Infosys
Limited, Larsen & Toubro Infotech Limited, Tata Elxsi Limited (seg),
Persistent Systems Limited, Mindtree Ltd, Cybage Software Private
Limited, E-Info Chips ... Infosys Limited, Larsen & Toubro Infotech Limited, Tata Elxsi Limited (seg),
Persistent Systems Limited, Mindtree Ltd, Cybage Software Private Limited
and E-Info Chips
Mindtree Ltd 8,88,02,00,861 11.79
12 Persistent Systems & Solutions Ltd 18,94,90,457 21.51
13 Persistent Systems ... Mindtree Ltd 8,88,02,00,861 11.79
5 Persistent Systems Ltd 6,29,15,80,000 26.68
6 Sasken Communication Technologies
Larsen & Toubro Infotech Ltd. 24.61
3. Mindtree Ltd. 20.43
4. Persistent Systems Ltd. 35.10
5. R S Software(India) Ltd. 24.25
6. Cigniti Technologies ... comparable:-
(a) Infosys Ltd.;
(b) Larsen and Toubro Infotech Ltd.;
(c) Persistent Systems Limited.; and
(d) Thirdware Solution Ltd.
IT(TP)A No.3403/Bang
Bang/2016
Ltd., ICRA Techno Analytics Ltd., and Persistent
Systems & Solutions Ltd., despite these companies
being functionally dissimilar to the Appellant. The DRP
also ... rejected Infosys Ltd., Larsen & Toubro
Infotech Ltd., Persistent Systems Ltd., Mindtree Ltd., and
Tata Elxsi Ltd., on application of upper turnover filter
follows:
(i) Infosys Technologies Limited
(ii) Tata Consultancy Services Limited
(iii) Persistent Systems Limited
(iv) Sasken Communication Tech Limited
(v) Cat Technologies Limited
(vi) Thirdware ... 1460/Del/2014
Serco India Pvt. Ltd.
Persistent Systems Limited
49. It is submitted that Persistent Systems Limited, a bigger
company, is not comparable with
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
Toubro Infotech Ltd.
• Nihilent Technologies Ltd.
• Inteq Software Pvt. Ltd.
• Persistent Systems Ltd.
• InfoBeans Technologies Ltd.
• Thirdware Solutions Ltd.
• Infosys Ltd.
• Aspire Systems (India ... Nihilent Ltd. 26.36%
8 Inteq Software Pvt. Ltd. 28.20%
9 Persistent Systems Ltd. 30.89%
10 Infobeans Technologies Ltd. 32.420/0
11 Thirdware Solutions
learned Panel erred in
law and on facts in including Persistent Systems Ltd. as a comparable to the
Appellant on the ground of functional similarity ... filter should St be @ 25%. In th case of Persistent
Systems Ltd., the RPT is at 31.32% as extracted in the earlier part of
this
pressed:-
(1) Infosys Ltd.
(2) Larsen & Toubro Ltd.
(3) Persistent Systems Ltd.
(4) Thirdware Solutions Ltd.
7. The assessee sought inclusion of 6 comparables ... Inteq Software Pvt. Ltd. 7.53% 32.14% 45.00% 28.20%
9 Persistent Systems Ltd. 26.92% 31.34% 35.64% 30.89%
10 Infobeans Technologies
Infotech Ltd. 19.83 21.32
8 Mindtree Ltd. (seg) 10.66 10.69
9 Persistent Systems & Solutions Ltd. 22.12 22.63
10 Persistent Systems ... contentions of the Assessee seeking
exclusion of Sasken Communication Technologies Ltd., Persistent
Systems Ltd., and Persistent Systems and Solutions Ltd.
(d) The DRP also rejected
