COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED ( AS SUCCESSOR IN IN INTEREST OF EARSTWHILE MARKETRX INDIA PRIVATE LIMITED), CHENNAI V. DCIT CIRCLE 16(1) , NEW DELHI

ITA 1743/CHNY/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 8196 (ITAT-CHENNAI)
• Duration Of Justice: 10 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-03-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2011-2012
• Appeal Filed On: 23-05-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: HOMI RAJVANSH CIT
• Assessee Lawyers: KARTHIKEYAN PADMANABHAN
• Keywords: Sale consideration of property below Jantri Value

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH: CHENNAI , !' #'$ % ! , & ' BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ' ./ ITA NO.1743/CHNY/2018 !( /ASSESSMENT YEAR: 2011-12 M/S. COGNIZANT TECHNOLOGY SOLUTIONS INDIA PVT. LTD., (AS SUCCESSOR IN INTEREST OF ERSTWHILE MARKET RX INDIA PVT. LTD.) NEW NO.165, OLD NO.110, MENON ETERNITY BUILDING, 6 TH FLOOR, ST. MARYS ROAD, ALWARPET, CHENNAI 600 018. VS. COMMISSIONER OF INCOME TAX, LARGE TAXPAYER, CHENNAI. [PAN: AADCM 5050C ] ( ) /APPELLANT) ( *+) /RESPONDENT) ) , - / APPELLANT BY : SHRI KARTHIKEYAN PADMANABHAN, CA *+) , - /RESPONDENT BY : SHRI HOMI RAJVANSH, CIT . ! , /& /DATE OF HEARING : 26.03.2019 01( , /& / DATE OF PRONOUNCEMENT : 27.03.2019 2 / O R D E R PER INTURI RAMA RAO, ACCOUNTANT MEMBER : THIS IS AN APPEAL FILED BY THE ASSESSEE DIRECTED AG AINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX, LARGE TA XPAYER UNIT, CHENNAI (HEREINAFTER CALLED AS CIT) DATED 28.03.2 018 FOR THE ASSESSMENT YEAR (AY) 2011-12. ITA NO.1743/CHNY/2018 (AY: 2011-12) :- 2 -: 2. WHEN THE APPEAL WAS TAKEN UP FOR HEARING, THE LD. C OUNSEL FOR THE ASSESSEE FILED A LETTER DATED 26.03.2019 SEEKING PE RMISSION TO WITHDRAW THE APPEAL FILED BY THE ASSESSEE SINCE THE ASSESSEE IS NOT INTERESTED IN PROSECUTING ITS APPEAL. 3. IN VIEW OF THE ABOVE SUBMISSIONS OF THE LD. COUNSEL FOR THE ASSESSEE AND THERE BEING NO OBJECTION RAISED BY THE LD. DR, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED AS WITHDRAWN. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 27 TH MARCH, 2019 IN CHENNAI. SD/- SD/- ( ) (GEORGE MATHAN) /JUDICIAL MEMBER ( #'$ % ! ) (INTURI RAMA RAO) & /ACCOUNTANT MEMBER /CHENNAI, 3' /DATED: 27 TH MARCH, 2019 . EDN, SR. P.S 2 , */45 65(/ /COPY TO: 1. ) /APPELLANT 2. *+) /RESPONDENT 3. . 7/ ( )/CIT(A) 4. . 7/ /CIT 5. 5!89 */ /DR 6. 9: ; /GF