M/S.R1 INTERNATIONAL (INDIA) PRIVATE LIMITED vs. DEPUTY COMMISSIONER OF INCOME-TAX, BANGALORE

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ITA 1825/BANG/2016Status: DisposedITAT Bangalore18 September 2019AY 2011-124 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The revenue withdrew its appeal due to the low tax effect, and consequently, the assessee also chose not to press its appeal. Both appeals were dismissed as withdrawn.

What were the facts?

The assessee and the revenue filed cross-appeals against the order of the CIT(A) concerning a transfer pricing adjustment. The tax effect in the revenue's appeal was below the threshold specified in a CBDT circular.

What were the issues?

The primary issue was the transfer pricing adjustment made by the TPO, which was partially deleted by the CIT(A). The appeals were withdrawn due to administrative reasons related to tax effect.

Which sections of the Income-tax Act were involved?

Not specified

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B’’ BENCH : BANGALORE

Before: SHRI B.R BASKARAN & SMT. BEENA PILLAI

For Appellant: Shri Tata Krishna, Advocate
For Respondent: Shri Vinod Sharma, JCIT (DR)
Hearing: 18.09.2019Pronounced: 18.09.2019

O R D E R Per Bench:-

These cross appeals are directed against the order dated 26/8/2016 passed by ld CIT(A)-5 Bengaluru and they relate to the asst. year 2011-12.

IT(TP)A Nos.1825 & 2316/Bang/2016

2.

The transfer pricing adjustment of Rs.99.92 lakhs made by the TPO, having been partially deleted by the ld CIT(A), both the parties are in appeal before us.

3.

At the time of hearing, the ld DR submitted that the tax effect involved in the appeal filed by the Revenue is less than 50 lakhs. Accordingly he submitted that the Revenue is withdrawing the appeal in view of Circular No. Circular No.17/2019 dated 8/8/2019 issued by Central Board of Direct Taxes, which has been clarified by CBDT as applicable to all pending appeals, vide its Instruction dated 20/8/2019.

4.

Since, Revenue’s appeal has been withdrawn on account of tax effect, the ld AR submitted the assessee is also not pressing the appeal filed by it.

5.

In view of the above both the appeals are dismissed as withdrawn.

Order pronounced in the Open Court on 18th September, 2019.

Sd/- Sd/- (Beena Pillai) (B.R Baskaran) Judicial Member Accountant Member Bangalore, Dated, 18th September, 2019. / vms /

IT(TP)A Nos.1825 & 2316/Bang/2016

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