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

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.

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.

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.