MC KINSEY & COMPANY INC,MUMBAI vs. ADIT (IT) 4(1), MUMBAI

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ITA 7670/MUM/2012Status: DisposedITAT Mumbai08 January 2016AY 2008-092 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 Tribunal allowed the assessee's request to withdraw the appeals. This was based on the resolution of the case under the Mutual Agreement Procedure (MAP) of the India-US Tax Treaty.

What were the facts?

The assessee filed appeals against the orders of the Dispute Resolution Panel (DRP) for AYs 2008-09 and 2009-10. The assessee subsequently filed an application to withdraw these appeals.

What were the issues?

Whether the appeals should be withdrawn due to a resolution under the India-US Tax Treaty's Mutual Agreement Procedure.

Which sections of the Income-tax Act were involved?

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

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “K”, BENCH MUMBAI

Before: SHRI PRAMOD KUMAR, AM & SHRI PAWAN SINGH, JM

For Appellant: Shri Sonia Agarwal
For Respondent: Shri Narendra Chand (DR)
Hearing: 04/01/2016Pronounced: 08/01/2016

Assessee by : Shri Sonia Agarwal Revenue by : Shri Narendra Chand (DR) Date of Hearing : 04/01/2016 Date of Pronouncement: 08/01/2016 O R D E R PER PAWAN SINGH, JM: These two appeals are filed by the assessee against the order of DRP u/s.144C(13) r.w.s 143(3) of the Income Tax Act, 1961 (‘the Act’) dated 28. 09. 2012 in respect of AY 2008-09 and direction of DRP u/s. 144 C(13) r.w.s 143(3) dated 18.12.2013, in respect of AY- 2009-10, respectively.

2.

The Authorized Representative (AR) of the assessee made a request for seeking permission to withdraw both the appeals and contended that an application for withdrawal of the present appeals has already been filed on 15.12.2012. AR of the assessee further submitted that the assessee filed an application under the provisions of Article 27 (Mutual Agreement Procedure) of the Double Taxation Avoidance Agreement between India and United States of America (‘India-US Tax Treaty’) in respect of adjustment made by the Assessing Officer (AO) in respect of final assessment order for Assessment Year (AYs) 2008-09 and 2009-10 and the competent authority of India and US have resolved the case under the provisions of Article 27 of the India-US Tax Treaty, copy of which is placed on record along with the acceptance of which has already been filed with the office of AO which fact are not disputed by the DR.

3.

In view of the above observation, the present appeals are disposed of and dismissed as withdrawn.

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