https://www.taxtmi.com/caselaws?id=754528 ITAT Hyderabad ruled on transfer pricing adjustments involving comparable company selection and trade receivables interest. The tribunal excluded high-turnover companies (Larsen Toubro Infotech, Tata Elxsi, Persistent Systems, Aspire Systems, Infosys) as non-comparable due to significant turnover disparity with assessee's Rs. 16.12 crores versus their Rs. 200+ crores. Infobeans Technologies and Thirdware Solution were retained as suitable comparables. Cigniti Technologies was excluded for failing export revenue filter. The matter regarding inclusion of six additional companies was remanded to AO/TPO for fresh consideration. Interest on trade receivables was held to be international transaction, with rate reduced from 7.5% to 6% SBI rate. Appeal partly allowed for statistical purposes. en-us Tue, 11 Jun 2024 00:00:00 +0530 Tue, 25 Jun 2024 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754528 ITAT Hyderabad ruled on transfer pricing adjustments involving comparable company selection and trade receivables interest. The tribunal excluded high-turnover companies (Larsen Toubro Infotech, Tata Elxsi, Persistent Systems, Aspire Systems, Infosys) as non-comparable due to significant turnover disparity with assessee's Rs. 16.12 crores versus their Rs. 200+ crores. Infobeans Technologies and Thirdware Solution were retained as suitable comparables. Cigniti Technologies was excluded for failing export revenue filter. The matter regarding inclusion of six additional companies was remanded to AO/TPO for fresh consideration. Interest on trade receivables was held to be international transaction, with rate reduced from 7.5% to 6% SBI rate. Appeal partly allowed for statistical purposes. Case-Laws Income Tax Tue, 11 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754528