https://www.taxtmi.com/caselaws?id=446336 ITAT Mumbai ruled on transfer pricing comparable selection for software support and development services. The tribunal excluded Infosys Technologies and Wipro Limited as functionally different, and Persistent Systems Limited due to licensing revenues and unavailable segmental results. Three comparables (iGate Global Solutions, Tata Elxsi, LGS Global) were remanded to AO for reconsideration. Five companies with high turnover were remanded for appellant to establish exclusion grounds. Kals Information Technology, Bodhtree Consulting, Acropetal Technologies, and Softsol India were excluded for functional dissimilarity or lack of segmental data. The matter was remanded to AO for final comparable determination and working capital adjustment consideration. en-us Wed, 20 Sep 2023 00:00:00 +0530 Thu, 30 Nov 2023 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446336 ITAT Mumbai ruled on transfer pricing comparable selection for software support and development services. The tribunal excluded Infosys Technologies and Wipro Limited as functionally different, and Persistent Systems Limited due to licensing revenues and unavailable segmental results. Three comparables (iGate Global Solutions, Tata Elxsi, LGS Global) were remanded to AO for reconsideration. Five companies with high turnover were remanded for appellant to establish exclusion grounds. Kals Information Technology, Bodhtree Consulting, Acropetal Technologies, and Softsol India were excluded for functional dissimilarity or lack of segmental data. The matter was remanded to AO for final comparable determination and working capital adjustment consideration. Case-Laws Income Tax Wed, 20 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446336