https://www.taxtmi.com/caselaws?id=297045 The Tribunal upheld the CIT(A)'s decisions to exclude ICRA Online Ltd. and iGate Global Solutions Ltd. from the list of comparables in the ITES segment. Additionally, the negative working capital adjustment was disallowed based on the assessee not bearing any working capital risk. The Tribunal emphasized the need for case-specific working capital adjustments and concluded that in this case, a negative working capital adjustment was not warranted. The revenue's appeal was dismissed, affirming the decisions made by the CIT(A). en-us Tue, 08 Dec 2020 00:00:00 +0530 Mon, 16 Aug 2021 21:16:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297045 The Tribunal upheld the CIT(A)'s decisions to exclude ICRA Online Ltd. and iGate Global Solutions Ltd. from the list of comparables in the ITES segment. Additionally, the negative working capital adjustment was disallowed based on the assessee not bearing any working capital risk. The Tribunal emphasized the need for case-specific working capital adjustments and concluded that in this case, a negative working capital adjustment was not warranted. The revenue's appeal was dismissed, affirming the decisions made by the CIT(A). Case-Laws Income Tax Tue, 08 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297045