FARE PORTAL INDIA PRIVATE LIMITED ,NEW DELHI V. ACIT CIRCLE-7(1), NEW DELHI

ITA 1520/DEL/2022

AI Insights

The case involves Fare Portal India Pvt. Ltd., which appealed against an assessment order related to transfer pricing issues for the Assessment Year 2018-19. During the pendency of the appeal, the appellant entered into an APA with the CBDT, which included the relevant assessment year as one of the rollback years. Consequently, the appellant sought to withdraw the appeal, citing the APA as the basis for resolving the disputes covered under it. The tribunal acknowledged the withdrawal request and allowed the possibility of restoring the appeal if the modified return, following the APA, is not accepted by the Department.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 23533 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 4 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-11-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: I
• Next Hearing Date: 12-11-2024
• Assessment Year: 2018-2019
• Appeal Filed On: 28-06-2022
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Transfer pricing

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI ANUBHAV SHARMA, JUDICIAL MEMBER ITA No [Assessment Year : Fare Portal India Pvt.Ltd., G-56, 3rd Floor, Green Park Main, New Delhi-110017. PAN-AAACF8769L APPELLANT Appellant by Respondent by Date of Hearing Date of Pronouncement PER PRADIP KUMAR KEDIA The instant appeal has been filed at the instance of to assail the order dated Delhi against arising from the assessment order dated 143(3) r.w.s 144C(13) of the Act pertaining to 2. The Ld. Counsel for the assessee permitted to be withdrawn dated 08.11.2024 filed by the Ld. Counsel for the assessee company, is also placed on record. The relevant under:- “This is regarding the subject income tax appeal which is pending before this Hon'ble Tribunal and is next listed for hearing before the Hon'ble I-Bench on 12 November 2024. During the pendency of this appeal, on 01 October 2024, the Appellant has entered into an APA with the CBDT wherein the subject AY 2018 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “I” BENCH: NEW DELHI SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.1520/Del/2022 Assessment Year : 2018-19] Fare Portal India Pvt.Ltd., Floor, Green Park 110017. vs ACIT, Circle-7(1), Delhi. RESPONDENT S/Shri Himanshu S.Sinha, Adv., Prashant Meharchandani, Adv. & Jainender Katariya, Adv. Shri Dharamvir Singh, CIT DR 12.11.2024 Date of Pronouncement 12.11.2024 ORDER PRADIP KUMAR KEDIA, AM : The instant appeal has been filed at the instance of the assessee seeking to assail the order dated 27.05.2022 passed by the Ld. DC/ACIT TP 1(2)(2) against arising from the assessment order dated 30.05.202 3) of the Act pertaining to Assessment Year 2018 Ld. Counsel for the assessee prayed that the present appeal permitted to be withdrawn in light of APA dated 01.10.2024. An application dated 08.11.2024 filed by the Ld. Counsel for the assessee company, is also e relevant contents of the application are reproduced as egarding the subject income tax appeal which is pending before this Hon'ble Tribunal and is next listed for hearing before the Hon'ble Bench on 12 November 2024. During the pendency of this appeal, on 01 October 2024, the Appellant has to an APA with the CBDT wherein the subject AY 2018 SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & S/Shri Himanshu S.Sinha, Adv., Prashant Meharchandani, Adv. & Singh, CIT DR assessee seeking DC/ACIT TP 1(2)(2), .2022 passed u/s ear 2018-19. prayed that the present appeal may be . An application dated 08.11.2024 filed by the Ld. Counsel for the assessee company, is also reproduced as egarding the subject income tax appeal which is pending before this Hon'ble Tribunal and is next listed for hearing before the Hon'ble During the pendency of this appeal, on 01 October 2024, the Appellant has to an APA with the CBDT wherein the subject AY 2018-19 is one of the roll back years in the APA. A copy of the signed APA dated 01 October 2024 is annexed herewith as Annexure A. Since the appeal involves only transfer pricing issues which are covered issues under the signed APA, the Appellant wishes to withdraw the appeal in light of the APA dated 01 October 2024. In case the modified return filed by the Appellant, pursuant to the signed APA and the withdrawal of the appeal, is not accepted by the Departme for any reason, the Appellant humbly seeks the leave of this Hon'ble Tribunal to apply for restoration of this appeal.” 3. The Ld. CIT DR for the Revenue 4. We have heard rival submissions and perused the materia record. In view of the prayer made by Ld. Authorized Representative of the assessee vide letter dated 08.11.2024, Year 2018-19] is permitted to be withdrawn. expressed any objections. The assessee is however, granted liberty to seek restoration of appeal in accordance with law for adjudication on merits, if circumstances so arise in the ensuing times. 5. In the result, the appeal of the assessee is Order pronounced in the open Court on Sd/- (ANUBHAV SHARMA) JUDICIAL MEMBER * Amit Kumar * Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ITA No. of the roll back years in the APA. A copy of the signed APA dated 01 October 2024 is annexed herewith as Annexure A. Since the appeal involves only transfer pricing issues which are covered es under the signed APA, the Appellant wishes to withdraw the appeal in light of the APA dated 01 October 2024. In case the modified return filed by the Appellant, pursuant to the signed APA and the withdrawal of the appeal, is not accepted by the Departme for any reason, the Appellant humbly seeks the leave of this Hon'ble Tribunal to apply for restoration of this appeal.” for the Revenue has no objection in this regard. We have heard rival submissions and perused the materia record. In view of the prayer made by Ld. Authorized Representative of the assessee vide letter dated 08.11.2024, ITA No.1520/Del/2022 permitted to be withdrawn. The Revenue has also not objections. The assessee is however, granted liberty to seek restoration of appeal in accordance with law for adjudication on merits, if circumstances so arise in the ensuing times. In the result, the appeal of the assessee is dismissed in limine er pronounced in the open Court on 12th November, 202 Sd/- (PRADIP KUMAR KEDIA) ACCOUNTANT MEMBER ASSISTANT REGISTRAR ITAT, NEW DELHI ITA No.1520/Del/2022 Page | 2 of the roll back years in the APA. A copy of the signed APA dated 01 Since the appeal involves only transfer pricing issues which are covered es under the signed APA, the Appellant wishes to withdraw the appeal In case the modified return filed by the Appellant, pursuant to the signed APA and the withdrawal of the appeal, is not accepted by the Department for any reason, the Appellant humbly seeks the leave of this Hon'ble in this regard. We have heard rival submissions and perused the material available on record. In view of the prayer made by Ld. Authorized Representative of the /Del/2022 [Assessment The Revenue has also not objections. The assessee is however, granted liberty to seek restoration of appeal in accordance with law for adjudication on merits, if limine. , 2024. PRADIP KUMAR KEDIA) ACCOUNTANT MEMBER ASSISTANT REGISTRAR ITAT, NEW DELHI "