24/7 CUSTOMER PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-2(1)(1), BANGALORE
In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.
What did the Tribunal hold?
The Tribunal allowed the assessee's request to withdraw the appeal. Consequently, the grounds raised by the assessee were dismissed as withdrawn.
What were the facts?
The assessee filed an appeal against the final assessment order. The assessee later filed a letter to withdraw the appeal due to a mutual agreement procedure reached with the US competent authority regarding transfer pricing adjustments.
What were the issues?
The primary issue was whether the assessee's appeal could be withdrawn based on a mutual agreement procedure concerning transfer pricing adjustments.
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, BANGALORE BENCHES : “A” BENCH : BANGALORE
Before: SHRI. B. R. BASKARAN & SMT. BEENA PILLAI
ORDER
PER BEENA PILLAI, JUDICIAL MEMBER :
Present appeal has been filed by assessee against the final assessment order dated 05/01/17 passed by Ld. ACIT circle 2 (1) (1), Bangalore.
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