https://www.taxtmi.com/caselaws?id=462364 ITAT Mumbai ruled on transfer pricing adjustments and comparable selection issues. The tribunal excluded Moti Lal Oswal Investment Advisors as comparable, citing lack of credible information and procedural fairness concerns. For ITeS comparables, CG VAK Software was retained despite losses, R Systems was included despite different year-end, while Infosys BPO, Acropetals Technologies, and Eclerx Services were excluded for functional dissimilarity. The tribunal rejected Revenue's methodology of selecting only top 10 FII clients, directing consistency with previously accepted methods. Stock exchange penalty payments were allowed as business expenses, not statutory violations. Integrated Capital Services remained included as comparable, and ESOP costs for RSUs were allowed as deductions under section 37(1). en-us Thu, 17 Feb 2022 00:00:00 +0530 Mon, 16 Jun 2025 19:09:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462364 ITAT Mumbai ruled on transfer pricing adjustments and comparable selection issues. The tribunal excluded Moti Lal Oswal Investment Advisors as comparable, citing lack of credible information and procedural fairness concerns. For ITeS comparables, CG VAK Software was retained despite losses, R Systems was included despite different year-end, while Infosys BPO, Acropetals Technologies, and Eclerx Services were excluded for functional dissimilarity. The tribunal rejected Revenue's methodology of selecting only top 10 FII clients, directing consistency with previously accepted methods. Stock exchange penalty payments were allowed as business expenses, not statutory violations. Integrated Capital Services remained included as comparable, and ESOP costs for RSUs were allowed as deductions under section 37(1). Case-Laws Income Tax Thu, 17 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462364