Rockwell Collins (India) Enterprises Private Limited , Hyderabad V. Dy. Commissioner of Income Tax , Circle-3(1), Hyderabad

ITA 2377/Hyd/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 8901 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 7 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-07-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 13-01-2021
• Assessment Year: 2014-2015
• Appeal Filed On: 26-12-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAJEEV BENJWAL
• Keywords: Transfer pricing; Competent authority
• Section: 90

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER I.T.A. NO. 2377/HYD/2018 ASSESSMENT YEAR: 2014-15 ROCKWELL COLLINS (INDIA) ENTERPRISES PRIVATE LIMITED, HYDERABAD [PAN: AADCR7773H] VS DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1), HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI ALIASGER RAMPURAWALA, AR FOR REVENUE : SHRI RAJEEV BENJWAL, DR DATE OF HEARING : 29-07-2020 DATE OF PRONOUNCEMENT : 30-07-2020 O R D E R PER SMT. P. MADHAVI DEVI, J.M. : THIS IS ASSESSEES APPEAL FOR THE ASSESSMENT YEAR 2014-15. 2. AT THE TIME OF HEARING, THE LD.COUNSEL FOR ASSESSEE HAS PLACED ON RECORD A LETTER DT.13-07-2020, WHEREIN THE AS SESSEE IS REQUESTING FOR PERMISSION TO WITHDRAW ITS APPEAL, W HICH READS AS UNDER: ITA NO. 2377/HYD/2018 :- 2 -: ..THE APPELLANT SUBMITS THAT ALL GROUNDS OF AP PEAL WERE IN CONNECTION WITH THE TRANSFER PRICING. ADJUSTMENT CA RRIED OUT BY THE LD AO FOR THE AY 2014-15. IN THIS CONNECTION, AS COMMU NICATED BEFORE YOUR HONOURS VIDE SUBMISSION DATED APRIL 26, 2019, THE APPELLANT AND ITS ASSOCIATED ENTERPRISES, MIS ROCKWELL COLLIN S INC, HAD FILED A MUTUAL AGREEMENT PROCEDURE ('MAP') APPLICATION WITH THE US AND INDIA COMPETENT AUTHORITY ('CA') UNDER ARTICLE 27 O F THE DOUBLE TAXATION AVOIDANCE AGREEMENT BETWEEN INDIA AND USA (TAX TREATY), FOR THE SUBJECT MATTER SIMILAR TO THE CAPTIONED APP EAL. THE APPELLANT WOULD LIKE TO MENTION THAT RESOLUTION HAS BEEN REACHED BY THE US AND INDIAN CAS IN TERMS OF SECTION 90 OF THE ACT READ WITH ARTICLE 27 OF THE TAX TREATY. THE APPELLANT IS IN A GREEMENT WITH THE RESOLUTION REACHED FOR THE SUBJECT MATTER UNDER APP EAL AND HENCE, WOULD LIKE TO WITHDRAW THE APPEAL FILED BEFORE YOUR HONOURS FOR AY 2014-15 IN ENTIRETY. IN VIEW OF THE FOREGOING, WE REQUEST YOUR HONOURS T O KINDLY PERMIT US TO WITHDRAW THE APPEAL FILED BY US. THE INCONVENIENCE CAUSED TO YOUR HONOURS IS REGRETT ED. THANKING YOU, YOURS FAITHFULLY, FOR ROCKWELL COLLINS (INDIA) ENTERPRISES PRIVATE LI MITED SD/- DIRECTOR NAME: SAVYASACHI K. SRINIVAS DIN 06525882 3. THE LD.DR DID NOT RAISE ANY OBJECTION TO SUCH PRAY ER. 4. IN VIEW OF THE SAME, WE, THEREFORE, PERMIT THE ASSES SEE TO WITHDRAW ITS APPEAL, WHICH HEREBY STANDS DISMISSED AS WITHDRAWN. 5. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 30TH JULY, 20 20 SD/- SD/- ( A. MOHAN ALANKAMONY ) ( P. MADHAVI DEVI ) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED: 30-07-2020 ITA NO. 2377/HYD/2018 :- 3 -: TNMM COPY TO : 1. ROCKWELL COLLINS (INDIA) ENTERPRISES PRIVATE LI MITED, PHASE-II, 7 TH FLOOR, BLOCK-III, DLF COMMERCIAL DEVELOPER LIMITED (SEZ), PLOT NO.129 TO 132, APHB COLONY, GACHIBOWLI, HYDERABAD. 2. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3 (1), HYDERABAD. 3. DISPUTE RESOLUTION PANEL (DRP-1), BENGALURU. 4. DIRECTOR OF INCOME TAX (IT & TP), HYDERABAD. 5. ADDL. COMMISSIONER OF INCOME TAX (TRANSFER PRICI NG), HYDERABAD. 6. D.R. ITAT, HYDERABAD. 7. GUARD FILE.