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2023 (1) TMI 560 - AT - Income TaxTP Adjustment - comparable selection - rejection of companies of high turnover of more than 200 crores - HELD THAT:- Respectfully following the consistent view taken by this Tribunal in various decisions, we direct the Ld.AO to exclude L&T Infotech Ltd., Persistent Systems Ltd., Tata Elxsi Ltd., Infosys Ltd., Nihilent Technologies Ltd., Cybage Software Pvt. Ltd. from the final list of comparables. AR has submitted that Wipro has a turnover of Rs.43063.8 Crores, Sasken Technologies Ltd. has turnover of Rs.421.40 crores, Exilant Technologies Pvt. Ltd. has turnover of Rs.332.10 crores. These comparables are also to be excluded based on the same principles as observed by Coordinate Bench of this Tribunal in the above referred cases. Respectfully following the view taken hereinabove, we direct these comparables to be excluded from the final list for failing the turnover filter. Incorrect computation of certain comparables - We direct the Ld.AO to correct the margins and consider the claim of assessee in accordance with law. Accordingly, these grounds raised by assessee stands allowed for statistical purposes.
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