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xi)E-4-e Healthcare Business Service Pvt. Ltd.(EHBSPL)-Before the DRP,the assessee contended that the company was engaged in health care out-sourcing services.The DRP held that EHBSPL was into healthcare BPO and was functionally comparable to the assessee, that the TPO had rightly accepted it as a valid comparable.

ITA(TP)/927/M/16(11-12)Goldman Sachs (India)Securities Pvt.Ltd.

4.1.During the course of hearing before us,the Authorised Representative(AR)stated that in the assessee's own case the Tribunal had excluded ECL and AT from the list of the valid compa -rables(ITA/6921/Mumu/2012.AY.2008-09,dtd.22.07.2016),that in the case of Capitia India Pvt.Ltd.(ITA.s/356&105/Mum/2016.AY.2-11-12,dtd.19.09.2016)TCS was held to be an in-valid comparable for IT-e services,that the Tribunal had held that Infosys was not a valid comparable in the case of Actis Global Services Private Limited(ITA/6175 /Del/ 2015, AY. 2011-12,dtd.29.07.2016),that in the matter of Exevo India Pvt.Ltd.(ITA/907/ Del/ 2016, AY. 2011-12,dtd.25.07.2016)CVSEL and RSL were considered valid comparable for IT-e servi -ces,that EHBSPLwas a functionally different company and that it was not engaged in providing IT-e services.

This, in view of our discussion and also following the precedence in the aforesaid cases, we hold that TCS e-Serve cannot be held to be comparable company, accordingly, we direct the AO/TPO to exclude the same from comparability list."

Respectfully following the same,we hold that TCE e-Service cannot be considered a valid comparable in the case of the assessee.

4.2.c.It is found that in the case of Actis Global Services Private Limited(supra),the Tribunal had held that Infosys was not a valid comparable for the IT-e services company.We are reproducing the relevant portion of the order and it reads as follow:

40. In Merker equitable service centre India Pvt. Ltd. 133 ITD 543, it was held that Infosys BPO cannot be considered as a comparable to a captive service provider, like assessee.

41. Ld. DR has submitted that Actis is also a brand and, therefore, adjustment should be made for the difference. We are unable to accept this contention particularly because the department has not brought on record any brand value of Actis on record. Moreover, the wide difference in turnover makes it clear that there is wide difference in the brand value of the two companies and, therefore, without quantification of the same, effect on turnover cannot be ascertained. We further find that the Infosys BPO has not been taken as comparable in detailed list annexed to synopsis filed by assessee including the following cases: - "