https://www.taxtmi.com/caselaws?id=310606 ITAT Kolkata directed exclusion of eight comparable companies from transfer pricing analysis due to functional dissimilarities, excessive related party transactions, or failure to meet employee cost filters. Companies excluded included Lucid Software Ltd, Sagarsoft India Ltd, Prelude Sys India Ltd, E-infochips Bangalore Ltd, Acropetal Technologies Ltd, Axis IT Ltd, Zylog Systems India Ltd, and 8K Miles Software Services Ltd. However, Akshay Software Technologies Ltd, Maveric Systems Ltd, and Thinksoft Global Services Ltd were directed to be included as comparable companies. The tribunal also directed implementation of working capital adjustment as per DRP directions. en-us Fri, 08 Nov 2019 00:00:00 +0530 Thu, 02 Nov 2023 19:16:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310606 ITAT Kolkata directed exclusion of eight comparable companies from transfer pricing analysis due to functional dissimilarities, excessive related party transactions, or failure to meet employee cost filters. Companies excluded included Lucid Software Ltd, Sagarsoft India Ltd, Prelude Sys India Ltd, E-infochips Bangalore Ltd, Acropetal Technologies Ltd, Axis IT Ltd, Zylog Systems India Ltd, and 8K Miles Software Services Ltd. However, Akshay Software Technologies Ltd, Maveric Systems Ltd, and Thinksoft Global Services Ltd were directed to be included as comparable companies. The tribunal also directed implementation of working capital adjustment as per DRP directions. Case-Laws Income Tax Fri, 08 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310606