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captive software development company cannot be compared with a KPO. Additionally, he took us through the annual report to evidence that no segmental data vis-à-vis the services and products was available. We find that cloud computing has been the major source of revenue of this company, hence, functionally not comparable. In the assessee's own case for the assessment year 2008-09, this comparable has been excluded by the Co-ordinate Bench of the Tribunal relying on the decision of Sunguard Solutions India Pvt. Ltd. in ITA No. 1487/Bang./2012. Hence, keeping in view the decision of the earlier year, we direct that this comparable may be excluded from the list of comparables.

Persistent Systems Ltd.:

22. It was argued by the ld. AR that this comparable is functionally different as it is engaged in diversified services including intellectual property led software solutions and software products focusing on cloud computing, business intelligence and analytics etc. and is hence functionally dissimilar. The company also owns significant intangibles. A perusal of the profit and loss account of the company that the company had revenue streams from software services and products. It is seen that the revenues and expenses have been shown in a consolidated manner and no segmented disclosure has been made. In the assessee's own case for the assessment year 2008-09, this comparable has been excluded by the Co-ordinate Bench of the Tribunal. Hence, keeping in view the decision of the earlier year, we direct that this comparable may be excluded from the list of comparables Sasken Communication Technologies Ltd.: