CLARIANT CHEMICALS (INDIA) LTD,THANE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(1), MUMBAI

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ITA 82/MUM/2018Status: DisposedITAT Mumbai03 November 2022AY 2012-132 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 assessee requested to withdraw the appeal due to the resolution reached. The Department did not object to the withdrawal.

What were the facts?

The assessee filed an appeal against an order passed by the Dy. Commissioner of Income-tax. A resolution was subsequently reached under the Mutual Agreement Procedure as per Article 25 of the India-Singapore Double Taxation Avoidance Agreement.

What were the issues?

Whether the assessee can withdraw its appeal after reaching a resolution under the Mutual Agreement Procedure.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “K” BENCH, MUMBAI

Before: SHRI AMIT SHUKLA, HONBLE & SHRI GAGAN GOYAL, HONBLE

For Appellant: Ms. Swati Patel
For Respondent: Dr. Yogesh Kamat
Hearing: 03.11.2022Pronounced: 03.11.2022

O R D E R PER AMIT SHUKLA (JM) :

The aforesaid appeal has been filed by assessee against order dated 31.10.2017 passed by Learned Dy. Commissioner of Income- tax-1(1)(1), Mumbai u/s 143(3) r.w.s 144C of the Income Tax Act, 1961 (in short „the Act‟) in pursuance of the directions of the Dispute Resolution Panel dated 22.09.2017 for Assessment Year 2012-13.

Clariant Chemicals (India) Ltd.

2.

At the outset, ld. Counsel for assessee stated that the assessee has filed letter dated 02.11.2022 requesting to withdraw the appeal as a resolution has been reached under the Mutual Agreement Procedure as per Article 25 of India-Singapore Double Taxation Avoidance Agreement. She requested that the assessee may be allowed to withdraw its appeal. The ld. DR did not raise any objection to the withdrawal of appeal by the assessee. Hence, the appeal of assessee is dismissed as withdrawn.

4.

In the result, appeal of the assessee is dismissed as withdrawn.

Order pronounced in the open court on 3.11.2022.

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