M/s Novo Nordisk India Private Limited , Bangalore V. Deputy Commissioner of Income Tax Circle-5(1)(1), Bangalore

ITA 2816/BANG/2017

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 9057 (ITAT-BANGALORE)
• Duration Of Justice: 2 year(s) 7 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-08-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 04-08-2020
• Assessment Year: 2013-2014
• Appeal Filed On: 22-12-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MUZAFFAR HUSSAIN
• Assessee Lawyers: N O N E
• Keywords: Transfer pricing; International transaction
• Section: 143(3); 144C

Judgement Text

IT(TP)A NO.2816/BANG/2017 NOVO NORDISK INDIA PVT. LTD., BANGALORE IN THE INCOME TAX APPELLATE TRIBUNAL BBENCH: BANGALORE BEFORE SHRI B. R. BASKARAN, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER IT(TP)A NO.2816/BANG/2017 ASSESSMENTYEAR: 2013 14 NOVO NORDISK INDIA PRIVATE LTD PLOT NO.32, 47-50 EPIP AREA, WHITEFIELD BENGALURU-560 006 PAN NO :AAACN7425M VS. DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE-5(1)(1) BENGALURU APPELLANT RESPONDENT APPELLANT BY : N O N E RESPONDENT BY : SHRI MUZAFFAR HUSSAIN, D.R. DATE OF HEARING : 04.08.2020 DATE OF PRONOUNCEMENT : 04.08.2020 O R D E R PER B.R. BASKARAN, ACCOUNTANT MEMBER: THE ASSESSEE HAS FILED THIS APPEAL CHALLENGING THE ASSESSMENT ORDER PASSED BY THE A.O. FOR ASSESSMENT YEAR 2013-1 4 U/S 143(3) R.W.S. 144C OF THE INCOME-TAX ACT,1961 ['THE ACT' F OR SHORT] IN PURSUANCE OF DIRECTIONS GIVEN BY LD. DRP. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE. HOWEVE R, THE AUTHORIZED REPRESENTATIVE OF ASSESSEE HAS FORWARDED A LETTER DATED 03 RD AUGUST, 2020 BY E-MAIL TO THE TRIBUNAL, WHEREIN IT IS STATED THAT THE ASSESSEE HAS ENTERED INTO BILATERAL AS WEL L AS UNILATERAL ADVANCE PRICING AGREEMENT (APA) WITH CENTRAL BOARD OF DIRECT TAXES IT(TP)A NO.2816/BANG/2017 NOVO NORDISK INDIA PVT. LTD., BANGALORE PAGE 2 OF 3 ON 26.6.2020 FOR INTERNATIONAL TRANSACTIONS UNDERTA KEN WITH ITS ASSOCIATED ENTERPRISES IN DENMARK AS WELL AS OTHER JURISDICTIONS. IT IS FURTHER STATED THAT THE TERMS OF APA ARE APPLICA BLE TO CONSECUTIVE 5 YEARS COMMENCING FROM ASSESSMENT YEAR 2017-18 WIT H ROLLBACK OF 4 YEARS IN RESPECT OF INTERNATIONAL TRANSACTIONS EN TERED WITH AES. ACCORDINGLY, IT IS STATED THAT THE YEAR UNDER CONSI DERATION BEING ASSESSMENT YEAR 2013-14 WOULD FALL WITHIN ROLLBACK YEARS. 3. THE ASSESSEE HAS ALSO REFERRED TO THE PROVISIONS OF RULE 10RA OF INCOME TAX RULES, WHICH READS AS UNDER: RULE 10RA (4) IF ANY APPEAL FILED BY THE APPLICANT IS PENDING BEFORE THE COMMISSIONER (APPEALS), APPELLAT E TRIBUNAL OR THE HIGH COURT FOR A ROLLBACK YEAR, ON THE ISSUE WHICH IS SUBJECT MATTER OF THE ROLLBACK PROVI SION FOR THAT YEAR, THE SAID APPEAL TO THE EXTENT OF THE SUBJECT COVERED UNDER THE AGREEMENT SHALL BE WITHDRAWN BY THE APPLICANT BEFORE FURNISHING THE MODIFIED RETURN FOR THE SAID YEAR. 4. IN VIEW OF THE ABOVE SAID RULES, THE LD A.R HAS SUBMITTED IN THE ABOVE SAID LETTER THAT THE ASSESSEE SEEKS TO WI THDRAW THE APPEAL, SO THAT THE APA AGREEMENT IS GIVEN EFFECTIV E TO ASSESSMENT YEAR 2013-14 ALSO. 5. WE HEARD LD. D.R. ON THIS ISSUE. IN VIEW OF THE SUBMISSIONS MADE BY THE LD AR IN ITS LETTER REFERRED ABOVE, WE ALLOW THE ASSESSEE TO WITHDRAW THE APPEAL. IT(TP)A NO.2816/BANG/2017 NOVO NORDISK INDIA PVT. LTD., BANGALORE PAGE 3 OF 3 6. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 04.08.2020. SD/- (PAVAN KUMAR GADALE ) JUDICIAL MEMBER SD/- (B.R. BASKARAN) ACCOUNTANT MEMBER BANGALORE, DATED 04 TH AUG, 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.