M/s Inteva Products India Automotive Pvt. Ltd., Bangalore V. Assistant Commissioner of Income-Tax, Circle-12(1), Bangalore

ITA 2612/BANG/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0639 (ITAT-BANGALORE)
• Duration Of Justice: 2 year(s) 3 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 22-12-2020
• Assessment Year: 2005-2006
• Appeal Filed On: 18-09-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 22

Judgement Text

ITA NO.2612/BANG/2018 INTEVA PRODUCTS INDIA AUTOMOTIVE PVT. LTD., BANGALO RE IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ITA NO.2612/BANG/2018 ASSESSMENT YEAR: 2005-06 M/S. INTEVA PRODUCTS INDIA AUTOMOTIVE PRIVATE LTD. (FORMERLY KNOWN AS MERITOR LVS INDIA PRIVATE LTD.)(THE APPELLANT) MANYATA EMBASSY BUSINESS PARK, N1 BLOCK, 4 TH FLOOR, OUTER RING ROAD, K.R. PURAM, HOBLI, NAGAWARA, RACHENAHALLI VILLAGE BANGALORE-560 045. PAN NO : AABCM9623K VS. ACIT CIRCLE-12(1) BENGALURU APPELLANT RESPONDENT APPELLANT BY : SHRI M.P. LOHIA, A.R. RESPONDENT BY : SHRI PRADEEP KUMAR, D.R. DATE OF HEARING : 22.12.2020 DATE OF PRONOUNCEMENT : 22.12.2020 O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: THE ASSESSEE HAS FILED THIS APPEAL CHALLENGING THE ORDER DATED 17.07.2018 PASSED BY LD CIT(A)-3, BENGALURU AND IT RELATES TO THE ASSESSMENT YEAR 2005-06. 2. AT THE TIME OF HEARING, LD. A.R. DREW OUR ATTENT ION TO THE LETTER DATED 21.12.2020, WHEREIN HE HAS SUBMITTED THAT THE SHARE HOLDING OF THE ASSESSEE WAS CHANGED DURING THE ASSESSMENT Y EAR 2010-11, ITA NO.2612/BANG/2018 INTEVA PRODUCTS INDIA AUTOMOTIVE PVT. LTD., BANGALO RE PAGE 2 OF 2 ACCORDINGLY CARRIED FORWARD LOSSES OF THE ASSESSEE ARE LAPSED IN THE A.Y. 2010-11. THE APPEAL UNDER CONSIDERATION I.E. FOR AY 2005-06, WOULD BECOME ACADEMIC AS THE ADJUSTMENT MADE BY THE LD. TPO DURING AY 2005-06 WOULD BE ABSORBED BY THE LOSSES A VAILABLE TO THE ASSESSEE. EVEN IF THE APPEAL IS DECIDED IN FAVOUR OF THE ASSESSEE, THE LOSSES WOULD GET LAPSED AND HENCE, THE APPEAL WOULD BECOME ACADEMIC IN NATURE. ACCORDINGLY, PRAYED THAT THE A PPEAL MAY BE DISMISSED AS WITHDRAWN. KEEPING IN VIEW OF THE REQ UEST MADE BY THE ASSESSEE, THE APPEAL IS HEREBY DISMISSED AS WITHDRA WN. 3. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND DEC, 2020. SD/- (N.V. VASUDEVAN ) VICE PRESIDENT SD/- (CHANDRA POOJARI) ACCOUNTANT MEMBER BANGALORE, DATED 22 ND DEC, 2020. VG/SPS COPY TO: 1. THE APPLICANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASST. REGISTRAR, ITAT, BANGALORE.