https://www.taxtmi.com/caselaws?id=313900 The ITAT Bangalore ruled on transfer pricing adjustments regarding comparable company selection and notional interest on outstanding receivables. The tribunal directed the AO/TPO to exclude several companies from comparables list based on turnover disparities, functional differences, and diversified business activities. Companies like Tata Elxi Ltd, Persistent Systems Ltd, and Infobeans Technologies Ltd were excluded due to functionality mismatches or high turnover differences. Several matters including Cybage Software Ltd and Sagar Soft India Ltd were remitted back for fresh consideration. The tribunal also set aside the issue of notional interest on outstanding receivables to AO/TPO for determination whether such receivables constitute international transactions, following precedents from MetricStream Infotech and Kusum Healthcare cases. en-us Fri, 29 Jul 2022 00:00:00 +0530 Tue, 07 May 2024 23:06:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313900 The ITAT Bangalore ruled on transfer pricing adjustments regarding comparable company selection and notional interest on outstanding receivables. The tribunal directed the AO/TPO to exclude several companies from comparables list based on turnover disparities, functional differences, and diversified business activities. Companies like Tata Elxi Ltd, Persistent Systems Ltd, and Infobeans Technologies Ltd were excluded due to functionality mismatches or high turnover differences. Several matters including Cybage Software Ltd and Sagar Soft India Ltd were remitted back for fresh consideration. The tribunal also set aside the issue of notional interest on outstanding receivables to AO/TPO for determination whether such receivables constitute international transactions, following precedents from MetricStream Infotech and Kusum Healthcare cases. Case-Laws Income Tax Fri, 29 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313900