https://www.taxtmi.com/caselaws?id=400446 The Tribunal rectified errors in its order regarding the determination of the arm's length price in international transactions of software development services. The Tribunal acknowledged and corrected the omission of excluding 4 comparable companies, deeming it a mistake apparent on the face of the record. Consequently, the Tribunal directed the Transfer Pricing Officer to exclude all 7 comparable companies listed, leading to the allowance of the miscellaneous petition by the assessee. The case underscores the significance of clarity and accuracy in determining arm's length prices for international transactions to uphold the integrity of Tribunal orders. en-us Wed, 09 Sep 2020 00:00:00 +0530 Sat, 07 Nov 2020 09:44:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400446 The Tribunal rectified errors in its order regarding the determination of the arm's length price in international transactions of software development services. The Tribunal acknowledged and corrected the omission of excluding 4 comparable companies, deeming it a mistake apparent on the face of the record. Consequently, the Tribunal directed the Transfer Pricing Officer to exclude all 7 comparable companies listed, leading to the allowance of the miscellaneous petition by the assessee. The case underscores the significance of clarity and accuracy in determining arm's length prices for international transactions to uphold the integrity of Tribunal orders. Case-Laws Income Tax Wed, 09 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400446