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1 - 3 of 3 (0.25 seconds)The Income Tax Act, 1961
Vodafone India Services Private Ltd.,, ... vs The Deputy Commissioner Of Income Tax, ... on 23 January, 2018
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17.3 We have heard the rival submissions
and perused and carefully considered the
material on record. It is seen from the details on
record that this company i.e. Persistent Systems
Ltd., is engaged in product development and
product design services while the assessee is a
software development services provider. We find
Date of Judgment 08-08-2018 I.T.A.No.374/2017
The Pr. Commissioner of Income-tax & Anr. Vs.
M/s. Analog Devices India Pvt. Ltd.,
7/10
that, as submitted by the assessee, the
segmental details are not given separately.
Therefore, following the principle enunciated in
the decision of the Mumbai Tribunal in the case of
Telecordia Technologies India Pvt. Ltd. (supra)
that in the absence of segmental
details/information a company cannot be taken
into account for comparability analysis, we hold
that this company i.e. Persistent Systems Ltd.
ought to be omitted from the set of comparables
for the year under consideration. It is ordered
accordingly.
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