Texas instruments(India) Pvt Ltd, Bangalore V. Commissioner of Income tax, LTU, Bangalore

ITA 1268/BANG/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 95308 (ITAT-BANGALORE)
• Duration Of Justice: 11 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-10-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 16-07-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 14-10-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Depreciation
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : BANGALORE BEFORE SMT. ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER IT(TP)A NO.1268/BANG/2014 ASSESSMENT YEAR : 2007-08 M/S. TEXAS INSTRUMENTS INDIA PVT. LTD., 66/03, BAGMANE TECH PARK, BYRASANDRA, C.V. RAMAN NAGAR POST, BANGALORE 560 093. PAN: AAACT 5445M VS. THE COMMISSIONER OF INCOME TAX, LTU, BANGALORE. APPELLANT RESPONDENT APPELLANT BY : SHRI ANKUR PAI, CA RESPONDENT BY : SHRI I.P.S. BINDRA, CIT-I(DR) DATE OF HEARING : 13.10.2015 DATE OF PRONOUNCEMENT : 13.10.2015 O R D E R PER ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER THIS APPEAL IS AGAINST THE ORDER DATED 11.03.2014 OF THE COMMISSIONER OF INCOME TAX, LTU, BANGALORE FOR THE ASSESSMENT YEAR 2007-08. 2. AT THE TIME OF HEARING OF THE APPEAL, THE LD. CO UNSEL FOR THE ASSESSEE HAS FILED AN APPLICATION DATED 13.10.2015 AND STATE D THAT THE ASSESSEE IS IT(TP)A NO.1268/BANG/2014 PAGE 2 OF 3 NOT PURSUING THE APPEAL BEFORE THE TRIBUNAL ON THE GROUNDS THAT SUBSEQUENT TO FILING OF THE APPEAL BEFORE THE TRIBU NAL, THE ASSESSING OFFICER HAS PASSED AN ORDER U/S. 143(3) R.W.S. 263 I.E., OR DER GIVING EFFECT TO THE ORDER OF THE LD. CIT, ALLOWING THE ISSUES OF ESOP/E SPP AND DEPRECIATION ON FINANCE LEASED ASSET IN FAVOUR OF THE ASSESSEE. HOWEVER, IN THE SAID ORDER, THE AO HAS MADE ADDITION IN RESPECT OF DISAL LOWANCE U/S. 40(A)(IA) OF THE ACT AGAINST WHICH THE ASSESSEE HAS PREFERRED AP PEAL BEFORE THE CIT(APPEALS). IN THE ABOVE CIRCUMSTANCES, IT WAS T HE PLEA OF THE LD. COUNSEL FOR THE ASSESSEE THAT WITHDRAWAL OF THE ASS ESSEES APPEAL MAY BE PERMITTED. 3. WE HAVE HEARD BOTH THE PARTIES. THE SUBMISSIONS MADE BY THE LD. COUNSEL FOR THE ASSESSEE FOR WITHDRAWAL OF THE APPE AL ARE ACCEPTED AND AS SUCH, THE APPEAL IS DISMISSED AS WITHDRAWN. 4. IN THE RESULT, THE APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THIS 13 TH DAY OF OCTOBER, 2015. SD/- SD/- ( ABRAHAM P. GEORGE ) (ASHA VIJAYARAGHAVAN ) ACCOUNTANT MEMBER JUDICIAL MEMBER BANGALORE, DATED, THE 13 TH OCTOBER, 2015. /D S/ IT(TP)A NO.1268/BANG/2014 PAGE 3 OF 3 COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE.