A.C.I.T.,CIRCLE-2(1), KOLKATA vs. M/S PRICEWARERHOUSECOOPERS SERVICE DELIVERY CENTRE (KOLKATA) PRIVATE LIMITED , KOLKATA

At the time of hearing, the ld. Counsel for the assessee submitted that an Unilateral Advance Pricing Agreement (UAPA) has been entered into by the assessee with Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, on 3rd December, 2019 and hence the revenue is bound to withdraw this appeal.

The ld. D/R sought time of one week to verify this statement of the assessee.

After hearing rival contentions, we find that the assessee has filed a copy of the UAPA u/s 92CC of the Act dt. 3rd December, 2019, entered into with CBDT. Page 5 para 2 & 3 of the agreement is extracted for ready reference:-

The term of Agreement The term of Agreement The Agreement shall apply in respect to five consecutive years The Agreement shall apply in respect to five consecutive years The Agreement shall apply in respect to five consecutive years commencing from previous year 2017- -18 to previous year 2021-22 (relevant to assessment years 2018 22 (relevant to assessment years 2018-19 to 2022-23 {hereinafter referred to as “APA Years”} 23 {hereinafter referred to as “APA Years”} The Agreement shall also apply to consecutive four previous years that is, previous The Agreement shall also apply to consecutive four previous years that is, previous The Agreement shall also apply to consecutive four previous years that is, previous year 2013-14 to previous year 2016 evious year 2016-17 (relevant to assessment years 2014 17 (relevant to assessment years 2014-15 to 2017- 18) {hereinafter referred to as “Rollback Years”} 18) {hereinafter referred to as “Rollback Years”} 3. Covered Transactions Covered Transactions The international transactions between the Applicant and its AEs of: The international transactions between the Applicant and its AEs of: The international transactions between the Applicant and its AEs of: (i) Rendering of information technology enabled s Rendering of information technology enabled support service (hereinafter upport service (hereinafter referred to as ‘ITES’)); referred to as ‘ITES’)); (ii) Receipt of services from AE related to the transaction mentioned in item (i) Receipt of services from AE related to the transaction mentioned in item (i) Receipt of services from AE related to the transaction mentioned in item (i) above; and (iii) Reimbursement and recovery of expenses related to item (i) above; Reimbursement and recovery of expenses related to item (i) above; Reimbursement and recovery of expenses related to item (i) above; Shall be the covered transactions for the Agreement and this Agreement shall apply to Shall be the covered transactions for the Agreement and this Agreement shall apply to Shall be the covered transactions for the Agreement and this Agreement shall apply to these international transactions. The AEs with whom the Applicant shall enter into these international transactions. The AEs with whom the Applicant shall enter into these international transactions. The AEs with whom the Applicant shall enter into these international transactions are detailed in Appendix I(a).” these international transactions are detailed in Appendix I(a).”

This Bench has granted granted one week time to the ld. D/R to respond to the one week time to the ld. D/R to respond to the submissions of the assessee. submissions of the assessee. As no adverse submissions have been made by the ld. D/R made by the ld. D/R to controvert the arguments of the ld. Counsel for the assessee, to controvert the arguments of the ld. Counsel for the assessee, till date and as on till date and as on perusal of the copy of the UAPA perusal of the copy of the UAPA, we are convinced that the revenue is required to , we are convinced that the revenue is required to withdraw this appeal, we dismiss this appeal as withdrawn. withdraw this appeal, we dismiss this appeal as withdrawn.

In the result, appeal of the revenue is dismissed. In the result, appeal of the revenue is dismissed. Kolkata, the Kolkata, the 19th day of August, 2020.