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Income Tax Appellate Tribunal, “A” BENCH : BANGALORE
Before: SHRI CHANDRA POOJARI & SHRI PAVAN KUMAR GADALE
O R D E R Per Shri Chandra Poojari, Accountant Member
This appeal by assessee is directed against the final assessment order passed by the AO dated 29.08.2016 u/s. 143(3) r.w.s. 144C(13) of the IT Act, 1961 in consequence to the directions of the DRP u/s. 144C(5) of IT Act dated 29.06.2016.
At the time of hearing, AR submitted that assessee has entered into a Bilateral Advanced Pricing Agreement (“BAPA”) with the Central Board of Direct Taxes (“CBDT”) on 31.08.2018. The agreement is applicable to consecutive five years commencing from Previous Year 2015-16 to Previous Year 2019-20 (relevant to Assessment Years 2016-17 to 2020-21). Further the Agreement is IT(TP)A No. 1831/Bang/2016 Page 2 of 2 also applicable to consecutive four rollback years commencing from Previous Year 2011-12 to Previous Year 2014-15 (relevant to Assessment Years 2012-13 to 2015-16) for international transactions entered with the Associated Enterprises (“AEs”). Since the issues involved in this appeal are covered under the BAPA, the assessee sought permission to withdraw this appeal. Considering the request of ld. AR, we are inclined to dismiss the appeal of the assessee as not pressed. Hence the appeal of the assessee is dismissed as withdrawn.
In the result, the appeal filed by the assessee is dismissed.
Order pronounced in the open court on the date mentioned on the caption page.