ITAT Bangalore Excludes Four Software Development Comparables in Transfer Pricing Appeal

EIT Services India Pvt.Ltd. Vs ACIT (ITAT Bangalore) The Bangalore ITAT partly allowed the assessee’s appeal against the final assessment order passed under Sections 143(3) read with 144C(13) of the Income-tax Act for AY 2015-16. The appeal involved transfer pricing adjustments relating to software development services and IT-enabled services rendered to Associated Enterprises (AEs). During the hearing, the assessee submitted that, with respect to the IT-enabled services segment, a revised order under Section 92CA had accepted the international transactions as being at arm’s length...