Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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ITAT partially allowed the assessee's appeal regarding transfer pricing adjustments. The Tribunal excluded seven companies (Tata Elexis Limited, E-Infochips Ltd, Larsen and Tourbo Infotech Limited, Infosys Ltd, Persistent Systems Limited, Infobeans Technologies Limited, and Thirdware Solutions Limited) from comparables following precedent, while retaining R S Software due to functional similarity. Mindtree Limited was excluded due to diverse service offerings and lack of segmental data. The Tribunal directed inclusion of Akshya Software and Sagar Soft as comparables but rejected Sankhya Infotech due to high R&D expenditure. Working capital adjustment was granted using average opening-closing balances. For interest on trade receivables, separate benchmarking was mandated at LIBOR plus 200 basis points with 60-day credit period. MAT credit was allowed subject to verification.
ITAT partially allowed the assessee's appeal regarding transfer pricing adjustments. The Tribunal excluded seven companies (Tata Elexis Limited, E-Infochips Ltd, Larsen and Tourbo Infotech Limited, Infosys Ltd, Persistent Systems Limited, Infobeans Technologies Limited, and Thirdware Solutions Limited) from comparables following precedent, while retaining R S Software due to functional similarity. Mindtree Limited was excluded due to diverse service offerings and lack of segmental data. The Tribunal directed inclusion of Akshya Software and Sagar Soft as comparables but rejected Sankhya Infotech due to high R&D expenditure. Working capital adjustment was granted using average opening-closing balances. For interest on trade receivables, separate benchmarking was mandated at LIBOR plus 200 basis points with 60-day credit period. MAT credit was allowed subject to verification.
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