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2019 (7) TMI 1584 - AT - Income TaxTP Adjustment - Comparable selection - HELD THAT:- Assessee is a company engaged in providing Information Technology Enabled Services (ITES) to its Associated Enterprises (AEs) such as pay roll processing, cashiering, document imaging, loan accounting, Investor reporting and Internet based customer services. In the year under consideration, the assessee has classified its international transactions as ITES thus companies functionally dissimilar with that of assessee need to be deselected from final list. Working capital adjustment - Respectfully following the above decision of the Co-ordinate Bench in the case of Huawei Technologies India (P.) Ltd. [2018 (10) TMI 1796 - ITAT BANGALORE] we also hold that the working capital adjustment is to be allowed as per actuals, after considering the decisions rendered in this order on the exclusion/inclusion of comparable companies out of/into the final set of comparables. The TPO/AO are accordingly directed.
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