https://www.taxtmi.com/caselaws?id=300216 The ITAT Bangalore held that Vishal Information Technologies is not a suitable comparable for benchmarking international transactions with the assessee and directed its exclusion. Saffron Global Ltd was upheld as comparable despite merger proposals and accumulated losses, as these factors did not affect current year profitability. The Tribunal clarified that companies with related party transactions exceeding 15% cannot be considered comparables under Section 92F(ii), rejecting the CIT(A)'s view that only companies with no related party transactions qualify. Consequently, Allsec Technologies, Transworks Information, and Ace Software were accepted as comparables, while Wipro BPO was excluded due to substantial intangibles and goodwill. en-us Wed, 16 Mar 2016 00:00:00 +0530 Tue, 29 Jul 2025 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300216 The ITAT Bangalore held that Vishal Information Technologies is not a suitable comparable for benchmarking international transactions with the assessee and directed its exclusion. Saffron Global Ltd was upheld as comparable despite merger proposals and accumulated losses, as these factors did not affect current year profitability. The Tribunal clarified that companies with related party transactions exceeding 15% cannot be considered comparables under Section 92F(ii), rejecting the CIT(A)'s view that only companies with no related party transactions qualify. Consequently, Allsec Technologies, Transworks Information, and Ace Software were accepted as comparables, while Wipro BPO was excluded due to substantial intangibles and goodwill. Case-Laws Income Tax Wed, 16 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300216