https://www.taxtmi.com/caselaws?id=456080 The ITAT Bangalore upheld the deselection of comparables that were functionally dissimilar to the assessee, a contract service provider providing limited services exclusively to its associated enterprise. Companies with turnover exceeding Rs. 200 crores were also excluded. However, Aptus Software Labs Pvt. Ltd was retained as a comparable despite deriving revenue from both domestic and foreign sources, as its NIC code 6201 indicated information technology services similar to the assessee's activities. The tribunal allowed appropriate working capital adjustments in the transfer pricing analysis. en-us Thu, 31 Aug 2023 00:00:00 +0530 Tue, 25 Jun 2024 19:48:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456080 The ITAT Bangalore upheld the deselection of comparables that were functionally dissimilar to the assessee, a contract service provider providing limited services exclusively to its associated enterprise. Companies with turnover exceeding Rs. 200 crores were also excluded. However, Aptus Software Labs Pvt. Ltd was retained as a comparable despite deriving revenue from both domestic and foreign sources, as its NIC code 6201 indicated information technology services similar to the assessee's activities. The tribunal allowed appropriate working capital adjustments in the transfer pricing analysis. Case-Laws Income Tax Thu, 31 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456080