YKK INDIA P. LTD,NEW DELHI vs. ACIT, CIRCLE-27(2), NEW DELHI

PDF · subscribers
ITA 7632/DEL/2019Status: DisposedITAT Delhi02 May 2022AY 2015-163 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal accepted the assessee's request for withdrawal of the appeal. Consequently, the appeal was dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against an order related to the assessment year 2015-16. The assessee later requested to withdraw the appeal as a Unilateral Advance Pricing Agreement (APA) had been signed, covering the disputed transactions.

What were the issues?

The primary issue was the disallowance of certain international transactions. The resolution of this issue through an APA led to the withdrawal of the appeal.

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, DELHI BENCH “I-2”: NEW DELHI

Before: SHRI R.K. PANDA & MS. ASTHA CHANDRA

For Appellant: Shri S. Chakarborty, Advocate
For Respondent: Shri Mahesh Shah, CIT- DR
Hearing: 02.05.2022

The appeal of the assessee is preferred against the order of Ld. ACIT, Circle 27(2), Delhi dated 19.07.2019 under section 143(3) read with section 144C(13) of the Income Tax Act, 1961 (“Act”) pertaining to the assessment year (“AY”) 2015-16.

2.

The Ld. AR for the assessee, vide letter dated 28.04.2022 has requested for withdrawal of the appeal on the ground that the assessee had filed an application for Unilateral Advance Pricing Agreement (“APA”) on 27.03.2018 in respect of all the international transactions undertaken by the assessee with its Associated Enterprises. The said APA covers the transactions pertaining to payment of royalty, payment of intra-group services and provision of support services which were disallowed by the Ld. TPO and upheld by the Ld. DRP/AO against which the assessee had preferred this appeal. The APA has been signed on 30.03.2022 and it covers the period from AY 2015-16 to AY 2022-23. A copy of the APA is also filed.

3.

The Ld. CIT (DR) has no objection for withdrawal of the appeal.

4.

In view of the above, we accept the request of the assessee for withdrawal of the appeal. Consequently, the appeal is dismissed as withdrawn.

5.

In the result, the appeal of the assessee is dismissed.

More judgments on Section 144C(13)

All 3,426 judgments and leading authorities on Section 144C(13) →

Recent GST High Court judgments

Search GST case law →