https://www.taxtmi.com/caselaws?id=755174 The ITAT Bangalore upheld the jurisdictional AO's validity to pass the assessment order despite technical glitches preventing proper transfer reflection on the ITBA portal, noting CBDT approval was obtained. The Tribunal directed exclusion of six comparables due to turnover exceeding Rs. 200 crores against assessee's Rs. 14.53 crores, and removal of Manipal Digital Systems for lacking segmental details. Working capital adjustment was allowed following Huawei Technologies precedent. The AO was directed to set off brought forward losses against final TP adjustments in compliance with statutory provisions. en-us Fri, 22 Dec 2023 00:00:00 +0530 Sun, 07 Jul 2024 18:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755174 The ITAT Bangalore upheld the jurisdictional AO's validity to pass the assessment order despite technical glitches preventing proper transfer reflection on the ITBA portal, noting CBDT approval was obtained. The Tribunal directed exclusion of six comparables due to turnover exceeding Rs. 200 crores against assessee's Rs. 14.53 crores, and removal of Manipal Digital Systems for lacking segmental details. Working capital adjustment was allowed following Huawei Technologies precedent. The AO was directed to set off brought forward losses against final TP adjustments in compliance with statutory provisions. Case-Laws Income Tax Fri, 22 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755174