2014 (4) TMI 1089

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....of comparables - (a) Infosys BPO Ltd. (b) Wipro Ltd. (c) Moldtek Technologies (d) Eclerx Services Limited 3. As for the first two companies, viz. Infosys BPO Ltd. and Wipro Limited, Learned Departmental Representative submitted that they have been excluded by the CIT(A) on the ground that they are giant companies and their turnover is not comparable with that of the assessee. In this connection, it is submitted by the Learned Departmental Representative that in the ITES sector, size does not matter and it is quality of the manpower which matters. He also placed reliance on the decisions of the Mumbai Bench of the Tribunal in the case of Vodafone India Services Pvt. Ltd. (ITS 95 ITAT 2013(Mum)-TP) and of the Delhi Bench of the Tribunal ....

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....s and other material on record. We find that the issue in question is covered by the consistent view taken by the Hyderabad benches of the Tribunal in similar matters, following the decisions of Capital IQ Information Systems P. Ltd. (supra) and Market Tools p. Ltd. Following the same, we find no infirmity in the action of the CIT(A) in excluding the two companies, viz. Infosys and Wipro from the list of comparables. We accordingly uphold the order of the CIT(A) on this aspect reject the grounds of the Revenue on this appeal. 6. As for the exclusion of the third and fourth companies, viz. Moldtek Technologies and Eclerx Services Technologies, the Learned Departmental Representative strongly supported the order of the Assessing Officer subm....