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2020 (12) TMI 766 - AT - Income TaxTP Adjustment - comparable selection - exclusion of Excel Infoways Ltd. - HELD THAT:- As relying on M/S. ZENTA PVT. LTD., M/S. ACCENTURE SOLUTIONS PVT. LTD., (FORMERLY KNOWN AS ZENTA PVT. LTD.,) = TMI [2019 (9) TMI 1472 - ITAT MUMBAI] Excel Infoways Ltd., is to be excluded from the list of comparables and accordingly, no adjustment of arm’s length price of the international transaction need to be made in the instant case as is evident from the chart submitted by the assessee hereinabove. Accordingly, part of the ground raised by the revenue with regard to exclusion of Excel Inforways Ltd., contested by the revenue is dismissed.
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