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2021 (2) TMI 1208 - AT - Income TaxTP Adjustment - comparable selection - Infobeans Technologies Ltd inclusion/exclusion - HELD THAT:- Considering the fact that Infobeans Technologies Ltd. is engaged in diversified activities and segmental details are not available, the Tribunal, Pune Bench, in Pubmatic India Pvt. Ltd. [2018 (4) TMI 437 - ITAT PUNE] has held that this company cannot be treated as comparable - The same view was again expressed by the Tribunal, Delhi Bench, in M/s. Abhay India Pvt. Ltd.[2019 (9) TMI 1200 - ITAT DELHI] - Keeping in view the consistency in the decisions of the Tribunal with regard to the comparability of Infobeans Technologies Ltd. with a routine software development service provider, we hold that this company cannot be a comparable to the assessee. Accordingly, we direct the Assessing Officer to remove this company from the list of comparables and determine the arm's length price.
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