DONGFANG ELECTRIC CORPORATION,KOLKATA vs. ACIT (INTERNATIONAL TAXATION), CIRCLE - 1(1), KOLKATA, KOLKATA

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ITA 2568/KOL/2017Status: DisposedITAT Kolkata13 March 2020AY 2013-142 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 noted that the Assessing Officer had computed the total outstanding tax demand as Nil. The assessee wished to withdraw the appeal to buy peace in litigation. The Revenue raised no objection.

What were the facts?

The assessee, Dongfang Electric Corporation, filed an appeal against the assessment order for AY 2013-14. The assessee later filed an application to withdraw the appeal, stating that its projects were completed and operations in India were to be closed.

What were the issues?

The primary issue was the assessee's request to withdraw its appeal before the ITAT. The assessee also reserved the right to challenge the validity of the reference made to the Transfer Pricing Officer.

Which sections of the Income-tax Act were involved?

Section 144C(13),Section 143(3),Section 92CA(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘C’ BENCH, KOLKATA

Before: Sri J. Sudhakar Reddy & Sri S.S. Godara

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA (Before Sri J. Sudhakar Reddy, Accountant Member & Sri S.S. Godara, Judicial Member) Assessment Year: 2013-14 Dongfang Electric Corporation……………………………...............................……………………......Appellant Project office, CK-189 Sector-II, Salt Lake City Kolkata – 700 091 [PAN : AACCD 0559 L] Vs. Asstt. Commissioner of Income Tax (IT), Circle-1(1), Kolkata……..........................…....Appellant Appearances by: Ms. Neha Jhunjhunwala, CA, appeared on behalf of the assessee. Shri Vijay Shankar, CIT, D/R, appearing on behalf of the Revenue. Date of concluding the hearing : March 12th, 2020 Date of pronouncing the order : March 13th, 2020 ORDER Per J. Sudhakar Reddy, AM :-

This appeal filed by the assessee is directed against the order passed by the Assessing Officer u/s 144C(13) r.w.s. 143(3) of the Income Tax Act, 1961 (the ‘Act’), dt. 30/10/2017, for the Assessment Year 2013-14.

2.

The assessee has filed an application dated 11th March, 2020, which reads as under:- “This bears reference to the captioned appeal filed by Appellant before the Hon'ble Income Tax Appellate Tribunal ('Hon'ble ITAT') for AY 2013-14 on 29 December 2017 (copy of appeal documents is enclosed as Annexure 1). The said appeal filed by the appellant is arising out of final assessment order passed by the Learned Assessing Officer ['Ld. AO'] dated 30 October 2017 for AY 2013-14 (attached alongside as Annexure 2). We submit that captioned appeal of AY 2013-14 is fixed for hearing on 12 March 2020 before the Bench 'C'. The Appellant submits that the projects for which it was set up has been completed and hence, it is now required to close its operations in India. The Appellant also submits that as per final assessment order Id. AO has computed total outstanding tax demand as Nil. The Appellant wishes to submit that the Appellant is withdrawing this appeal to buy peace in litigation and reserves the right to challenge the validity of reference made by the Assessing Officer to the Transfer Pricing Officer in terms of section 92CA(1) of the Act at a later stage in accordance with the provisions of the law, if required. In view of the above, we request permission from the Hon'ble bench to withdraw our captioned appeal. We shall be highly obliged for this accommodation and regret any inconvenience caused.”

Assessment Year: 2013-14 Dongfang Electric Corporation Dongfang Electric Corporation 2.1. The ld. D/R raised no objection to this application of the assessee. Hence we ld. D/R raised no objection to this application of the assessee. Hence we ld. D/R raised no objection to this application of the assessee. Hence we dismiss this appeal of the assessee as withdrawn. dismiss this appeal of the assessee as withdrawn.

3.

In the result, appeal of the assessee is dismissed. In the result, appeal of the assessee is dismissed. Kolkata, the Kolkata, the 13th day of March, 2020. Sd/- Sd/- [S. S. Godara] [J. Sudhakar Reddy J. Sudhakar Reddy] Judicial Member Accountant Member Accountant Member Dated : 13.03.2020 {SC SPS} Copy of the order forwarded to:

1. 1. Dongfang Electric Corporation Dongfang Electric Corporation Project office, CK-189 Sector-II, Salt Lake City Kolkata – 700 091 2. Asstt. Commissioner of Income Tax (IT), Circle Asstt. Commissioner of Income Tax (IT), Circle-1(1), Kolkata 3. CIT(A)- 4. CIT- , 5. CIT(DR), Kolkata Benches, Kolkata.

5. CIT(DR), Kolkata Benches, Kolkata.

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