https://www.taxtmi.com/caselaws?id=417580 The Tribunal directed the inclusion of India Tourism Development Corporation Ltd. and Hi Tech Laboratories as comparables for benchmarking international transactions due to functional similarity. Kestone Integrated Mktg. Services Pvt. Ltd. and HSCC (India) Ltd. were challenged for inclusion, with Axis Integrated Systems Ltd. being excluded for functional dissimilarity. The working capital adjustment computation discrepancies were noted, leading to a re-computation following ALP margins, resulting in a partial allowance of the assessee's appeal. The judgment aimed to ensure fairness and accuracy in the assessment process by emphasizing functional similarity and turnover considerations in selecting comparables and addressing working capital adjustments. en-us Wed, 19 Jan 2022 00:00:00 +0530 Thu, 27 Jan 2022 08:42:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417580 The Tribunal directed the inclusion of India Tourism Development Corporation Ltd. and Hi Tech Laboratories as comparables for benchmarking international transactions due to functional similarity. Kestone Integrated Mktg. Services Pvt. Ltd. and HSCC (India) Ltd. were challenged for inclusion, with Axis Integrated Systems Ltd. being excluded for functional dissimilarity. The working capital adjustment computation discrepancies were noted, leading to a re-computation following ALP margins, resulting in a partial allowance of the assessee's appeal. The judgment aimed to ensure fairness and accuracy in the assessment process by emphasizing functional similarity and turnover considerations in selecting comparables and addressing working capital adjustments. Case-Laws Income Tax Wed, 19 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417580