https://www.taxtmi.com/caselaws?id=760262 The ITAT Hyderabad ruled on multiple transfer pricing issues. The tribunal directed the AO/TPO to apply a turnover filter of ten times on both ends for fresh comparable selection in determining arm's length price. Regarding InfoBean Technologies, the matter was restored to verify whether software services constitute a product or integral service component. The tribunal upheld inclusion of MPS Ltd as a comparable, finding it functionally similar to the assessee's outsourced publishing services. For notional interest on trade receivables, the tribunal confirmed this constitutes an international transaction requiring benchmarking, allowed 60 days credit period instead of 30 days, and set interest rate at LIBOR+200 basis points. Appeals were partly allowed. en-us Wed, 09 Oct 2024 00:00:00 +0530 Thu, 17 Oct 2024 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760262 The ITAT Hyderabad ruled on multiple transfer pricing issues. The tribunal directed the AO/TPO to apply a turnover filter of ten times on both ends for fresh comparable selection in determining arm's length price. Regarding InfoBean Technologies, the matter was restored to verify whether software services constitute a product or integral service component. The tribunal upheld inclusion of MPS Ltd as a comparable, finding it functionally similar to the assessee's outsourced publishing services. For notional interest on trade receivables, the tribunal confirmed this constitutes an international transaction requiring benchmarking, allowed 60 days credit period instead of 30 days, and set interest rate at LIBOR+200 basis points. Appeals were partly allowed. Case-Laws Income Tax Wed, 09 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760262