https://www.taxtmi.com/caselaws?id=350686 The Tribunal upheld the CIT(A)'s decision to allow the benefit of +/-5% in the computation of arm's length price under section 92C(2A) of the Income Tax Act, dismissing the Revenue's appeal. The Tribunal excluded certain companies from the set of comparables for benchmarking IT and ITES segments, including Exensys Software Solutions Ltd., Infosys Technologies Ltd., Thirdware Solutions Ltd., Vishal Information Technologies Ltd., Wipro BPO Solutions Ltd., and Mapple E-Solutions Ltd. The Tribunal did not condone the delay in filing the cross-objection but allowed the assessee to defend the CIT(A)'s order under Rule 27 of the Tribunal Rules. Additionally, the Tribunal confirmed the CIT(A)'s computation of deduction under section 10A, rejecting the Revenue's challenge. en-us Wed, 18 Oct 2017 00:00:00 +0530 Fri, 10 Nov 2017 09:22:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350686 The Tribunal upheld the CIT(A)'s decision to allow the benefit of +/-5% in the computation of arm's length price under section 92C(2A) of the Income Tax Act, dismissing the Revenue's appeal. The Tribunal excluded certain companies from the set of comparables for benchmarking IT and ITES segments, including Exensys Software Solutions Ltd., Infosys Technologies Ltd., Thirdware Solutions Ltd., Vishal Information Technologies Ltd., Wipro BPO Solutions Ltd., and Mapple E-Solutions Ltd. The Tribunal did not condone the delay in filing the cross-objection but allowed the assessee to defend the CIT(A)'s order under Rule 27 of the Tribunal Rules. Additionally, the Tribunal confirmed the CIT(A)'s computation of deduction under section 10A, rejecting the Revenue's challenge. Case-Laws Income Tax Wed, 18 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350686