Sasken
Communication Tech Ltd, Infosys Ltd, Kals
Information Systems Ltd, Persistent Systems Ltd,
Persistent Systems and Solutions Ltd,
R.R.Software Ltd as comparables ... uphold the order of the
DRP in deleting this company.
13.2 Persistent Systems & Solutions Ltd.,
The DRP deleted this company from the list
certain comparables, namely,
M/s. ICRA Techno Analytics Ltd, M/s. Persistent
Systems & Solutions Ltd., M/s. Persistent
Systems Ltd., M/s. Infosys ... exclude 1] M/s. ICRA Techno
Analytics Ltd., 2] M/s. Persistent Systems &
Solutions Ltd., and 3] M/s. Persistent Systems
Ltd., 4] Infosys
Consulting Ltd., Tata Elxsi Ltd. (Seg),
Sasken Communication Technologies Ltd. and
Persistent Systems Ltd. and it is the argument of
the ld. AR of assessee ... reported in 56 taxmann.com
202(Hyd). For exclusion of Persistent System
Ltd., reliance has been placed on the Tribunal's
order rendered
Consulting Ltd., Tata Elxsi Ltd. (Seg),
Sasken Communication Technologies Ltd. and
Persistent Systems Ltd. and it is the argument of
the ld. AR of assessee ... reported in 56 taxmann.com
202(Hyd). For exclusion of Persistent System
Ltd., reliance has been placed on the Tribunal's
order rendered
exclude comparables
such as M/s. Bodhtree Consulting Ltd, Persistent
Systems Ltd, Infosys Technologies Ltd, Kals
Information Systems Ltd and Tata Elxsi Ltd as
comparable ... relied on, are as
under:
1. Bodhtree Consulting Ltd:
xxxxxx
2. Persistent Systems Ltd:
xxxxxx
3. Larsen & Toubro Infotech:
xxxxxx
4. Infosys Ltd:
xxxxx
excluding the comparables, namely,
M/s.Bodhtree Consulting Ltd., Persistent
Systems Ltd., Infosys Ltd., and Larsen &
Toubro Infotech Ltd on the ground of functional ... risk adjustment".
Regarding substantial question of law No.2:-
"Persistent Systems Ltd.
Date of Judgment
Infotech Ltd., Lucid Software Ltd., Wipro
Ltd., E-Zest Solutions Ltd., Persistent Systems
Ltd., Quintegra Solutions Ltd., Thirware Solutions
Ltd., Helios & Matheson Information Technology ... Ishir Infotech Ltd, Kals
Information Systems Ltd (seg), Lucid Software
Ltd, Persistent Systems Ltd, Quintegra Solutions
Ltd, Tata Elxsi Ltd (seg), Thirdware Solutions
iGate
Global Solutions Ltd., M/s.Mindtree Ltd.,
M/s.Persistent System Ltd., M/s.Sasken
Communication Technologies Ltd., M/s Tata
Elxsi ... Persistent Systems Ltd.,
M/s.Sasken Communication Technologies
Ltd., M/s Tata Elxsi Ltd., M/s. Wipro Ltd.,
and M/s. Infosys Ltd., as comparables
Wipro Ltd.; (x) E-Zest Solutions Ltd.; (xi)
Persistent Systems Ltd.; (xii) Quintegra Solutions
Ltd.; (xiii) Thirdware Solutions Ltd.; (xiv) Helios &
Matheson Information Technology ... Wipro Ltd.; (x) E-Zest Solutions Ltd.; (xi)
Persistent Systems Ltd.; (xii) Quintegra Solutions
Date of Judgment
case of
M/s. LSI Technologies India Pvt. Ltd, Persistent
Systems Ltd and M/s. Flextronics Software
Systems Ltd, M/s.Aztec Software ... issue in respect
of two comparables i.e. M/s Persistent Systems
Ltd. and M/s Flextronics Software Systems Ltd.
by considering the Tribunal order
