RED BULL INDIA PRIVATE LIMITED,MUMBAI vs. ADDITIONAL/JOINT/DEPUTY/ASSISTANT COMMISSIONER OF INCOME TAX-NFAC, DELHI, DELHI

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ITA 2373/MUM/2022Status: DisposedITAT Mumbai21 June 2023AY 2018-193 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal acceded to the assessee's request to withdraw the appeal. The appeal was dismissed as withdrawn because the matter was covered under the APA.

What were the facts?

The assessee, Red Bull India Pvt Ltd, filed an appeal against the final order of assessment for AY 2018-19. The assessee later entered into a Unilateral APA with the CBDT covering international transactions including import of finished goods and AMP expenses.

What were the issues?

Whether the appeal should be withdrawn as the underlying issue of transfer pricing adjustment is covered by a Unilateral APA.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(13)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “J”, MUMBAI

Before: KULDIP SINGH & MS. PADMAVATHY S.

For Respondent: Shri Manoj Kumar – CIT DR

Date of hearing 21-06-2023 Date of pronouncement 21-06-2023 O R D E R PER : MS PADMAVATHY S. (AM)

This appeal filed by the assessee is against the final order of assessment passed by the Assessing Officer, assessment Unit, Income-tax Department dated 22/07/2022 under section 143(3) read with section 144C(13) of the Income-tax Act, 1961 for the assessment year 2018-19. 2. At the time of hearing, the Registry has placed before us, a letter dated 03/05/2023 from the assessee wherein the assessee informed as under:-

2 ITA 2373/Mum/2022 Red Bull India Pvt Ltd “This is in reference to the ongoing appellate proceedings in the captioned matter before your honour. In this regard, the Appellant humbly inform your honour that the Appellant has entered into a Unilateral APA with the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India on 10 March 2023. The details in relation to the same has been furnished below for your honour’s ready reference: Particulars Period covered International Transactions covered APA Consecutive five years commencing Import of finished goods from AE including incurring of Advertisement from AY 2014-15 to AY 2013-14 (‘ Marketing and Promotion (‘AMP’) APA period’) expenses relating to the distribution APA Rollback AY 2010-11 through AY 2013-14 (“ segment APA Rollback peiod”) The Appellant humbly submits that the appeal for the captioned matter is pending before your honour and the Appellant wishes to withdraw the appeal pending in case of transfer pricing adjustment as the matter is covered under APA. Based on the above, we request your honour to consider the request for withdrawal of grounds of appeal

.”

3. The request of the assessee for withdrawal of the appeal in is hereby acceded to and the appeal is dismissed as withdrawn.

4. In the result, the appeal is dismissed. Order pronounced in the open court on 21/06/2023.

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