https://www.taxtmi.com/caselaws?id=754040 ITAT Hyderabad upheld TPO/DRP's inclusion of L T Infotech and Persistent Systems Ltd as comparables for transfer pricing adjustment on software development services, rejecting assessee's exclusion arguments as inconsistent with their own TP study selections. The tribunal set aside the interest computation on outstanding receivables, directing TPO to reconsider using appropriate currency-based rates rather than SBI PLR. Regarding employee PF contributions, ITAT confirmed disallowance under Section 36(1)(va) following Supreme Court precedent in Checkmate Services, upholding that belated remittance is not deductible even if deposited before return filing deadline. en-us Wed, 12 Jun 2024 00:00:00 +0530 Fri, 14 Jun 2024 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754040 ITAT Hyderabad upheld TPO/DRP's inclusion of L T Infotech and Persistent Systems Ltd as comparables for transfer pricing adjustment on software development services, rejecting assessee's exclusion arguments as inconsistent with their own TP study selections. The tribunal set aside the interest computation on outstanding receivables, directing TPO to reconsider using appropriate currency-based rates rather than SBI PLR. Regarding employee PF contributions, ITAT confirmed disallowance under Section 36(1)(va) following Supreme Court precedent in Checkmate Services, upholding that belated remittance is not deductible even if deposited before return filing deadline. Case-Laws Income Tax Wed, 12 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754040