivered by Judicial Member Smt. Beena Pillai, addressed a miscellaneous petition filed by the assessee seeking rectification in an order dated 01.11.2021. The Ld.AR contended that two comparables, TCS E-serve Ltd. and Infosys BPO Ltd., were inadvertently not adjudicated in the impugned order. The Tribunal acknowledged the oversight and noted that these comparables were excluded by the Coordinate Bench of the Tribunal under similar circumstances, citing specific cases as precedents. In the case of Infosys BPO Ltd., the Tribunal referred to a previous decision where it was excluded from the final list due to factors such as brand value and premium pricing, leading to a direction to exclude it. Similarly, in the case of TCS E-serve Ltd., the Tribunal relied on precedents and excluded it from the final list based on functional differences and engagement in diversified business activities, following the decision of a Coordinate Bench. Consequently, the Tribunal directed the Assessing Officer/Transfer Pricing Officer to exclude both TCS E-serve Ltd. and Infosys BPO Ltd. from the final list of comparables.
This detailed analysis of the judgment highlights the issues related to the exclusion of specific comparables in the ITES segment, providing a comprehensive understanding of the Tribunal's decision-making process and the legal reasoning behind the exclusion of TCS E-serve Ltd. and Infosys BPO Ltd.
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