M/S NOVO NORDISK INDIA PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-5(1)(1), BANGALORE

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ITA 2715/BANG/2018Status: DisposedITAT Bangalore07 July 2020AY 2014-154 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 acknowledged the assessee's request for withdrawal of the appeal due to the APA. The departmental representative had no objection to the withdrawal.

What were the facts?

The assessee filed an appeal against an assessment order. Subsequently, the assessee entered into an Advance Pricing Agreement (APA) with the CBDT. The assessee then requested to withdraw the appeal.

What were the issues?

Whether an appeal can be withdrawn by the assessee after entering into an APA with the CBDT.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(13),Section 144C(5)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCHES “ C ” BENCH: BANGALORE

Before: SHRI A.K. GARODIA & SHRI PAVAN KUMAR GADALE

For Appellant: Shri Chavali Narayan, C.A
For Respondent: Shri Pradeep Kumar, CIT (D.R)
Hearing: 06.07.2020Pronounced: 07.07.2020

O R D E R

PER SHRI PAVAN KUMAR GADALE, JM :

1.

The assessee has filed an appeal against the assessment order passed u/s. 143(3) r.w.s. 144C(13) of the Income Tax Act, 1961 (the Act) Dt.30.07.2018 in pursuance to the directions of Dispute Resolution Panel under Section 144C(5) of the Act Dt.26.06.2018.

2 IT(TP)A No.2715/Bang/2018 2. We found the learned Authorized Representative of the assessee, has sent a letter for withdrawal of Appeal pursuant to signing of APA through e-mail dt.4.7.2020, in view of the assessee entering into Bilateral as well as Unilateral Advance Pricing Agreement(APA) with the CBDT on 26.06.2020, the copy of the letter is extracted as under :

3 IT(TP)A No.2715/Bang/2018

Contra, the learned departmental representative has no objection for the withdrawal of the appeal.

3.

We heard the rival submissions and perused the material on record. In view of submission of e-mail letter dt.4.7.2020 for withdrawal of appeal by the assessee, the appeal is treated as withdrawn and dismissed.

4 IT(TP)A No.2715/Bang/2018 4. In the result, appeal of the assessee is dismissed. Pronounced in the open court on the date mentioned on the caption page.

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