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2015 (2) TMI 1103 - AT - Income TaxTransfer pricing adjustment - selection of comparable - Held that:- Pentamedia Graphics Ltd - the points brought out by the Ld. Representative clearly establish that the said concern has been wrongly excluded from the list of comparables. We therefore direct the Assessing Officer to consider the said concern as a comparable. Ace Software Exports Ltd. - there is no justifiable reason to consider the Ace Software Exports Ltd. as a comparable concern in order to benchmark assessee’s international transaction of Provision of ITES to its associated enterprise. The order of the TPO is hereby affirmed and assessee fails on this aspect. Accentia Technologies Ltd. - during the year under consideration there were extraordinary events that took place in the said concern which warranted exclusion of this company as a comparable. We therefore hold that the said concern cannot be considered as a comparable. Coral Hubs Ltd. (formerly Vishal Information Technologies Ltd.) fit to be excluded from the final set of comparables, as not comparable to assessee as ITES provider. Cosmic Global Ltd. is not a good comparable to be included for the purposes of comparability analysis as it operates under a different business model which impacts operating margins. As a 14 consequence, we direct the Assessing Officer to exclude the said concern from the final set of comparables. Crossdomain Solutions Ltd. liable to be excluded from the list of comparables as there was no bifurcation available for various diversified activities being carried out by the said concern and therefore on an entity level the said concern could not be compared to a normal ITES provider.
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