Asst. Commissioner of Income Tax, Circle- 1, Margao., V. M/s Puyzmeister Conctrete Machines Pvt. Ltd., Goa

ITA 24/PAN/2015

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 93593 (ITAT-PANAJI)
• Duration Of Justice: 6 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-07-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 15-07-2015
• Assessment Year: 2010-2011
• Appeal Filed On: 09-01-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANAND S MARATHE LD
• Assessee Lawyers: VAIBHAV AMONKAR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH, PANAJI BEFORE SHRI N.S. SAINI, HON'BLE ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, HONBLE JUDICIAL MEMBER ITA NO. 24/PNJ/2015 : (A.Y 2010 - 11) ASST. COMMISSIONER OF INCOME TAX, CIRCLE 1, MARGAO, GOA (APPELLANT) VS. M/S. PUTZMEISTER CONCRETE MACHINES PVT. LTD., PLOT # N4, PHASE IV, VERNA INDUSTRIAL ESTATE, VERNA, SALCETE. PAN : AACCD2090G (RESPONDENT) ITA NO. 51/PNJ/2015 : (A.Y 2010 - 11) M/S. PUTZMEISTER CONCRETE MACHINES PVT. LTD., PLOT # N4, PHASE IV, VERNA INDUSTRIAL ESTATE, VERNA, SALCETE. (APPELLANT) PAN : AACCD2090G VS. ASST. COMMISSIONER OF INCOME TAX, CIRCLE 1, MARGAO, GOA (RESPONDENT) ASSESSEE BY : VAIBHAV AMONKAR, ADV. REVENUE BY : ANAND S. MARATHE, LD. DR DATE OF HEARING : 15/07/2015 DATE OF PRONOUNCEMENT : 15/07/2015 O R D E R PER GEORGE MATHAN : 1. ITA NO. 24/PNJ/2015 IS AN APPEAL FILED BY THE REVENUE AND ITA NO. 51/PNJ/2015 IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF DISPUTE RESOLUTION PANEL - III (DRP) IN OBJECTION NO. 32 DT. 3.11.2014. SHRI VAIBHAV 2 ITA NOS. 24 & 51/PNJ/2015 (A.Y : 2010 - 11) AMONKAR, ADVOCATE REPRESENTED ON BEHALF OF THE ASSESSEE AND SHRI ANAND S. MARATHE, LD. DR REPRESENTED ON BEHALF OF THE REVENUE. 2. AT THE TIME OF HEARING, THE LD. AR FILED BEFORE US A COPY OF THE LETTER DT. 14.7.2015 WHEREIN IT HAS BEEN MENTIONED THAT THE ASSESSEE HAS OPTED FOR ADVANCE PRICING AGREEMENT (APA) IN INDIA AND HAS APPLIED FOR ROLL BACK OF THE AP A FOR THE PERIOD FROM A.Y 20 10 - 11 TO A.Y 2013 - 14 IN TERMS OF RULE 10MA(5) OF THE INCOME TAX RULES, 1962. IT WAS THE SUBMISSION THAT CONSEQUENTLY THE ASSESSEE SHOULD BE GRANTED AN ADJOURNMENT. THE LD. AR ALSO PLACED BEFORE US COPY OF THE LETTER DT. 25.6.2015 FILED ON 30.6.2015 BEFOR E THE DIRECTOR GENERAL OF INCOME TAX (INTERNATIONAL TAXATION), NEW DELHI REFERRING TO THE MAIN APA APPLICATION SERIAL NO. 20 FILED ON 28.3.2013. IT WAS INFORMED TO THE LD. AR THAT AS THE ASSESSEE HAS FILED FOR ADVANCE PRICING AGREEMENT UNDER RULE 10MA, IN VIEW OF THE PROVISIONS OF RULE 10MA(4), THE APPEALS FILED BY THE ASSESSEE AS WELL AS THE REVENUE WERE LIABLE TO BE DISMISSED WITH LIBERTY TO THE PARTIES TO APPLY FOR RECALL IN THE EVENT THE APA IS NOT CONCLUDED. AGAIN, THE LD. AR REQUESTED FOR ADJOURNMEN T. 3. THE LD. DR DID NOT RAISE ANY SERIOUS OBJECTION. 4. AS IT IS NOTICED THAT THE ASSESSEE HAS FILED FOR APA AND ROLL BACK OF THE APA UNDER RULE 10MA, IN VIEW OF THE PROVISIONS OF SUB - RULE (4) OF RULE 10MA, THE APPEALS OF THE REVENUE AND THE ASSESSEE ARE DISMISSED AS THE ISSUES IN THE APPEALS ARE THE SUBJECT MATTER OF THE APA. HOWEVER, LIBERTY IS GRANTED TO BOTH THE PARTIES TO APPLY FOR RECALL IN THE EVENT THE APA IS UNSUCCESSFUL. 3 ITA NOS. 24 & 51/PNJ/2015 (A.Y : 2010 - 11) 5. IN THE RESULT, BOTH THE APPEAL OF THE ASSESSEE AND THE REVENUE STAN D DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 15/07/2015. S D / - (N.S. SAINI) ACCOUNTANT MEMBER S D / - ( GEORGE MATHAN ) JUDICIAL MEMBER PLACE : PANAJI / GOA DATED : 1 5 /07/ 201 5 *SSL* COPY TO : (1) APPELLANT (2) RESPONDENT (3) CIT(A) CONCERNED (4) CIT CONCERNED (5) D.R (6) GUARD FILE TRUE COPY, BY ORDER , 4 ITA NOS. 24 & 51/PNJ/2015 (A.Y : 2010 - 11) DATE INITIAL ORIGINAL DICTATION PAD & DRAFT ORDER ARE ENCLOSED IN THE FILE 1. DRAFT DICTATED ON 15/07/2015 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 15/07/2015 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER 15/07/2015 JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER 15/07/2015 JM/AM 5. APPROVED DRAFT COMES TO THE SR.PS/PS 15/07/2015 SR.PS 6. DATE OF PRONOUNCEMENT 15/07/2015 SR.PS 7. FILE SENT TO THE BENCH CLERK 15/07/2015 SR.PS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER