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

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ITA 470/BANG/2016Status: DisposedITAT Bangalore31 August 2020AY 2011-122 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the revenue's appeal had become infructuous because the transfer pricing issues raised in the appeal were settled by the APA. Consequently, the appeal was dismissed.

What were the facts?

The revenue filed an appeal against the final order of assessment for AY 2011-12. The assessee had previously filed an appeal challenging transfer pricing additions, which was withdrawn after entering into an Unilateral Advanced Pricing Arrangement (APA) with the CBDT.

What were the issues?

Whether the revenue's appeal concerning transfer pricing issues is maintainable when those issues have been settled by an APA.

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, “B” BENCH : BANGALORE

Before: SHRI N V VASUDEVAN & SHRI G MANJUNATHA

For Appellant: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru
For Respondent: Shri K.R. Vasudevan, Advocate
Hearing: 19.08.2020Pronounced: 31.08.2020

Per N.V. Vasudevan, Vice President

1.

This appeal by the revenue is against the final order of assessment dated 18.01.2016 passed u/s. 143(3) r.w.s. 144C of the Income-tax Act, 1961 [the Act] by the DCIT, Circle 2(1)(1), Bangalore.

2.

At the time of hearing of this appeal, the ld. counsel for the assessee brought to our notice that as against the very same order of the AO, the assessee company had filed appeal before this Tribunal and IT(TP)A No.287/Bang/2016. He also pointed out that in view of the Unilateral Advanced Pricing Arrangement [APA] between the assessee and the CBDT with reference to the TP issues for AY 2011-12, the assessee withdrew its appeal with reference to the grounds challenging the Transfer Pricing [TP] addition. The Tribunal dismissed the appeal of assessee by its order dated 28.02.2020. A copy of the APA has also been filed before us. In this appeal by the revenue, the grounds are with reference to TP issues which have been settled in the APA.

3.

In view of the above, we are of the view that the appeal of the revenue has become infructuous and accordingly the same is dismissed as infructuous.

Pronounced in the open court on this 31st day of August, 2020.

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