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of <h1>ITAT excludes four comparables in software development transfer pricing case, allows Rs. 9 crore ALP adjustment appeal</h1> <h3>Optiva India Technologies Pvt. Ltd. Versus The DCIT, Circle-1, Pune</h3> Optiva India Technologies Pvt. Ltd. Versus The DCIT, Circle-1, Pune - TMI The Appellate Tribunal (ITAT Pune) adjudicated an appeal for A.Y. 2017-18 against the National Faceless Assessment Centre's order under section 92CA(3) of the Income Tax Act concerning ALP adjustment of Rs. 9,04,85,400 in software development and support services. The assessee contested inclusion of four comparables: M/s. E-Infochips Ltd., Cybage Software Pvt. Ltd., Exilant Technologies Pvt. Ltd., and E-Infochips Ltd.The Tribunal, emphasizing judicial consistency, excluded M/s. E-Infochips Ltd. as a valid comparable due to its amalgamation under a Gujarat High Court-approved scheme effective 01.04.2015, aligning with a coordinate bench's prior ruling (ITA No. 194/PUN/2021 for AY 2016-17). Further, the remaining three companies were excluded because they were engaged in activities other than software services, involved property development, or lacked financial data, as per earlier coordinate bench findings.The Tribunal held: 'We thus adopt judicial consistency to exclude M/s. E-Infochips from the array of comparables' and directed recalculation by the TPO accordingly. The appeal was allowed to this limited extent.
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