Albany Molecular Research Hyderabad Research Centre Private Limited, Hyderabad V. Dy.CIT, Circle-1(1), Hyderabad

ITA 242/HYD/2014

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 2583 (ITAT-HYDERABAD)
• Duration Of Justice: 7 year(s) 4 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-06-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Assessment Year: 2009-2010
• Appeal Filed On: 14-02-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: NARAYANA MURTHY NAIK

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER I.T.A. NO. 242/HYD/2014 ASSESSMENT YEAR: 2009-10 ALBANY MOLECULAR RESEARCH HYDERABAD RESEARCH CENTRE PRIVATE LIMITED, HYDERABAD [PAN: AAFCA1469D] VS THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI K.C.DEVDAS, AR FOR REVENUE : SHRI NARAYANA MURTHY NAIK , DR DATE OF HEARING : 12-05-2021 DATE OF PRONOUNCEMENT : 23-06-2021 O R D E R PER S.S.GODARA, J.M. : THIS ASSESSEES APPEAL FOR AY.2009-10 ARISES AGAINS T THE DCIT, CIRCLE-1(1), HYDERABADS ASSESSMENT DATED 03-1 2-2013 INVOLVING PROCEEDINGS U/S.143(3) R.W.S.144C(5) OF TH E INCOME TAX ACT, 1961 [IN SHORT, THE ACT]. 2. AT THE OUTSET, WE ARE INFORMED DURING THE COURSE OF HEARING FROM THE ASSESSEES SIDE THAT IT HAS FILED FOR SETTLEMENT BENEFIT UNDER THE DIRECT TAX VIVAD SE VISWAS SCHEME-2 020 IN PRESCRIBED FORM NO.1 & 2 AND FORM-3 IN TUNE THERETO; A LSO STANDS ISSUED. ITA NO. 242/HYD/2014 :- 2 -: 3. THE ASSESSEES SOLE IDENTICAL PLEA IN THIS CASE IS THAT SINCE THE DEPARTMENT IS YET TO FINALISE THE SETTLEMENT IN TU NE WITH FORM(S)-3 ISSUED UNDER THE SCHEME, THIS APPEAL M AY NOT BE DISMISSED AS WITHDRAWN AS ON DATE. WE FIND NO MER IT IN ASSESSEES CONTENTIONS PER SE. THE FACT REMAINS THAT THE ASSESSEE HAS ALREADY BEEN ISSUED FORM-3, NO PURPOSE WOULD BE SERVED IF THIS CASE IS KEPT PENDING. WE THEREFORE O RDER THAT THIS APPEAL BE TREATED AS DISMISSED AS WITHDRAWN WITH A RIDER THAT IT SHALL BE VERY MUCH OPEN FOR THE ASSESSEE TO FILE FOR REVIVAL OF THIS CASE, IF THE SETTLEMENT BENEFIT UNDER THE SCHEME IS DENIED TO IT FOR TECHNICAL REASONS. 4. THIS ASSESSEES APPEAL IS DISMISSED AS WITHDRAWN IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 23 RD JUNE, 2021 SD/- SD/- (LAXMI PRASAD SAHU) (S.S.G ODARA) ACCOUNTANT MEMBER JUDICIAL MEM BER HYDERABAD, DATED: 23-06-2021 TNMM ITA NO. 242/HYD/2014 :- 3 -: COPY TO : 1.ALBANY MOLECULAR RESEARCH HYDERABAD RESEARCH CENT RE PRIVATE LIMITED, PHASE-II, ICICI KNOWLEDGE PARK, GE NOME VALLEY, TURKAPALLY, SHAMEERPET, HYDERABAD. 2. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1( 1), HYDERABAD. 3. DISPUTE RESOLUTION PANEL (DRP), HYDERABAD. 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.