https://www.taxtmi.com/caselaws?id=310623 The ITAT Indore remanded multiple transfer pricing issues to the AO/TPO for fresh adjudication. The tribunal directed exclusion of seven comparables (E-Infochips, E-zest Solutions, iGate Global Solutions, Lucid Software, Persistent Systems, Sankhya Infotech, and Wipro Technology Services) due to functional dissimilarity, lack of segmental data, or abnormal margins. Three comparables (Maveric Systems, Thinksoft Global Services, R Systems International) were directed for verification and potential inclusion. The depreciation adjustment claim raised as additional ground before DRP was remanded for proper verification. Foreign exchange gain treatment and working capital adjustments required fresh examination. The section 14A disallowance was also remanded for verification of expenditure related to exempt income. All grounds were partly allowed for statistical purposes. en-us Mon, 10 Apr 2023 00:00:00 +0530 Thu, 02 Nov 2023 19:17:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310623 The ITAT Indore remanded multiple transfer pricing issues to the AO/TPO for fresh adjudication. The tribunal directed exclusion of seven comparables (E-Infochips, E-zest Solutions, iGate Global Solutions, Lucid Software, Persistent Systems, Sankhya Infotech, and Wipro Technology Services) due to functional dissimilarity, lack of segmental data, or abnormal margins. Three comparables (Maveric Systems, Thinksoft Global Services, R Systems International) were directed for verification and potential inclusion. The depreciation adjustment claim raised as additional ground before DRP was remanded for proper verification. Foreign exchange gain treatment and working capital adjustments required fresh examination. The section 14A disallowance was also remanded for verification of expenditure related to exempt income. All grounds were partly allowed for statistical purposes. Case-Laws Income Tax Mon, 10 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310623