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Income Tax Appellate Tribunal, “B’’ BENCH : BANGALORE
Before: SHRI B.R BASKARAN & SMT. BEENA PILLAI
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
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.
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.
Since, Revenue’s appeal has been withdrawn on account of tax effect, the ld AR submitted the assessee is also not pressing the appeal filed by it.
In view of the above both the appeals are dismissed as withdrawn.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