MGB METRO GROUP BUYING HK LTD. - INDIA LIAISON OFFICE (GEMEX TRADING LTD.),GURGAON vs. ACIT, CIRCLE- 1(2), INTL. TAXATION, NEW DELHI

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ITA 5840/DEL/2017Status: DisposedITAT Delhi30 September 2021AY 2001-022 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 allowed the assessee's request to withdraw the appeals. The appeals were dismissed as withdrawn based on the assessee's submission that they do not wish to continue the litigation.

What were the facts?

The assessee company had set up a Liaison Office in India and had deposited the tax liability, interest, and penalties. The company has since closed its business operations in India and wishes to withdraw its appeals.

What were the issues?

The primary issue was whether the assessee should be allowed to withdraw its appeals due to closure of business and cessation of litigation interest.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI “D” BENCH: NEW DELHI

Before: SHRI KUL BHARAT & SHRI O.P.KANT

Hearing: 30.09.2021Pronounced: 30.09.2021

ORDER PER KUL BHARAT, JM :

These appeals filed by the assessee pertaining to assessment years 2001-02, 2004-05, 2005-06 are directed against the separate orders of Ld. CIT(A)-XI, New Delhi, all dated 01.02.2013 respectively.

2.

Facts giving rise to the present appeals are that the assessee company had set up a Liaison Office (“LO”) in India pursuant to RBI’s approval dated 27.02.2004. Ld. Counsel for the assessee submitted that the assessee company had deposited the tax liability including interest as determined in the Assessment order. Further, the assessee company had also paid the penalty levied pursuant to the additions made in the assessment order. Ld. Counsel for the assessee further submitted that the assessee company has already closed , 5843 & 5844/Del/2017 Assessment Years : 2001-02, 2004-05, 2005-06 its business operations in India w.e.f. 30.04.2018 and was in the process of obtaining suitable approvals for closure of the LO registration as well.

Therefore, the assessee company does not wish to continue any litigation or appeal in India.

3.

In view of the above submissions made by the Ld. Counsel for the assessee, coupled with letter by the authorized signatory i.e. Director of the assessee company seeking permission to withdraw the appeals. We hereby, dismiss these appeals as withdrawn.

4.

In the result, the appeals of the assessee are dismissed as withdrawn.

Above decision was pronounced on conclusion of Virtual Hearing on 30th September, 2021.

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