Welspun Corporation Ltd., Mumbai V. The Income Tax Officer (Intl. Tax.), Rajkot

ITA 1551/AHD/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 1325 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 1 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-06-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: I
• Assessment Year: 2009-2010
• Appeal Filed On: 27-05-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MAHESH SHAH
• Keywords: Transfer pricing
• Section: 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD I BENCH BEFORE: S H RI PRAMOD KUMAR , ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER WELSPUN CORP LTD. WELSPUN CITY, TAL: ANJAR, DISTRICT KUTCH, GUJARAT - 370110 PAN: AAACW0744L (APPELLANT) VS ITO (INTERNATIONAL TAXATION), RAJKOT (RESPONDENT) REVENUE BY : S H RI MAHESH SHAH , D . R. ASSESSEE BY: S H RI VARTIK CHOKSHI , A.R. DATE OF HEARING : 16 - 06 - 2 016 DATE OF PRONOUNCEMENT : 29 - 06 - 2 016 / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THIS ASSESSEE S APPEAL FOR A.Y. 2009 - 10 , AR ISES FROM ORDER OF THE DIT(INTERNATIONAL TAXATION), AHMEDABAD DATED 26 - 03 - 2013 , IN PROCEEDINGS UNDER SECTION 263 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . I T A NO . 1551 / A HD/20 13 A SSESSMENT YEAR 200 9 - 10 I .T.A NO.1551/AHD/2013 A.Y. 2009 - 10 PAGE NO WELSPUN CORP LTD. VS. ITO (INTERNATIONAL TAXATION), 2 2. LEARNED COUNSEL APPEARING AT ASSESSEE S BEHEST FILES A WRITTEN NOTE INTER A LIA AVERRING THEREIN THAT THE ASSESSING OFFICER FRAMED A CONSEQUENTIAL ASSESSMENT ON 03 - 02 - 2014 IN FURTHERANCE TO THE CIT S ORDER UNDER CHALLENGE INTER ALIA MAKING TRANSFER PRICING ADJUSTMENT S IN ITS CASE. THE ASSESSEE FILED AN APPEAL. THE CIT(A) - 13, AHMEDABA D IS STATED TO HAVE ACCEPTED THE SAME IN ITS FAVOUR VIDE ORDER DA TED 30 - 04 - 2015 IN APPEAL NO. CIT(A) - 13/AHD/INTL. TAXN./2014 - 15 . IT IS ACCORDINGLY PLEADED THAT THE A SSESSEE DOES NOT WISH TO PRESS THE SAME SO AS TO AVOID MULTIPLICITY OF LITIGATION. THE R EVENUE DOES NOT OBJECT TO THESE SUBMISSIONS. WE ACCEPT ASSESSEE S PRAYER FOR WITHDRAWAL OF THE INSTANT APPEAL. 3. THIS ASSESSEE S APPEAL IS DISMISSED AS WITHDRAWN. ORDER PR ONOUNCED IN THE OPEN C OURT ON 29 - 06 - 201 6 SD/ - SD/ - ( PRAMOD KUMAR ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 29 /06 /2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , I .T.A NO.1551/AHD/2013 A.Y. 2009 - 10 PAGE NO WELSPUN CORP LTD. VS. ITO (INTERNATIONAL TAXATION), 3 / ,