M/s Citizen Watches (india) Pvt Ltd , Bangalore V. Assistant Commissioner of Income Tax Ward-2(1)(1), Bangalore

ITA 2944/BANG/2018

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 7169 (ITAT-BANGALORE)
• Duration Of Justice: 1 year(s) 3 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-02-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 29-01-2020
• Assessment Year: 2014-2015
• Appeal Filed On: 29-10-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: VIDYA KURUP
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH : BANGALORE BEFORE SHRI N.V VASUDEVAN, VICE PRESIDNET AND SHRI B.R BASKARAN, ACCOUNTANT MEMBER IT(TP)A NO.2944/BANG/2018 ASSESSMENT YEAR : 2014-15 M/S CITIZEN WATCHES (INDIA) PVT. LTD., NO.299, 6 TH MAIN, HAL 2 ND STAGE, INDIRANAGAR, BENGALURU-560 038. PAN AAACC 4712 A VS. THE ASST. COMMISSIONER OF INCOME- TAX, WARD-2(1)(1), BENGALURU. APPELLANT RESPONDENT ASSESSEE BY : SMT. VIDYA KURUP, C.A REVENUE BY : SHRI PRADEEP KUMAR, CIT DATE OF HEARING : 29.01.2020 DATE OF PRONOUNCEMENT : 04.02.2020 O R D E R PER B.R BASKARAN, ACCOUNTANT MEMBER THE ASSESSEE HAS FILED THIS APPEAL CHALLENGING THE ASST. ORDER PASSED FOR ASST. YEAR 2014-15 U/S 143(3) R.W.S 145C (13) OF THE ACT. 2. AT THE TIME OF HEARING THE LD COUNSEL FOR THE AS SESSEE SUBMITTED THAT THE PETITION OF THE ASSESSEE SEEKING TO WITHDRAW THE APPEAL. THE SAID PETITION READS AS UNDER:- IT(TP)A NO.2944/BANG/2018 PAGE 2 OF 4 APPELLANT : M/S CITIZEN WATCHES (INDIA) PVT. LTD., (CWIPL OR THE APPELLANT OR WE) REFERENCE: WITHDRAWAL OF GROUNDS OF APPEAL IN THE APPEAL NO. ITA 2944/BANGI18 FOR THE AY 2014- 15PURSUANT TO ENTERING INTO ADVANCE PRICING AGREEME NT ('APA') WE REFER TO THE CAPTIONED APPEAL PENDING BEFORE THE HONOURABLE INCOME TAX APPELLATE TRIBUNAL (HON'BLE TRIBUNAL') FOR THE AY 2014-15, WHEREIN WE WISH TO INFORM THE HON'BLE TRIBUNAL THAT THE APPELLANT HAS ENTERED INTO A UNILATERAL APA WITH THE CENTRAL BOAR D OF DIRECT TAXES UNDER SECTION 92CC OF THE INCOME TAX A CT, 1961. A COPY OF THE APA AGREEMENT IS ENCLOSED AS ANNEXURE 1 OF THIS LETTER. IN VIEW OF THE SAME, THE APPELLANT WOULD LIKE TO WITHDRAW THE GROUNDS OF APPEAL FILED ON 290CTOBER 2018 FOR AY 2014-15. 'THE APPELLANT REQUESTS YOUR GOOD SELF TO TAKE THIS SUBMISSION ON RECORD AND OBLIGE. 3. THE LD DR DID NOT OBJECT TO THE PETITION FILED B Y THE ASSESSEE. ACCORDINGLY WE ALLOW THE ASSESSEE TO WITHDRAW THE A PPEAL. IT(TP)A NO.2944/BANG/2018 PAGE 3 OF 4 4. IN THE RESULT, THE APPEAL FILED BY THE ASSES SEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 4 TH FEBRUARY , 2020. SD/- (N.V VASUDEVAN) VICE PRESIDENT SD/- (B.R BASKARAN) ACCOUNTANT MEMBER BANGALORE, DATED, 4 TH FEBRUARY, 2019. / VMS / 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