M/S.SYMBOL TECHNOLOGIES INDIA PVT.LTD.,BANGALORE vs. DCIT- CIRCLE-6(1)(2), BANGALORE

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ITA 2006/BANG/2016Status: DisposedITAT Bangalore30 March 2017AY 2012-132 pages
AI SummaryDismissed

What did the Tribunal hold?

The assessee requested to withdraw the appeal due to the APA. The Tribunal allowed the withdrawal and consequently dismissed the appeal.

What were the facts?

The assessee filed an appeal against an order passed under Section 143(3) r.w.s. 144C(13) of the Income Tax Act for AY 2012-13. The assessee later entered into a unilateral Advance Price Agreement (APA) with the CBDT.

What were the issues?

The primary issue was the assessee's request to withdraw the appeal after entering into an Advance Price Agreement.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(13)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCH ‘ B ’

Before: SHRI VIJAY PAL RAO & SHRI INTURI RAMA RAO

For Appellant: Shri Umashankar Gautam, Advocate

Per Shri Vijay Pal Rao, J.M. : This appeal by the assessee is directed against the order dt.20.09.2016 passed under Section 143(3) r.w.s. 144C(13) of the Income Tax Act, 1961 (in short 'the Act') in pursuant to the directions of Dispute Resolution Panel (DRP) dt.31.8.2016 for the Assessment Year 2012-13.

1.

2 IT(TP)A No.2006/Bang/2016 2. At the time of hearing, the learned Authorised Representative of the assessee has stated at Bar that the assessee has entered into unilateral Advance Price Agreement (‘APA’) on 17.1.2017 with the CBDT. Therefore the assessee does not press the present appeal and requested for withdrawal of the appeal. The assessee has also filed an application dt.28.3.2017 seeking withdrawal of the present appeal. Accordingly, in view of the APA and request of the assessee, the appeal of the assessee is allowed to withdraw the rpesent appeal and consequently the appeal is dismissed being withdrawn.

3.

In the result, the appeal of the assessee is dismissed as withdrawn.

Order pronounced in the open court on the 30th Day of Mar.,2017.

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