Limited, (c) Tata Elxsi Limited, (d) Sasken Communication
Technologies Limited, (e) Persistent systems Limited, (f) Larsen &
Toubro Infotech Limited in Software Development services segment ... Limited
ii) Tata Elxsi Limited
iii) Sasken Communication Technologies Limited
iv) Persistent Systems Limited
v) Larsen & Toubro Infotech Limited in Software Development services
segment
following six comparables are required to be excluded. They are :-
i) Persistent Systems Limited (Persistent Systems);
ii) Sasken Communications Technologies Limited(Sasken);
iii) Kals Information ... comparables by assessee
Persistent 1. Appellant has failed to 1. Cannot exclude Persistent 1. Persistent Systems is a well
demonstrate as to how turnover Systems
assessee is that there are four
comparables i.e. (i) Persistent Systems Ltd. (ii) Thirdware Solutions Ltd.
(iii) Cigniti Technologies Pvt. Ltd. & (iv) Mindtree ... ground
regarding exclusion of certain comparable companies i.e. (i) Persistent
Systems Ltd. (ii) Thirdware Solutions Ltd. (iii) Cigniti Technologies Pvt.
Ltd. & (iv) Mindtree
erred, violating provisions of Rule 10B(2) by
considering Persistent Systems Limited as a comparable to the
Appellant.
11. On the facts ... Toubro Infotech Ltd. 19.76%
12 Mindtree Limited (Segment) 20.47%
13 Persistent Systems Limited 30.15%
14 Persistent Systems & Solutions
11.37%
Limited
15 Quintegra Solutions
Bang/2016
Page 5 of 28
2. Persistent Systems Ltd
3. R S Software India Ltd
4. Sasken Communication Technology Ltd
5. Tata Elxsi ... comparables are detailed as under:
1. Mindtree Ltd
2. Persistent Systems Ltd
3. R S Software India Ltd
4. Sasken Communication Technology Ltd
5. Tata
Bang/2016
Page 5 of 28
2. Persistent Systems Ltd
3. R S Software India Ltd
4. Sasken Communication Technology Ltd
5. Tata Elxsi ... comparables are detailed as under:
1. Mindtree Ltd
2. Persistent Systems Ltd
3. R S Software India Ltd
4. Sasken Communication Technology Ltd
5. Tata
Exilant Technologies Private Limited
Larsen & Toubro Infotech Ltd
Mindtree Ltd
Persistent Systems Ltd
Sasken Technologies Ltd
Wipro Ltd
Tata Elxsi Ltd
Nihilent Ltd
Infosys ... Limited
b) Larsen & Toubro Infotech Ltd
c) Mindtree Ltd
d) Persistent Systems Ltd
e) Sasken Technologies Ltd
f) Wipro Ltd
g) Tata Elxsi
confirming the same.
2.9 The AO/TPO erred in including Persistent Systems
& Solutions Ltd, R S Software, Acropetal Technologies
Limited, E-Zest Solutions ... Solutions
iii) E-Infochips Ltd.
iv) ICRA Techno Analytics Ltd.
v) Persistent Systems & Solutions Ltd.
(i) Acropetal Technologies Limited (Acropetal)
11. The assessee seeks
time of hearing is that if three comparables i.e.
(i) Persistent System Limited (ii) Thirdware Solutions Limited and (iii)
MPS Limited are excluded from ... EXCLUSION OF COMPANIES AS COMPARABLES TO SOFTWARE
DEVELOPMENT SERVICE SEGMENT
(A) Persistent Systems Limited:-
9. The Ld. AR of the assessee submitted that Persistent Systems
Deputy Commissioner Of Income-Tax,, vs Persistent Systems Pvt. Ltd.,, Pune on 12 July, 2017
आयकर अपीऱीय अधिकरण पण
ु े न्यायपीठ "बी ... Commissioner of Income Tax,
Circle 4, Pune .... अऩीऱाथी/Appellant
Vs.
Persistent Systems Pvt. Ltd.,
Bhageerath, 402,
Senapati Bapat Marg,
Pune - 411016 .... प्रत्यथी / Respondent
PAN: AABCP1209Q
