PEGASYSTEMS WORLDWIDE INDIA PRIVATE LIMITED,HYDERABAD vs. DCIT, CIRCLE 16(2), HYDERABAD

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ITA 80/HYD/2022Status: DisposedITAT Hyderabad03 August 2023AY 2017-182 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The tribunal accepted the assessee's request to withdraw the appeal. The APA rendered the transfer pricing adjustments, which were the subject of the appeal, no longer sustainable.

What were the facts?

The assessee filed an appeal against an order related to transfer pricing adjustments for AY 2017-18. The assessee had entered into an Advance Pricing Agreement (APA) with the CBDT covering the relevant assessment year.

What were the issues?

Whether the appeal filed by the assessee is to be withdrawn in light of a subsequently executed Advance Pricing Agreement (APA).

Which sections of the Income-tax Act were involved?

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

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Hyderabad ‘A ‘ Bench, Hyderabad

Before: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Ms. Krithika, CA
For Respondent: Smt. K. Haritha, DR
Hearing: 03/08/2023Pronounced: 03/08/2023

Date of hearing: 03/08/2023 Date of pronouncement: 03/08/2023 ORDER

Per R.K. Panda, Vice-President

1.

This appeal filed by the assessee is directed against the order dated 31.1.2022 passed u/s 143(3) r.w.s. 144C(3) r.w.s. 144B of the I.T. Act by the learned CIT (A)-NFAC Delhi, relating to A.Y.2017-18.

2.

The learned Counsel for the assessee at the outset filed an application seeking withdrawal of the appeal the contents of which are as under: “This is with reference to the captioned appeal filed by Pega India before your Honours in respect of A.Y 2017-18. Copy of the appeal filed has been enclosed as Annexure 1. In this regard, the Appellant would like to submit that the Appellant has entered into an Advanced Pricing Agreement (“the agreement” or “APA”) with the Central Board of Direct Taxes (“CBDT”) on 27 March 2023. The Agreement is applicable to Page 1 of 2

ITA-TP 80 of 2022 Pegasystems consecutive five years commencing from Previous Year 2015-16 to Previous Year 2019-20 (relevant to A.Y 2016-17 to 2020-21). A copy of the Agreement has been enclosed as Annexure 2 for your Honour’s reference. In the subject A.Y 2017-18, the learned Assessing Officer/Learned Transfer Pricing Officer proposed transfer pricing adjustments pertaining to Pega India’s International transactions with its associated enterprise. We wish to submit that all these adjustments against which the subject appeal was preferred by Pega India will no longer sustain in view of the above-mentioned APA. Accordingly, the Appellant would like to withdraw the captioned appeal. We request you to take the above as application to withdraw appeal for A.Y 2017-18 on record and kindly oblige”.

3.

In absence of any objection from the side of the learned DR, the request of the assessee seeking permission to withdraw the appeal is accepted and the appeal is dismissed as withdrawn.

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