CITIZEN WATCHES (INDIA) PVT. LTD.,BANGALORE vs. DCIT, BANGALORE

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ITA 287/BANG/2016Status: DisposedITAT Bangalore28 February 2020AY 2011-122 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. This was based on the assessee entering into a Unilateral APA with the CBDT for the relevant assessment years.

What were the facts?

The assessee filed appeals against assessment orders for AY 2011-12 and 2013-14. The assessee later requested to withdraw these appeals.

What were the issues?

Whether the assessee can withdraw appeals after entering into an Advance Pricing Agreement (APA).

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C,Section 92CC

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH : BANGALORE

Before: SHRI A. K. GARODIA & SMT. BEENA PILLAI

For Appellant: Smt. Vidya, CA
For Respondent: Shri. Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru
Hearing: 04.02.2020Pronounced: 28.02.2020

IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER IT(TP)A Nos.287/Bang/2016 and 2823/Bang/2017 Assessment years : 2011-12, 2013-14 M/s. Citizen Watches (India) Deputy Commissioner of Income Tax, Private Limited, Circle-2(1)(1), No.299, Sai Orchid, 6th Main, HAL Vs. Bengaluru. 2nd Stage, Indiranagar, Bengaluru-560038. PAN : AAACC 4712 A APPELLANT RESPONDENT Assessee by : Smt. Vidya, CA Revenue by : Shri. Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru Date of hearing : 04.02.2020 Date of Pronouncement : 28.02.2020 O R D E R Per A.K. Garodia, Accountant Member Both these appeals are filed by the assessee and these are directed against two separate assessment orders passed by the AO under section 143(3) r.w.s. 144C of the Income Tax Act, 1961 on 18.01.2016 for Assessment Year 2011-12 and on 27.102.2017 for Assessment Year 2013-14. Both these appeals were heard together and are being disposed of by way of this common order for the sake of convenience.

2.

In course of hearing it was pointed by learned AR of the assessee that the assessee has submitted two separate letters before the Registry of this Tribunal on 29.01.2020 in which, it is submitted by the Managing Director of IT(TP)A Nos.287/Bang/2016 and 2823/Bang/2017 Page 2 of 2 the assessee company that the assessee wants to withdraw the grounds of appeal filed on 29.02.2016 for Assessment Year 2011-12 and filed on 22.12.2017 for Assessment Year 2013-14 because the assessee has entered into a Unilateral APA with the Central Board of Direct Taxes under section 92CC of the Income Tax Act, 1961 and the assessee has also enclosed a copy of the said agreement for both the years.

3.

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

Pronounced in the open court on the date mentioned on the caption page.

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