Sandvik Intellectual Property AB, Pune V. Assistant Commissioner of Income-tax, (IT),Circle-2, Pune

ITA 1915/PUN/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 4946 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 9 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-10-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2015-2016
• Appeal Filed On: 19-12-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 13; 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, PUNE (THROUGH VIRTUAL COURT) BEFORE SHRI R.S.SYAL, VP AND SHRI PARTHA SARATHI CHAUDHURY , JM . / I TA NO. 1915 /PUN/20 18 / ASSESSMENT YEAR : 2015 - 16 SANDVIK INTELLECTUAL PROPERTY AB, C/O. SANDVIK ASIA PRIVATE LIMITED. MUMBAI - PUNE ROAD, DAPODI, PUNE - 411 012. PAN : AATCS7288N ....... / APPELLANT / V/S. THE ASSISTANT COMMISSIONER OF INCOME TAX, (INTERNATIONAL TAXATION), CIRCLE - 2, PUNE. / RESPONDENT A SSESSEE BY : SHRI NIKHIL PATHAK REVENUE BY : SHRI DEEPAK GARG / DATE OF HEARING : 13 . 10 .2020 / DATE OF PRONOUNCEMENT : 13 .10 .2020 / ORDER PER PARTHA SARATHI CHAUDHU RY, JM : THIS APPEAL PREFERRED BY THE ASSESSEE EMANATES FROM THE DIRECTIONS OF THE LD. DISPUTE RESOLUTION PANEL (DRP) - 3, MUMBAI DATED 25.09.2018 FOR THE ASSESSMENT YEARS 2015 - 16 AS PER THE GROUNDS OF APPEAL ON RECORD. 2 ITA NO. 1915 /PUN/20 18 A.Y. 2015 - 16 2. THE LD. AR FOR THE ASSESSEE THROUGH VIDEO CONFERENCE SUBMITTED THAT THE ASSESSEE WANTS TO WITHDRAW THE APPEAL AS THE ASSE SSEE HAS OPTED FOR VIVAD SE VISHWAS SCHEME AND HAS FILED AN APPLICATION DATED 18.09.2020 ALONG WITH FORM - 3 IN THIS REGARD BY STATING AS FOLLOWS: WE REFER TO THE CAPTIONED APPEAL FILED BY THE COMPANY IN FORM 36 ON 19 DECEMBER , 2018 . COPY OF THE ACKNOWLEDGEMENT IS ENCLOSED AS ANNEXURE 1 FOR YOUR HONOURS REFERENCE. IN THIS REGARD, THE COMPANY SUBMITS THAT FOR AY 2015 - 16, T HE APPELLANT HAS OPTED FOR THE VIVAD SE VISHWAS SCHEME ('THE SCHEME') WITH A VIEW TO SETT LE THE PENDING TAX DISPUT E. IN THIS REGARD, ON 20 MARCH, 2020, THE COMPANY FILED A DECLARATION IN FORM 1 TO OPT FOR THE SCHEME AND FURTHER AN UNDERTAKING IN FORM 2 WAIVING ALL ITS RIGHTS TO ANY CLAIMS FOR AY 2015 - 16 AS PER THE PROCEDURE LAID DOWN IN THE DIRECT TAX VIVAD SE VISHWA S ACT, 2020 READ WITH THE CORRESPONDING DIRECT TAX VIVAD SE VISHWAS RULES, 2020 ('THE RULES'). COP Y OF FORM 1 AND FORM 2 HAVE BEEN ENCLOSED HEREWITH FOR YOUR HONOURS REFERENCE AS ANNEXURE 2. SUBSEQUENTLY, THE JURISDICTIONAL COMMISSIONER OF INCOME TAX (IN TERNATIONAL TAXATION - PUNE) ISSUED A CERTIFICATE (NUMBER 537150650100920) DATED 10 SEPTEMBER, 2020 UNDER FORM 3 AS PRESCRIBED UNDER THE RULES CONFIRMING THE ACCEPTANCE OF THE FORMS 1 & 2, AND THEREBY DECLARING A NIL TAX PAYABLE BY THE COMPANY UNDER THE S CHEME. COPY OF THE FORM 3 ISSUED HAS BEEN ENCLOSED AS ANNEXURE 3 FOR YOUR HONOURS REFERENCE. IN LIGHT OF THE ABOVE, THE COMPANY WISHES TO WITHDRAW THE CAPTIONED APPEAL (ITA 1915/PUN/2018) FILED BEFORE YOUR HONOURS FOR AY 2015 - 16 AND REQUESTS YOUR HONOURS PERMISSION FOR THE SAME. THE LD. DR HAS NO OBJECTION IN CASE THE ASSESSEE WISHES TO WITHDRAW THE APPEAL. HENCE, WE PERMIT THE WITHDRAWAL. APPEAL OF ASSESSEE IS DISMISSED BEING WITHDRAWN. 3. IN THE RESULT , THE APPEAL OF ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRO NOUNCED ON 13 TH DAY OF OCTOB ER, 20 20 . SD/ - SD/ - R.S.SYAL PARTHA SARATHI CHAUDHURY VICE PRESIDENT JUDICIAL MEMBER / PUNE; / DATED : 13 TH OCTOBER , 2020. SB 3 ITA NO. 1915 /PUN/20 18 A.Y. 2015 - 16 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE CIT(APPEALS) - 13, PUNE. 4. THE PR. CIT - 5, PUNE. 5 . , , , / DR, ITAT, B BENCH, PUNE. 6 . / GUARD FILE. / BY ORDER, // TRUE COPY // / PRIVATE SECRETARY , / ITAT, PUNE . 4 ITA NO. 1915 /PUN/20 18 A.Y. 2015 - 16 DATE 1 DRAFT DICTATED ON 13 .10 .2020 SR.PS/PS 2 DRAFT PLACED BEFORE AUTHOR 13 .10 .2020 SR.PS/PS 3 DRAFT PROPOSED AND PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM/JM 5 APPROVED DRAFT COMES TO THE SR. PS/PS SR.PS/PS 6 KEPT FOR PRONOUNCEMENT ON SR.PS/PS 7 DATE OF UPLOADING OF ORDER SR.PS/PS 8 FILE SENT TO BENCH CLERK SR.PS/PS 9 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK 10 DATE ON WHICH FILE GOES TO THE A.R 11 DATE OF DISPATCH OF ORDER