Cyient Limited, Hyderabad, Hyderabad V. DCIT, Circle-1(2), Hyderabad, Hyderabad

ITA 288/HYD/2017

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0919 (ITAT-HYDERABAD)
• Duration Of Justice: 3 year(s) 9 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-A
• Assessment Year: 2012-2013
• Appeal Filed On: 21-02-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: Y V S T SAI
• Keywords: Transfer pricing
• Section: 143(3); 144C

Judgement Text

ITA NO 288 OF 2017 CYIENT LTD HYDERABAD PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD (THROUGH VIDEO CONFERENCING) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO.288/HYD/2017 ASSESSMENT YEAR: 2012-13 M/S. CYIENT LTD (FORMERLY INFOTECH ENTERPRISES LTD) HYDERABAD PAN:AAACI4487J VS. DY. COMMISSIONER OF INCOME TAX, CIRCLE 1(2) HYDERABAD (APPELLANT) (RESPONDENT) ASSESSEE BY: SRI NONE REVENUE BY : SRI Y.V.S.T. SAI, CIT-DR DATE OF HEARING: 09/12/2020 DATE OF PRONOUNCEMENT: 10/12/2020 ORDER PER A. MOHAN ALANKAMONY, A.M. THIS IS ASSESSEES APPEAL FOR THE A.Y 2012-13 AGAIN ST THE DRAFT ASSESSMENT ORDER OF THE DY.CIT, CIRCLE 1( 2) AND THE ASSESSMENT ORDER PASSED U/S 143(3) R.W.S 144C OF TH E I.T. ACT HYDERABAD, DATED 13-12-2016. 2. A T THE OUTSET, THE LD. AR SUBMITTED BEFORE US THAT T HE ASSESSEE DOES NOT WANT TO PURSUE THE APPEAL AS IT H AS ALREADY AVAILED THE BENEFIT OF VIVAD SE VISHWAS SCHEME WH EREIN ITS APPLICATION WAS ACCEPTED. THEREFORE, CONSEQUENT TO THE SAME, THE ASSESSEE DESIRES TO WITHDRAW THE APPEAL BEFORE THE TRIBUNAL. HENCE IT WAS PLEADED, THAT THE APPEAL OF THE ASSESS EE MAY BE TREATED AS WITHDRAWN. ITA NO 288 OF 2017 CYIENT LTD HYDERABAD PAGE 2 OF 2 3. THE LD. DR CONCEDED TO THE REQUEST OF THE LD. AR . 4. AFTER HEARING BOTH THE PARTIES, ACCORDING TO THE REQUEST OF THE ASSESSEE AND ITS LD. AR, WE HEREBY ALLOW THE APPEAL OF THE ASSESSEE TO BE WITHDRAWN. WE ALSO MAKE IT CLEAR THA T THE ASSESSEE SHALL BE AT LIBERTY TO APPROACH THE TRIBUNAL WITHIN THE STIPULATED TIME AS PROVIDED UNDER THE ACT, IN ORDER TO REINSTA TE THE APPEAL, IF THE APPLICATION WITH RESPECT TO VIVAD SE VISHWAS SC HEME IS REJECTED. 5. IN THE RESULT, APPEAL OF ASSESSEE IS DISMISSED A S WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 10 TH DECEMBER, 2020. SD/- SD/- (P. MADHAVI DEVI) JUDICIAL MEMBER (A. MOHAN ALANKAMONY) ACCOUNTANT MEMBER HYDERABAD, DATED 10 TH DECEMBER, 2020. VINODAN/SPS COPY TO: 1 CYIENT LTD, 4 TH FLOOR, A WING, PLOT NO.11, SOFTWARE UNITS LAYOUT, INFOCITY, MADHAPUR, HYDERABAD 500082 2 DY. CIT, CIRCLE 1(2) IT TOWERS, MASAB TANK, HYDER ABAD 500004 3 JT. COMMISSIONER OF INCOME TAX (TRANSFER PRICING) HYDERABAD 4 DRP -1, BENGALURU 5 THE DR, .ITAT HYDERABAD 6 GUARD FILE BY ORDER