What did the Tribunal hold?

The Tribunal permitted the assessee to withdraw its appeal as the issues were covered by the APA. The revenue did not object to the withdrawal.

The assessee filed an appeal for Assessment Year 2011-12. Subsequently, the assessee entered into an Advance Pricing Agreement (APA) with the CBDT, which covered the assessment year in question due to a rollback mechanism.

What were the issues?

Whether an appeal pending before the Tribunal should be withdrawn when the issues are covered by a finalized Advance Pricing Agreement (APA) under the rollback mechanism.

ITO vs M/S Acclaris Business Solutions… | ITAT Kolkata 2017

Income Tax Appellate Tribunal, “C” BENCH : KOLKATA

Before: Hon’ble Sri N.V.Vasudevan, JM & Shri M.Balaganesh, AM ]

Heard together (2 matters)

I.T.A No. 1397/Kol/2015

I.T.A No.39/Kol/2016

Read from the judgment's own cause title. This page is filed under one of them.

These appeals of the assessee and the revenue arise out of the order of the Dispute Resolution Panel-2, New Delhi in F.No.DRP-2/Del/2015-16/216 dated 20.08.2015 against the order of assessment framed for the Asst Year 2011-12 u/s 143(3)/144C of the Income Tax Act, 1961 (hereinafter referred to as the ‘Act’).

The assessee has filed an application dated 03.01.2017 requesting for the withdrawal of appeal for the following reasons stated in its application :

2 Sanjay Kumar Gupta A.Yr.2010-11 “ In this regard, the Appellant would like to inform that, it had filed for an Advance Pricing Agreement (‘ APA ‘ ) for the period beginning form Financial Year (FY) 2010-11 to FY 2018-19 (including rollback) with the Central Board of Direct taxes (‘ CBDT ‘ ). The APA has now been finalized and signed with the CBDT on 23 November 2016. The copy of the same is attached herewith as Annexure-I to the letter. In this regard, as AY 2011-12 falls under the APA period as per the rollback mechanism, the pricing for the international transactions would be governed by the terms and conditions as agreed in the APA. Rule 10RA(4) and Rule 10RA(5) of the Income-tax Rules, 1962 require that an appeal pending before the Hon’ble needs to be withdrawn in so far as the issues are covered by APA.”

The ld. DR did not raise any objection. We permit the assessee to withdraw this appeal.

In the result, the appeal by the assessee and revenue are dismissed as withdrawn.

Order pronounced in the Court on 24.01.2017.

ITO, WD-2(2), KOLKATA, KOLKATA vs. M/S ACCLARIS BUSINESS SOLUTIONS PVT. LTD., KOLKATA

What did the Tribunal hold?

What were the facts?

What were the issues?

Which sections of the Income-tax Act were involved?

Recent GST High Court judgments