{"id":51998,"date":"2025-03-18T11:46:29","date_gmt":"2025-03-18T06:16:29","guid":{"rendered":"https:\/\/itatonline.org\/digest\/virtusa-consulting-services-p-ltd-v-dy-cit-2024114-itr-386-chennaitrib-2\/"},"modified":"2025-03-18T11:46:29","modified_gmt":"2025-03-18T06:16:29","slug":"virtusa-consulting-services-p-ltd-v-dy-cit-2024114-itr-386-chennaitrib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/virtusa-consulting-services-p-ltd-v-dy-cit-2024114-itr-386-chennaitrib-2\/","title":{"rendered":"Virtusa Consulting Services P. Ltd. v. Dy. CIT (2024)114 ITR 386 (Chennai)(Trib)"},"content":{"rendered":"<p>Held that while considering comparable functionally different, higher turnover\u00a0 are to be excluded from final list. Tribunal also held that that neither the Assessing Officer nor the Dispute Resolution Panel had considered granting economic adjustment or working capital adjustment to the assessee although the assessee was principally entitled to the working capital adjustment. The Transfer Pricing Officer was directed to grant the working capital adjustment after verifying the assessee\u2019s numerical data. \u00a0Appeal is filed with in 60 days from the date of judgement High Court\u00a0 there is no delay in filing of appeal.\u00a0 (AY.2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 92C : Transfer pricing-Arm\u2019s length price-Avoidance of tax-International transaction-Comparables-Functionally different-Higher turnover-Excluded from final list-Appeal-Appeal is filed with in 60 days from the date of judgement High Court-No delay in filing of appeal. [S.92CA, 254(1)]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-51998","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dwG","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=51998"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51998\/revisions"}],"predecessor-version":[{"id":51999,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51998\/revisions\/51999"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=51998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=51998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=51998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}