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
Toubro Infotech Ltd 19.83%
8 Mindtree Ltd.(Seg.) 10.66%
9 Persistent Systems & Solutions Ltd. 22.12%
10 Persistent Systems Ltd. 22.84%
11 R S Software ... Company name Net margin
Sl.No as per TP
order
1 Persistent Systems & Solutions Ltd. 22.12%
2 Persistent Systems Ltd 22.84%
4. Mindtree
lnfochips Limited
• Thirdware Solutions Limited
• Infobeans Technologies Limited
• Infosys Limited
· Persistent Systems Limited
• Larsen & Toubro lnfotech Limited
· Tata Elxsi Limited
• Mindtree Limited ... computing the margin of following
comparable companies:
• E-Infochips Ltd
• Thirdware
• Persistent Systems Limited
• Tata Elxsi Limited
• Infosys BPO
• Microland Limited
7. On the facts
retained only the following three companies as comparable companies viz.,
(i) Persistent Systems Ltd., (ii) Sasken Communication Technologies Ltd.,
and (iii) Persistent Systems & Solutions ... exclusion of the three companies by the DRP viz., Persistent systems Ltd.,
Persistent Systems & Solutions Ltd., and Sasken Communication
Technologies Ltd. The assessee
view of the high turnovers of L&T Infotech Ltd.,
Persistent Systems Ltd., Sasken Communications Technologies
Ltd., and Tata Elxsi Ltd., indicating, inter alia ... That e-Zest Solutions Ltd., Larsen and Toubro Ltd.,
Persistent Systems & Solutions Ltd., Persistent Systems Ltd. and
Sasken Communication Technologies Ltd. ought
into by the Appellant:
a) Cybercom Datamatics Information Solutions Ltd.
b) Persistent Systems Ltd.
c) Mindtree Ltd.
d) Larsen & Toubro Infotech Ltd.
e) Cigniti ... assessee is
contesting for deletion of the comparables namely:-
a. Persistent Systems Ltd
b. Larsen and Toubro Infotech Ltd
c. Sasken Technology Ltd
d. Cybercom
Infochips Limited, e-Zest Solutions Limited, ICRA
Techno Analytics Limited and Persistent Systems &
Solutions Limited as comparable to the captive
software development services function ... Infotech Limited 19.83 21.64
8. Mindtree Limited (seg.) 10.66 10.99
9. Persistent Systems & Solutions Limited 22.12 22.94
10. Persistent Systems Limited
Appellant in functions, asset base and
risk profile such as;
(i) Persistent Systems Limited
(ii) Sasken communications Limited
2.7. Not considering comparables similar ... companies from the
final list of comparables i.e. (1) Persistent Systems Ltd. and (2)
Sasken Communication Ltd. in respect of software development
service transactions
Toubro Infotech Ltd. 18.22
7 LGS Global Limited 12.13
8 Persistent Systems & Solutions Ltd. [Merged] 22.65
9 Persistent Systems ... Infochips Ltd.
ii) E-Zest Solutions Ltd.
iii) Infosys Ltd.
iv) Persistent Systems Ltd.
17
ITA Nos.473 & 193/Del/2016
v) Sasken Communication
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
