https://www.taxtmi.com/caselaws?id=462410 ITAT Hyderabad directed TPO to include Akshay Software Technologies Ltd. as comparable, finding no justified difference in business models despite foreign branch expenditure. The tribunal excluded multiple companies from comparables: Sasken Communication Technology Ltd. for failing 75% export turnover threshold; Tata ELXSI Ltd., E-Infochips Ltd., Persistent Systems Ltd. for functional dissimilarity; Larsen & Toubro Infotech Ltd. for extraordinary events and brand value; Infosys Ltd. for giant size and brand value; Infobeans Technologies Ltd. for engaging in goods sale; Thirdware Solution Limited for different business focus; Maveric Systems Limited for high R&D expenditure; Athena Global Technologies for negative network and inventory issues; and Kals Information Systems Limited for unclear business nature. The case was remitted regarding Evoke Technologies for export turnover re-verification. en-us Wed, 15 Dec 2021 00:00:00 +0530 Fri, 20 Jun 2025 12:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462410 ITAT Hyderabad directed TPO to include Akshay Software Technologies Ltd. as comparable, finding no justified difference in business models despite foreign branch expenditure. The tribunal excluded multiple companies from comparables: Sasken Communication Technology Ltd. for failing 75% export turnover threshold; Tata ELXSI Ltd., E-Infochips Ltd., Persistent Systems Ltd. for functional dissimilarity; Larsen & Toubro Infotech Ltd. for extraordinary events and brand value; Infosys Ltd. for giant size and brand value; Infobeans Technologies Ltd. for engaging in goods sale; Thirdware Solution Limited for different business focus; Maveric Systems Limited for high R&D expenditure; Athena Global Technologies for negative network and inventory issues; and Kals Information Systems Limited for unclear business nature. The case was remitted regarding Evoke Technologies for export turnover re-verification. Case-Laws Income Tax Wed, 15 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462410