RED BULL INDIA PRIVATE LIMITED, MUMBAI V. ADDITIONAL/JOINT/DEPUTY/ASSISTANT COMMISSIONER OF INCOME TAX-NFAC, DELHI, DELHI

ITA 2373/MUM/2022

AI Insights

Red Bull India Pvt Ltd filed an appeal against the final order of assessment for the assessment year 2018-19, which was passed under section 143(3) read with section 144C(13) of the Income-tax Act, 1961. The appeal was related to transfer pricing adjustments. However, during the proceedings, the assessee entered into a Unilateral APA with the Central Board of Direct Taxes, which addressed the concerns raised in the appeal. Consequently, the assessee requested to withdraw the appeal, which was acceded to by the tribunal, leading to the dismissal of the appeal as withdrawn.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 108417 (ITAT-MUMBAI)
• Duration Of Justice: 9 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-06-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: J
• Next Hearing Date: 20-06-2023
• Assessment Year: 2018-2019
• Appeal Filed On: 18-09-2022
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Transfer pricing; International transaction
• Section: 143(3)

Judgement Text

1 ITA 2373/Mum/2022 Red Bull India Pvt Ltd IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE KULDIP SINGH (JUDICIAL MEMBER) AND MS. PADMAVATHY S. (ACCOUNTANT MEMBER) I.T.A. No.2373/Mum/2022 (Assessment year 2018-19) Red Bull India Private Limited 1 st Floor, B-Wing, Atrium, Kanakia Spaes, Chakala, Andheri, Mumbai- 400 059 PAN : AADCR5842H vs Additional / Joint / Deputy / Assistant Commissioner of Income-tax, National Faceless Assssment Centre, Delhi. 4 th Floor, Mayur Bhawan, Connaught Circus APPELLANT RESPONDENT Assessee represented by Withdrawal letter dt. 03/05/2023 Department represented by Shri Manoj Kumar – CIT DR Date of hearing 21-06-2023 Date of pronouncement 21-06-2023 O R D E R PER : MS PADMAVATHY S. (AM) This appeal filed by the assessee is against the final order of assessment passed by the Assessing Officer, assessment Unit, Income-tax Department dated 22/07/2022 under section 143(3) read with section 144C(13) of the Income-tax Act, 1961 for the assessment year 2018-19. 2. At the time of hearing, the Registry has placed before us, a letter dated 03/05/2023 from the assessee wherein the assessee informed as under:- 2 ITA 2373/Mum/2022 Red Bull India Pvt Ltd “This is in reference to the ongoing appellate proceedings in the captioned matter before your honour. In this regard, the Appellant humbly inform your honour that the Appellant has entered into a Unilateral APA with the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India on 10 March 2023. The details in relation to the same has been furnished below for your honour’s ready reference: Particulars Period covered International Transactions covered APA Consecutive five years commencing from AY 2014-15 to AY 2013-14 (‘ APA period’) Import of finished goods from AE including incurring of Advertisement Marketing and Promotion (‘AMP’) expenses relating to the distribution segment APA Rollback AY 2010-11 through AY 2013-14 (“ APA Rollback peiod”) The Appellant humbly submits that the appeal for the captioned matter is pending before your honour and the Appellant wishes to withdraw the appeal pending in case of transfer pricing adjustment as the matter is covered under APA. Based on the above, we request your honour to consider the request for withdrawal of grounds of appeal.” 3. The request of the assessee for withdrawal of the appeal in ITA No.2373/Mum/2022 is hereby acceded to and the appeal is dismissed as withdrawn. 4. In the result, the appeal is dismissed. Order pronounced in the open court on 21/06/2023. Sd/- sd/- (KULDIP SINGH) (PADMAVATHY S) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai, Dt : 21 st June, 2023 Pavanan 3 ITA 2373/Mum/2022 Red Bull India Pvt Ltd प्रतितिति अग्रेतििCopy of the Order forwarded to : 1. अिीिार्थी/The Appellant , 2. प्रतिवादी/ The Respondent. 3. आयकर आयुक्त CIT 4. तवभागीय प्रतितिति, आय.अिी.अति., मुबंई/DR, ITAT, Mumbai 6. गार्ड फाइि/Guard file. BY ORDER, //True Copy// Asstt. Registrar / Senior Private Secretary ITAT, Mumbai