Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, “K” BENCH, MUMBAI
Before: SHRI SAKTIJIT DEY & SHRI RAJESH KUMAR
This is an appeal by the assessee against assessment order passed under section 143(3) r/w section 144C of the Income Tax Act, 1961 (for short “the Act”), in pursuance to the directions of the Dispute Resolution Panel, for the assessment year 2010–11.
The grounds raised by the assessee pertain to transfer pricing adjustment made by the Transfer Pricing Officer. The assessee, through, one of its directors Shri Pawan Kumar Khandelwal, has filed
2 BT Global Communications India Pvt. Ltd. letter dated 26th February 2018 in the Registry stating that the assessee has filed an application under Article 27 of the India–U.K. Double Taxations Avoidance Agreement (DTAA) for initiation of Mutual Agreement Procedure (MAP) before the Indian and U.K. competent authorities with respect to the issues raised in the appeal before the Tribunal. It is stated by the assessee that a resolution has been arrived at between the Indian and U.K. competent authorities on the issues raised in the present appeal, in terms of Article 27 of the India– U.K. DTAA, which has been accepted by the assessee as per letter of acceptance dated 15th February 2018. Further, it is stated, as per rule 44H of the Income Tax Rules, 1962, orders giving effect to MAP resolution can be passed by the Assessing Officer once all the appeals are withdrawn by the assessee on the issues resolved under MAP. Thus, it is stated by the assessee, for the aforesaid reasons, the assessee seeks withdrawal of the present appeal in entirety.
The learned Departmental Representative has no objection with regard to the withdrawal appeal by the assessee. In view of the above, we permit the assessee to withdraw the present appeal on the basis of the reasons stated in the letter referred to above. Accordingly, the appeal filed by the assessee is dismissed as withdrawn.
3 BT Global Communications India Pvt. Ltd.
In the result, assessee’s appeal is dismissed. Order pronounced in the open Court on 26.04.2018