TECHNICOLOR INDIA PRIVATE LIMTIED ,BANGALORE vs. DCIT, CIRCLE-7(1)(1), BANGALORE

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ITTPA 2531/BANG/2024Status: DisposedITAT Bangalore20 January 2026AY 2021-223 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 held that the appeal is not maintainable. The reasoning was based on the confirmed facts that the Assessee company has closed its operations in India and its ultimate holding company has undergone liquidation. The Tribunal found no mechanism to ascertain the current whereabouts of the Assessee company. Consequently, the Tribunal found no infirmity in the order of the Assessing Officer and the direction of the Dispute Resolution Panel, even on merits, due to the absence of any details from the Assessee. The operative direction was to dismiss the appeal. The Tribunal granted liberty to the Assessee to make a necessary application for recall of the order if circumstances change and they wish to pursue the appeal, subject to provisions of law.

What were the facts?

M/s. Technicolor India Private Limited (the Assessee) filed an appeal before the Income Tax Appellate Tribunal (ITAT) challenging the final Assessment Order dated 28.10.2024, passed by the Assessment Unit (AO) under section 143(3) r.w.s. 144C(13) and 144B of the Income Tax Act, 1961. The AO determined the total income at Rs. 99,41,34,430/- against the returned income of Rs. 63,50,28,170/- for Assessment Year 2021-22. This order was passed pursuant to directions from the ACIT Transfer Pricing Officer (TPO) and the Dispute Resolution Panel (DRP). The Assessee is an Indian subsidiary of a foreign company, M/s. Technicolor SA, France, which has since closed globally. The Assessee has also ceased its operations in India. Despite multiple notices, no representative appeared for the Assessee.

What were the issues?

1. Whether the appeal is maintainable in light of the Assessee company having closed its operations in India and its parent company undergoing liquidation. (Mixed question of law and fact, turning on the procedural aspects of appeal maintainability and the status of the corporate entity). Assessee's contentions: Not recorded as none appeared. Revenue's contentions: Not recorded as the Tribunal proceeded based on the facts ascertained by it. However, the Tribunal noted that the Assessee company has closed its operations in India and its parent company is undergoing liquidation.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(13),Section 144B,Section 92CA

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C’ BENCH : BANGALORE

Before: SHRI PRASHANT MAHARISHI, VICE – & SHRI KESHAV DUBEY

For Appellant: Dr. Divya K., J - CIT

IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI PRASHANT MAHARISHI, VICE – PRESIDENT AND SHRI KESHAV DUBEY, JUDICIAL MEMBER IT(TP)A No. 2531/Bang/2024 Assessment Year : 2021-22 M/s. Technicolor India Private Limited, The Deputy Commissioner Level 9, Navigator, of Income Tax, International Tech Park, Circle – 7(1)(1), Vs. Whitefield, Bengaluru, Bengaluru – 560 095 Karnataka – 560066. PAN: AACCT0862G APPELLANT RESPONDENT

Assessee by : None : Dr. Divya K., J - CIT Revenue by

Date of Hearing : 20-01-2026 Date of Pronouncement : 20-01-2026

ORDER PER PRASHANT MAHARISHI, VICE – PRESIDENT 1. IT(TP)A No 2531/Bang/2024 is filed by M/s. Technicolor India Private Limited (the Assessee/Appellant) against the final Assessment Order passed by the Assessment Unit, Income Tax Department (the AO) u/s. 143(3) r.w.s. 144C(13) and 144B of the Income Tax Act, 1961 (the Act) dated 28.10.2024 determining the total income at Rs. 99,41,34,430/-against the returned income of Rs. 63,50,28,170/- for Assessment Year 2021-22 passed in pursuance of the order u/s. 92CA passed by the ACIT Transfer Pricing 2(2)(2), Bengaluru (the Ld.

IT(TP)A No. 2531/Bang/2024 Page 2 of 3 TPO) and the direction of the Ld. Dispute Resolution Panel-2, Bengaluru.

2.

Despite several noticesbeing issued, none appeared on behalf of the Assessee. The Ld. CIT-DR submitted that Assessee is an Indian Private Limited Company which is a subsidiary of M/s. Technicolor Asia Pacific Holdings Private Limited and where the ultimate holding company is M/s. Technicolor SA, France. This company is closed globally.

3.

On our verification of the details, it was found that the Assessee has closed its operations in India. Further at phone no. given in Form No. 36, the bench clerk was also directed to verify the fact wherein it was also stated that it belongs to an employee who has already left and the company is closed.

4.

In view of this we do not have any alternative but to hold that this company has left and there is no mechanism available with us to find out whereabouts of this company at present.

5.

We also find that the addition is with respect to the transfer pricing adjustment of Rs. 35,88,06,263/- on account of international transaction of VFX segment, management fee and interest on delayed receivables. There is also an addition of Rs. 3,00,000/- being difference in Form No. 26AS and turnover shown by the Assessee.

6.

Even on the merit, in absence of any detail, we do not find any infirmity in the order of the Ld. Assessing Officer and the direction of the Ld. Dispute Resolution Panel.

7.

In view of the above facts where we find that the parent company of the Assessee Indian Company has undergone the liquidation, the Indian Company has also closed the operation in India, and it is not

IT(TP)A No. 2531/Bang/2024 Page 3 of 3 available where it is to be communicated. In view of this, we find that the Appeal is not maintainable at all. Hence dismissed.

8.

Further, we give liberty that as and when Assessee undergoes changes in the facts and circumstances and wishes to pursue the above appeal, necessary application for recall of the above order may be made, which may be recalled subject to provisions of law.

Order pronounced in the open court on 20th January, 2026.

Sd/- Sd/- (KESHAV DUBEY) (PRASHANT MAHARISHI) JUDICIAL MEMBER VICE-PRESIDENT Bangalore, Dated, the 20th January, 2026. *TNTS* Copy to: 1. Appellant 2. Respondent 3. CIT 4. DR, ITAT, Bangalore 5. CIT(A) By order

Assistant Registrar, ITAT, Bangalore

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