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
rejection of comparables
8.1. The Ld. TPO/ NFAC erred in selecting Persistent Systems Limited as comparable,
despite
a. Having extra-ordinary events during the year ... NFAC erred in wrongly computing the margin of Persistent Systems
Limited. The Hon'ble DRP erred in upholding the actions
Limited 3) Larsen Toubro Infotech
Limited, 4) Mindtree Limited and 5) Persistent Systems Limited as
comparable despite these companies being functionally
dissimilar to the Appellant ... Software Exports Limited
b) Larsen & Toubro Infotech Limited
c) Persistent Systems Limited
CG-VAK Software Exports Limited:
3.1 The ld. A.R. submitted that
submissions / objections
made by the appellant.
1 . Infomile Technologies Ltd.
2 . Harbinger Systems Pvt. Ltd
3 . Taal Tech India Pvt. Ltd.
4 . Exilant Technologies ... Aptus Software Labs Pvt. Ltd.
13. Acewin Agriteck Ltd.
14. Persistent Systems Limited
15. Wipro Ltd.
16. Tata Elxsi Limited
17. thfobeans Technologies Limited
erred in not considering the companies E-Zest
Solutions Ltd, Nintec Systems Ltd and Sasken Technologies Ltd as
comparables rejecting the submissions made ... Great Software Laboratory Pvt. Ltd.
6. Mindtree Ltd.
7. Persistent Systems Ltd.
8. Tata Elxsi Ltd.
9. Infobeans Technologies Ltd.
10. Aptus Software Labs
Harbinger Systems Pvt Ltd
e) Orion India Systems Private Limited
f) Nihilent Technologies Ltd
g) Inteq Software Pvt Ltd
h) Persistent Systems Ltd
i) Infobeans
adopted by the Ld. TPO --
i. Cybage Software (P) Ltd.,
ii. Persistent Systems Ltd.,
6. We shall adjudicate the above grounds as under ... comparables :
i. Larsen and Toubro Infotech Ltd.,
ii. Mindtree Limited
iii. Persistent Systems Ltd.,
iv. Infosys Limited
v. Tata Elxi Limited
vi. Cygnet Infotech
Persistent Systems Limited, Pune vs Assessment Unit, Income-Tax ... on 2 November, 2023
आयकर अपीलीय अिधकरण "सी" ायपीठ पुणेम।
IN THE INCOME ... 2022
िनधारणवष / Assessment Year : 2018-19
M/s.Persistent Systems Assessment Unit, Income
Limited, V Tax Department.
"Bhageerath" 402, Senapati s
Bapat Road
Cybercom Datamatics Information Solutio ns Ltd.
2. Mindtree Ltd.
3. Persistent Systems Ltd.
4. Tata Elxsi Ltd.
5. Comviva Technologies Ltd.
8. Heard the arguments ... assessee
company is functionally similar comparable to M/s Mindtree Ltd.
Persistent Systems Ltd.
22. The Revenue held that this is functionally comparable
Commisioner Central Excise And Service ... vs Persistent Systems Ltd. on 25 January, 2023
CUSTOMS, EXCISE AND SERVICE TAX APPELLATE TRIBUNAL
MUMBAI
WEST ZONAL BENCH
SERVICE ... 29th May 2017 passed by the Commissioner of Service Tax, Pune.]
Persistent Systems Ltd
402E, Bhageerath, Senapati Bapat Road
Golkhalenagar, Pune - 411 016 ... Appellant
versus
