comparable companies. It is ordered accordingly."
12) Persistent Systems Ltd.
"17.1.1 This company was selected by the TPO as a comparable. The
assessee ... matter, the
Assessing Officer included this company i.e. Persistent Systems Ltd.,
in the list of comparables as it qualified the functionality criterion.
17.1.2 Before
including Infosys Limited. Larsen & Toubro
Infotech Limited, Mindtree Limited, Persistent Systems Ltd, Cigniti
Technologies Ltd. and Thirdware Solutions Ltd as comparable, despite
these companies ... Infotech Ltd. and Persistent Systems Ltd. are
concerned, our attention was drawn to the decision of ITAT, Hyderabad
Bench in the case
Larsen & Toubro Infotech Limited;
ii) Sasken Communications Technologies Limited;
iii) Persistent Systems Limited;
iv) Persistent Systems and Solutions Limited;
v) Thirdware Solutions Limited ... Global Limited 10.30%
9 Mindtree Limited (seg) 9.19%
10 Persistent Systems & Solutions Ltd 19.67%
11 Persistent Systems Ltd 24.57%
12 R S Software India
Dcit, Circle - 4, Pune vs Persistent Systems Private Ltd., Pune on 23 December, 2016
आयकर अपील�य अ�धकरण पुणे �यायपीठ "ए" पुणे ... Addl. Commissioner of Income Tax,
Range - 4, Pune .... अपीलाथ�/Appellant
Vs.
Persistent Systems Pvt. Ltd.,
Bhageerath, 402,
Senapati Bapat Road,
Pune - 411016 .... ��यथ� / Respondent
rejecting the comparable
viz. 1. Larsen Turbo InfoTech Ltd. 2. Persistent Systems Ltd,
3.Sasken Communication Technologies Ltd., 4. Zylog Systems
Ltd., 5. Wipro Technologies ... 2017
Persistent has undergone extra ordinary events during the year
under assessment as it has amalgamated with Persistent eBusiness
Solutions Ltd. and Persistent Systems
Mindtree Ltd. (Seg) 10.66% 11/62%
9. Persistent Systems & 22.12% 23.10%
Solutions Ltd.
10. Persistent Systems Ltd. 22.84% 23.52%
11. R S Software India ... companies selected by
the TPO and retained three comparable companies viz., Persistent
Systems & Solutions Ltd., Sasken Communication Technologies Ltd. &
Persistent Systems
Infosys BPO Limited
Sasken Communication Aditya Birla Minnacs Worldwide
Technologies Limited
Persistent Systems Limited Accentia Technologies Limited
Larsen & Toubro Infotech Informed Technologies India Limited ... Systems Ltd (seg), Helios & Matheson Information
Technology Ltd, Infosys Technologies Ltd, Ishir Infotech Ltd, Kals Information
Systems Ltd (seg), Lucid software Ltd, Persistent Systems
Omni Ax'S Software Ltd. 2
8 Persistent Systems & Solutions Ltd 20
9 Quinnox Consultancy Services Ltd. 14
10 Reliance Infosolutions ... comparables and retained only
two comparables, namely, Mindtree Ltd and Persistent Systems &
IT(TP)A.356 & 313/Bang/2016 Page - 5
Solutions
Bang/2022
Page 4 of 133
• Inteq Software Pvt. Ltd
• Persistent Systems Ltd.
• Infobeans Technologies Ltd
• Thirdware Solution Ltd
• Infosys Ltd
• Aspire Systems (India ... Infotech Ltd.
(ii) Nihilent Ltd.
(iii) Inteq Software Pvt. Ltd.
(iv) Persistent Systems Ltd.
(v) Infobeans Technologies Ltd.
(vi) Thirdware Solution Ltd.
(vii) Infosys
M/S Continental Automotive Components ... vs Assistant Commissioner Of Income Tax ... on 24 November, 2021
