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Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
ITAT held that Rule 10CA is only a computational mechanism and does not cure functional dissimilarity, scale differences or segmental deficiencies; it therefore directed exclusion of Nihilent Technologies, Tata Elxsi, Cybage Software, Infosys, Larsen & Toubro Infotech and Wipro from the comparables set. It also held that a different financial year by itself does not vitiate comparability where public-domain data can be suitably extrapolated, and directed inclusion of R Systems International on relevant-year data. The Tribunal allowed working capital adjustment based on opening and closing balances from annual reports, and held that any separate receivables adjustment must be tested after such adjustment; if still required, interest should be benchmarked at LIBOR plus 200 basis points with a 60-day credit period.
ITAT held that Rule 10CA is only a computational mechanism and does not cure functional dissimilarity, scale differences or segmental deficiencies; it therefore directed exclusion of Nihilent Technologies, Tata Elxsi, Cybage Software, Infosys, Larsen & Toubro Infotech and Wipro from the comparables set. It also held that a different financial year by itself does not vitiate comparability where public-domain data can be suitably extrapolated, and directed inclusion of R Systems International on relevant-year data. The Tribunal allowed working capital adjustment based on opening and closing balances from annual reports, and held that any separate receivables adjustment must be tested after such adjustment; if still required, interest should be benchmarked at LIBOR plus 200 basis points with a 60-day credit period.
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