https://www.taxtmi.com/caselaws?id=412154 The Tribunal partly allowed the appeal, directing exclusion of certain companies from the list of comparables and granting working capital adjustment on an actual basis. Companies excluded include ICRA Techno Analytics Ltd., Infosys Limited, KALS Information Systems Ltd., Larsen & Toubro Infotech Limited, Persistent Systems Limited, and Tata Elxsi Limited. The working capital adjustment was not restricted by an upper limit, as Rule 10B of the I.T. Rules does not authorize such limitation. en-us Wed, 01 Sep 2021 00:00:00 +0530 Sat, 11 Sep 2021 09:56:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412154 The Tribunal partly allowed the appeal, directing exclusion of certain companies from the list of comparables and granting working capital adjustment on an actual basis. Companies excluded include ICRA Techno Analytics Ltd., Infosys Limited, KALS Information Systems Ltd., Larsen & Toubro Infotech Limited, Persistent Systems Limited, and Tata Elxsi Limited. The working capital adjustment was not restricted by an upper limit, as Rule 10B of the I.T. Rules does not authorize such limitation. Case-Laws Income Tax Wed, 01 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412154