Purposive interpretation of residential house exemption: unregistered purchase agreement alone does not defeat relief, but investment must be verified...
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Turnover is a relevant comparability filter in transfer pricing for software development services, and applying a ten-times range on both ends for selecting comparables was upheld. Several entities were excluded as functionally dissimilar because they were software product or diversified companies, or because earlier coordinate bench views supported exclusion and no contrary material was shown. Evoke Technologies Ltd. was retained as a comparable since audited records enabled identification of Indian operating revenue and computation of the profit level indicator after excluding overseas branch revenue. The Tribunal also held that benchmarking does not fail merely because only two comparables remain, and dismissed the Revenue's appeal.
Turnover is a relevant comparability filter in transfer pricing for software development services, and applying a ten-times range on both ends for selecting comparables was upheld. Several entities were excluded as functionally dissimilar because they were software product or diversified companies, or because earlier coordinate bench views supported exclusion and no contrary material was shown. Evoke Technologies Ltd. was retained as a comparable since audited records enabled identification of Indian operating revenue and computation of the profit level indicator after excluding overseas branch revenue. The Tribunal also held that benchmarking does not fail merely because only two comparables remain, and dismissed the Revenue's appeal.
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