https://www.taxtmi.com/caselaws?id=396324 ITAT Bangalore held that comparables used for benchmarking software development services were functionally dissimilar, including differences in intangibles, segmental data, product development, R&D activity and abnormal margins, so they were excluded and the arm's length price was to be recomputed after hearing the assessee. It further held that income enhanced under a Mutual Agreement Procedure resolution was not hit by the proviso to section 92CA(4), because that bar applies only to adjustments made by the Assessing Officer under that provision. Deduction under section 10A was therefore allowable on the enhanced income realised under the treaty-based settlement. en-us Wed, 24 Jun 2020 00:00:00 +0530 Tue, 30 Jun 2020 12:56:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396324 ITAT Bangalore held that comparables used for benchmarking software development services were functionally dissimilar, including differences in intangibles, segmental data, product development, R&D activity and abnormal margins, so they were excluded and the arm's length price was to be recomputed after hearing the assessee. It further held that income enhanced under a Mutual Agreement Procedure resolution was not hit by the proviso to section 92CA(4), because that bar applies only to adjustments made by the Assessing Officer under that provision. Deduction under section 10A was therefore allowable on the enhanced income realised under the treaty-based settlement. Case-Laws Income Tax Wed, 24 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396324