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1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU
ON THE 27TH DAY OF NOVEMBER, 2018
BEFORE
THE HON'BLE MR. JUSTICE RAVI MALIMATH
AND
THE HON’BLE MR. JUSTICE K.NATARAJAN
INCOME TAX APPEAL NO.628 OF 2016 AND INCOME TAX APPEAL NO.1073 OF 2017
BETWEEN:
M/S MERCEDES BENZ RESEARCH AND DEVELOPMENT INDIA PRIVATE LIMITED (A PRIVATE COMPANY LIMITED BY SHARES INCORPORATED UNDER THE COMPANIES ACT, 1956) HAVING ITS OFFICES AT: WHITEFIELD PALMS PLOT NO.9 AND 10 EPIP ZONE, PHASE 1 WHITEFIELD ROAD BENGALURU-560066
... APPELLANT
(BY SRI:K.MALLAHA RAO AND SRI:NAGESHWAR RAO, ADVOCATES)
2 AND:
DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-2(1) BENGALURU
... RESPONDENT
(BY SRI:K.V.ARAVIND, ADVOCATE)
THESE INCOME TAX APPEALS ARE FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 27/07/2016 PASSED IN IT(TP)A NO.1364/BANG/2013 AND IN IT(TP)A NO.1393/BANG/2013, FOR THE ASSESSMENT YEAR 2005- 2006, ANNEXURE-A PRAYING THIS HON'BLE COURT TO: (I) ADMIT THE INSTANT APPEAL TO ANSWER THE SUBSTANTIAL QUESTIONS OF LAW SET OUT IN PARA 24 ABOVE; (II) SET ASIDE THE IMPUGNED ORDER AT ANNEXURE 'A' PASSED BY THE INCOME TAX APPELLATE TRIBUNAL TO THE EXTENT IT REJECTS APPELLANT'S APPROACH TO ECONOMIC ANALYSIS AND UPHOLDS SELECTION OF TRANSACTIONAL NET MARGIN METHOD ("TNMM") BY TPO AS MOST APPROPRIATE METHOD ("MAM") IN IT(TP)A NO.1364/BANG/2013 ["APPELLANT- ASSESSE'S APPEAL"] AND IN IT(TP)A NO.1393/BANG/2013 [RESPONDENT/ ASSESSING OFFICER'S APPEAL"] BEFORE THE TRIBUNAL FOR ASSESSMENT YEAR 2005-06, DATED27/07/2016 AND (III) PASS SUCH FURTHER AND OTHER ORDERS IN FAVOUR OF THE APPELLANT AS THIS HON'BLE COURT MAY DEEM FIT TO GRANT IN THE FACTS AND CIRCUMSTANCES OF THE CASE, AND IN THE INTEREST OF JUSTICE AND EQUITY.
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3 THESE INCOME TAX APPEALS COMING ON FOR HEARING THIS DAY, RAVI MALIMATH J., DELIVERED THE FOLLOWING:
JUDGMENT
In view of the memo filed in the Court today, the appeals are dismissed as withdrawn.
SD/-
SD/- JUDGE
JUDGE
*bgn/-