https://www.taxtmi.com/caselaws?id=306689 The ITAT Bangalore held that companies with turnover exceeding Rs. 200 crores must be excluded as comparables for software development services, excluding several large firms from the list. Certain companies were remanded to the AO/TPO for fresh examination of financial data and comparability, including Minvesta Infotech Ltd., Sagar Soft (India) Ltd., and Evoke Technologies Pvt. Ltd. For IT enable services, data from two of the three preceding years may be used if current year data is unavailable. Interest on delayed receivables was treated as a separate international transaction, with the arm's length interest rate set at LIBOR plus 2%. The disallowance of deduction under section 80G for CSR donations was remitted to the AO for verification and appropriate allowance based on eligibility. The assessee was directed to provide relevant details and cooperate with the proceedings. en-us Mon, 28 Nov 2022 00:00:00 +0530 Wed, 13 Aug 2025 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306689 The ITAT Bangalore held that companies with turnover exceeding Rs. 200 crores must be excluded as comparables for software development services, excluding several large firms from the list. Certain companies were remanded to the AO/TPO for fresh examination of financial data and comparability, including Minvesta Infotech Ltd., Sagar Soft (India) Ltd., and Evoke Technologies Pvt. Ltd. For IT enable services, data from two of the three preceding years may be used if current year data is unavailable. Interest on delayed receivables was treated as a separate international transaction, with the arm's length interest rate set at LIBOR plus 2%. The disallowance of deduction under section 80G for CSR donations was remitted to the AO for verification and appropriate allowance based on eligibility. The assessee was directed to provide relevant details and cooperate with the proceedings. Case-Laws Income Tax Mon, 28 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306689