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2022 (7) TMI 1349 - ITAT BANGALORETP Adjustment - Comparable selection - HELD THAT:- Admittedly the functions, assets owned and risks assumed by the assessee under the segment is similar with A.Ys. 2014-15 & 2015-16 - Respectfully following the above view, we direct the Ld.AO to exclude Infosys Ltd., Persistent Systems Ltd., Mindtree Ltd. and L&T Infotech Ltd. from the final list. Working capital adjustment was not been granted while computing the margin of the comparables - We are of the opinion that the revenue was not justified in denying the working capital adjustment in order to bring the comparable companies for the purposes of broad comparison it is necessary to grant working capital adjustment that would eliminate the differences. AO/TPO is directed to allow the working capital adjustment on actuals based on the materials already available on record - Accordingly, this ground raised by assessee stands allowed for statistical purposes.
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