comparability and ought to be
rejected:
Bodhtree Limited
Infosys Technologies Limited
Persistent Systems Limited
Tata Elxsi Limited
KALS Information Systems Limited
4. The assessee ... fresh
examination.
a. Bodhtree Consulting Limited;
b. Tata Elxsi Ltd;
c. Persistent Systems Ltd
d. Infosys Ltd
e. Kals Information Systems Ltd
b. To verify
cost ratio of 28.52%.
S. No. Company Name OP/OC%
1 Persistent Systems and Solutions Ltd. 22.12
2 Larsen & Turbo Infotech ... Persistent Systems Ltd. 23.08
4 Sasken Communication Technologies 24.36
Ltd.
5 Zylog Systems Ltd. 28.74
6 Wipro Technologies Ltd. (Wipro 54.42
Technologies Services Ltd.)
Average
Infotech Ltd 23.53
9. Mindtree Ltd (Seg) 21.32
10. Persistent Systems & Solutions Ltd 11.74
11. R S Software (India) Ltd 13.18
12. Sasken Communication ... Thinksoft Global Services Ltd 11.59
15. Zylog Systems Ltd 17.61
16. Persistent Systems Ltd 33.07
4. Assessee in its appeal has raised 13 grounds
Larsen and Toubro Infotech Limited 16.04
11. Mindtree Limited 8.76
12. Persistent Systems and Solutions Limited 18.77
13. Persistent Systems Limited ... direction, the mean margin of the
retained comparable companies i.e., Persistent Systems and
Solutions Limited, Persistent Systems Limited and Sasken
Communication Technologies Limited
present dispute: (i) Infosys Ltd,
(ii) Wipro Technology Services Ltd., (iii) Persistent Systems Ltd. and (iv)
Thirdware Solutions and Sales Ltd. By taking the aforesaid ... related party
transactions, making the company an unviable comparable . As regards
Persistent Systems Ltd, the Tribunal examined its Annual Report and
observed that no segmental
erred in excluding Infosys Ltd., M/s. KALS
Information Systems Ltd., Persistent Systems Ltd., M/s. Tata Elxsi Ltd.,
Sasken Communication Tech ... directed exclusion of Infosys Ltd., Kals Information Systems Ltd.,
Persistent Systems Ltd., Tata Elxsi Ltd., and Sasken
Communications Ltd., by accepting the contentions of assessee
Megasoft Ltd. 60.23 52.47
17. Mindtree Ltd. 16.90 16.28
18. Persistent Systems Ltd. 24.52 24.40
19. Quintegra Solutions Ltd. 12.56 10.11
20. R S Software ... Information Systems Ltd.
ix. Lucid Software Ltd.
x. Megasoft Ltd
xi. Persistent Systems Ltd.
xii. Tata Elxsi Ltd
xiii. Thirdware Solutions Ltd.
xiv. Wipro
Infotech Ltd. 19.97
11. Mindree Ltd. (Seg.) 20.47
12 Persistent Systems & Solutions Ltd. 11.37
(Merged)
13 RS Software (India) Ltd. 9.88
14 Sasken Communication ... Thinksoft Global Services Ltd. 11.22
17 Zylog Systems Ltd. 18.62
18 Persistent Systems Ltd. 31.57
Total 40.84
Average 22.69
b) Final comparables selected for customer
Systems & Services Ltd. and Accentia Technologies Ltd.
in ITES segment and sought exclusion of Infosys Technologies
Ltd., Wipro Limited, Kals Info Systems Ltd., Persistent ... Megasoft Ltd 60.23%
15 Mindtree Ltd. 16.90%
16 Persistent Systems Ltd. 24.18%
17 Quintegra Solutions Ltd. 12.56%
18 R S Software (India
Infotech Ltd. - Rs. 6183 crores
2. Persistent Systems Ltd. - Rs. 1720 crores
3. Tata Elxsi Ltd. - Rs. 1201 crores
4. Infosys ... taxmann.com 337 excluded Tata Elxi Ltd (Seg.), Persistant
Systems Ltd., Larsen and Toubro Infotech Ltd., RS
International Ltd., Nihilent Technologies Ltd., Infosys Ltd.,
Cybage
