AON SPECIALIST SERVICES PRIVATE LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD - 1(1)(3), BANGALORE

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ITA 534/BANG/2017Status: DisposedITAT Bangalore22 September 20172 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 assessee stated that they no longer wished to press the grounds of appeal and intended to withdraw the same. The Revenue had no objection to this request.

What were the facts?

The assessee filed an appeal against the order passed by the AO consequent to the DRP's directions. The AO, while rectifying the assessment order under section 154, made a transfer pricing adjustment that resulted in a nil demand.

What were the issues?

Whether the assessee's appeal should be dismissed as withdrawn due to the rectification order resulting in a nil demand.

Which sections of the Income-tax Act were involved?

Section 154

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ BENCH, BANGALORE

Before: SHRI. SUNIL KUMAR YADAV & SHRI A. K. GARODIA

For Appellant: Shri. Sandeep Hailgoul, Advocate
For Respondent: Shri. Sanjay Kumar, CIT-DR
Hearing: 21/09/2017Pronounced: 22/09/2017

This appeal is preferred by the assessee against the order passed consequent to the order of the DRP on various grounds. During the course of hearing, the learned counsel for the assessee has appeared and made a statement that AO while passing an order under section 154 of the Act, rectifying its final assessment order to give full effect of DRP’s directions, the final assessment order determining the Transfer Pricing adjustment resulting into a Nil demand. Therefore, assessee does not want to press the grounds raised in his appeal and intends to withdraw the same.

IT(TP)A No. 534/Bang/2017 Page 2 of 2 2. The learned DR has no objection to the request of the withdrawal of the assessee. According appeal of the assessee is dismissed as withdrawn.

3 . In the result, appeal of the assessee is dismissed as withdrawn.

Order pronounced in the open court on this 22nd September, 2017.

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