MAX NEW YORK LIFE INSURANCE COMPANY LTD. vs. ASSISTANT COMMISSIONER OF INCOME TAX
What did the High Court hold?
The High Court of Delhi ordered accordingly, acknowledging the appellant's submission that they did not wish to press the appeals further due to no additions being made. The court agreed to keep the questions of law open to be addressed in appropriate proceedings. This means the appeals were not decided on their merits, and the operative direction was to dispose of the appeals as per the appellant's request, preserving their right to raise the legal issues later. No specific findings on the merits of the transfer pricing issues were made by the High Court.
What were the facts?
The appeals were filed by Max Life Insurance Company Limited (formerly Max New York Life Insurance Co. Ltd.) against orders passed by the Income Tax Appellate Tribunal (ITAT). The ITAT had remitted the matters to the Transfer Pricing Officer (TPO). The appellant, however, stated that since no additions had been made, they did not wish to press the appeals further. The appeals were filed before the High Court of Delhi.
What were the issues?
1. Whether the appeals are to be decided on merits or disposed of as withdrawn, given the appellant's submission that no additions have been made and they do not wish to press the appeals further, subject to keeping the questions of law open. Assessee's Contention: The appellant submits that although the ITAT remitted the matter to the TPO, no additions have been made. Therefore, the appellant chooses not to press these appeals any further. They request that the questions of law sought to be urged be kept open to be addressed in appropriate proceedings. Revenue's Contention: The judgment does not record any specific contentions from the revenue regarding the disposal of the appeals, other than their presence through counsel.
AI-generated summary — verify with the full judgment below
Cause title — parties, addresses and appearances
This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 28/01/2025 at 14:25:55
O R D E R %
2025
Mr. Nagi, learned counsel for the appellant, submits that although the Income Tax Appellate Tribunal had remitted the matter to the Transfer Pricing Officer, since no additions have been made, the appellant chooses not to press these appeals any further, subject to the questions of law which were sought to be urged being kept open to be addressed in appropriate proceedings. Ordered accordingly.
YASHWANT VARMA, J.
HARISH VAIDYANATHAN SHANKAR, J. JANUARY 24, 2025/RW This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 28/01/2025 at 14:25:55
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