Regen Renewable Energy Generation Global Limited, Cyprus, CHENNAI V. DCIT International Taxation 2(1), CHENNAI

ITA 1338/CHNY/2018

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 3777 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 6 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-11-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2013-2014
• Appeal Filed On: 20-04-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: DR M SRINIVASA RAO
• Assessee Lawyers: B RAMAKRISHNAN
• Section: 154

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, CHENNAI . . . , !' #, % !& BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ./ ITA NO.1338/CHNY/2018 ) *) / ASSESSMENT YEAR : 2013-14 M/S REGEN RENEWABLE ENERGY GENERATION GLOBAL LIMITED, CYPRUS C/O M/S REGEN POWERTECH PVT. LTD., KRM PLAZA, 8 TH FLOOR, NORTH TOWER NO.2, HARRINGTON ROAD, CHENNAI - 600 031. PAN : AAFCR 0685 N V. THE DEPUTY COMMISSIONER OF INCOME TAX, INTERNATIONAL TAXATION 2(1), CHENNAI - 600 034. (,-/ APPELLANT) (./,-/ RESPONDENT) ,- 0 1 / APPELLANT BY : SH. B. RAMAKRISHNAN, FCA ./,- 0 1 / RESPONDENT BY : DR. M. SRINIVASA RAO, CIT 2 0 '% / DATE OF HEARING : 04.11.2019 3#* 0 '% / DATE OF PRONOUNCEMENT : 04.11.2019 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER : THIS APPEAL OF THE ASSESSEE IS DIRECTED AGAINST T HE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) -16, CHENN AI, DATED 05.04.2018 AND PERTAINS TO ASSESSMENT YEAR 2013-14. 2 I.T.A. NO.1338/CHNY/18 2. WHEN THE APPEAL WAS TAKEN UP FOR HEARING, SH. B. RAMAKRISHNAN, THE LD. REPRESENTATIVE FOR THE ASSESS EE, SUBMITTED THAT THE RETURNED INCOME WAS ACCEPTED BY THE ASSESS ING OFFICER IN THE FINAL ASSESSMENT ORDER PASSED CONSEQUENT TO THE DIRECTION OF THE DISPUTE RESOLUTION PANEL. EVEN THE RATE OF TAX , WHICH WAS OBJECTED BY APPLICATION UNDER SECTION 154 OF THE IN COME-TAX ACT, 1961 (IN SHORT 'THE ACT') WAS ALSO ACCEPTED BY THE ASSESSING OFFICER IN THE FINAL ORDER. ACCORDING TO THE LD. REPRESENT ATIVE, THE PRESENT APPEAL IS ARISING OUT OF THE PROCEEDING INITIATED U NDER SECTION 154 OF THE ACT IN RESPECT OF DETERMINATION OF RATE OF TAX. SINCE THE RATE OF TAX IS ACCEPTED IN THE FINAL ASSESSMENT ORDER, ACCO RDING TO THE LD. REPRESENTATIVE, THE PROCEEDING INITIATED UNDER SECT ION 154 OF THE ACT BECAME INFRUCTUOUS. CONSEQUENTLY, THE APPEAL FILED BEFORE THIS TRIBUNAL HAS BECOME INFRUCTUOUS. HENCE, THE LD. RE PRESENTATIVE SUBMITTED THAT HE WAS INSTRUCTED TO WITHDRAW THE AP PEAL. THE LD. REPRESENTATIVE HAS ALSO MADE ENDORSEMENT TO THAT EF FECT IN THE APPEAL FOLDER. 3. DR. M. SRINIVASA RAO, THE LD. DEPARTMENTAL REPRE SENTATIVE, HAS NO OBJECTION TO DISMISS THE APPEAL AS WITHDRAWN . 3 I.T.A. NO.1338/CHNY/18 4. IN VIEW OF THE ABOVE, THIS APPEAL OF THE ASSESSE E IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE COURT OPEN ON 4 TH NOVEMBER, 2019 AT CHENNAI. SD/- SD/- ( !' #) ( . . . ) (RAMIT KOCHAR) (N.R.S. GANESAN) % / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 5 /DATED, THE 4 TH NOVEMBER, 2019. KRI. 0 .' 6 76*' /COPY TO: 1. ,- /APPELLANT 2. ./,- /RESPONDENT 3. 2 8' () /CIT(A)-16, CHENNAI 4. CIT (INTERNATIONAL TAXATION), CHENNAI 5. 69 .' /DR 6. ) : /GF.