2017 (9) TMI 1771 - HC - Income Tax

TPA - comparable exclusion - Tribunal directing exclusion of Infosys Technologies Ltd. and Kals Information Systems Ltd. in respect of Software Development Segment and exclusion of Vishal Information Technology Ltd. (now Coral Hub Limited) in respect of IT Enabled Services Segment - Held that - ITAT has given cogent reasons for excluding the aforementioned comparables applying TNMM and its order suffers from no legal infirmity giving rise to any substantial question of law. - decided against revenue

Summary

The Delhi High Court dismissed the Revenue's appeal against an ITAT order for the Assessment Year 2007-08. The ITAT excluded certain companies from comparables under TNMM, finding no legal infirmity in its decision. The appeal was dismissed.