2025 (2) TMI 1936

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....s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). 2. At the outset, we find that this is a recalled matter only for the limited purpose of adjudication of ground No. 10(b) i.e. exclusion of one of the comparable company i.e. Persistent Systems Ltd. 3. We find that this Tribunal had already disposed of the appeal in ITA No. 6692/Del/2018 dated 29.09.2020, wherein, in para 12, this comparable company Persistent Systems Ltd was considered. This finding was later recalled in a miscellaneous application vide MA No. 250/Del/2020 dated 18.10.2022 and hence the present recalled proceedings before us. In the meanwhile, the revenue preferred an appeal before the Hon'ble Delhi High Court challenging the MA order dated ....

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....his comparable company is engaged in the business of sale of software products, services and technology innovation, however, the ld DRP having observed that, finally upheld the action of the ld TPO in including Persistent Systems Ltd as a good comparable by stating that the said comparable company has got only one stream of income i.e. software services and since the assessee company is engaged in software services, the same becomes a good comparable with that of the assessee. 6. We find that this Tribunal in AY 2010-11 in assessee's own case vide order dated 17.04.2017 had directed the exclusion of Persistent Systems Ltd from the final list of comparable on the ground that it is engaged in sale of software products and hence functio....