PR.COMMISSIONER OF INCOME TAX-7 vs. M/S WM GLOBAL TECHNOLOGY SERVICES (INDIA) P.LTD

ITA/102/2020HC KarnatakaKAHC01022294202016 September 2021Bench: S.SUJATHA,RAVI V HOSMANI2 pages

AI SummaryDismissed

What did the High Court hold?

The Tribunal noted that the respondent-assessee had filed a memo stating that the transfer pricing adjustment, which is the subject matter of the appeal, has been settled under the Direct Tax Vivad se Vishwas Act, 2020. Consequently, the appeal no longer survives for consideration. The learned counsel for the Revenue did not dispute this submission. Therefore, the Tribunal held that the appeal has rendered infructuous. The operative direction was that the appeal stands dismissed as having rendered infructuous, with liberty granted to the Revenue to revive the appeal if necessary. No specific finding was made on the merits of the transfer pricing adjustment itself.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax-7 and the Assistant Commissioner of Income Tax, Bengaluru (Revenue) against M/s. WM Global Technology Services (India) P.L.td (assessee). The appeal arose out of an order dated 31.10.2019 passed in IT(TP)A No.1963/BANG/2017 for the Assessment Year 2013-2014. The subject matter of the appeal was a transfer pricing adjustment. The Revenue filed the appeal under Section 260A of the Income-Tax Act, 1961.

What were the issues?

The Tribunal had to decide whether the appeal filed by the Revenue survives for consideration. The Revenue contended that the matter concerning transfer pricing adjustment has been settled under the Direct Tax Vivad se Vishwas Act, 2020, rendering the appeal infructuous. The assessee's counsel filed a memo to this effect. The Revenue did not dispute this submission.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 16TH DAY OF SEPTEMBER, 2021 PRESENT THE HON’BLE MRS. JUSTICE S. SUJATHA AND THE HON’BLE MR. JUSTICE RAVI V. HOSMANI I.T.A. No.102/2020 BETWEEN: 1. PR.COMMISSIONER OF INCOME TAX-7, BMTC COMPLEX, KORAMANGALA, BANGALORE. 2. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -7(1)(2), BENGALURU

…APPELLANTS (BY SRI. SANMATHI E.I., ADVOCATE) AND: M/S. WM GLOBAL TECHNOLOGY SERVICES (INDIA) P.LTD 3RD FLOOR, BLOCK, B, SALAPURIA TOUCHSTONE, 15/1A, 14P7, KADUBEESANAHALLI ORR BENGALURU, PAN: AABCW1354K

… RESPONDENT (BY MISS. MAHIMA GOUD, FOR SRI. SURYANARAYANA T, ADVOCATES)

THIS APPEAL IS FILED UNDER SECTION 260A OF THE INCOME-TAX ACT, 1961, ARISING OUT OF ORDER DATED 31.10.2019 PASSED IN IT(TP)A NO.1963/BANG/2017, FOR THE ASSESSMENT YEAR 2013-2014 AND ETC.,

THIS APPEAL COMING ON FOR FINAL HEARING, THIS DAY, S.SUJATHA J., DELIVERED THE FOLLOWING: JUDGMENT Learned counsel for the respondent-assessee has filed a memo submitting that ‘transfer pricing adjustment’, the subject matter in this appeal, is settled under the Direct Tax Vivad se Vishwas Act, 2020 and consequently this appeal does not survive for consideration.

The said memo is placed on record.

The same is not disputed by the learned counsel appearing for the Revenue.

Accordingly, appeal stands dismissed as having rendered infructuous with liberty to the Revenue to revive the appeal if necessary.

Sd/- JUDGE Sd/- JUDGE Psg*

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