ADIT (IT) - 3(2), MUMBAI V. M/s. McKINSEY & CO. INC., MUMBAI

ITA 3178/MUM/2006

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 8566 (ITAT-MUMBAI)
• Duration Of Justice: 6 year(s) 5 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-10-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: K
• Next Hearing Date: 22-10-2012
• Assessment Year: 2002-2003
• Appeal Filed On: 19-05-2006
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AJEET KUMAR JAIN
• Keywords: Double taxation relief
• Section: 90

Judgement Text

ITA NOS.7596 OF 2010, 3178 & 3196 OF 2006 MCKINSEY & CO. INC MUMBAI PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL 'K' BENCH, MUMBAI BEFORE SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER ITA NO. 7596/MUM/2010 (A.Y 2006-07) MCKINSEY & COMPANY INC. C/O S.R. BATLIBOI & CO. 18 TH FLOOR, EXPRESS TOWER, NARIMAN POINT MUMBAI 400021 PAN:AAACM 8361 R (APPELLANT) VS. DDIT (IT) 4(1), SCINDIA HOUSE, BALLARD ESTATE, MUMBAI 400036 (RESPONDENT) ITA NO.3196/MUM/2006 (A.Y 2002-03) MCKINSEY & COMPANY INC. C/O S.R. BATLIBOI & CO. 18 TH FLOOR, EXPRESS TOWER, NARIMAN POINT MUMBAI 400021 PAN:AAACM 8361 R (APPELLANT) VS. DDIT (IT) 4(1), SCINDIA HOUSE, BALLARD ESTATE, MUMBAI 400036 (RESPONDENT) ITA NO. 3178/MUM/2006 (A.Y 2002-03) DDIT (IT) 4(1), SCINDIA HOUSE, BALLARD ESTATE, MUMBAI 400036 (APPELLANT) VS. MCKINSEY & COMPANY INC. C/O S.R. BATLIBOI & CO. 18 TH FLOOR, EXPRESS TOWER, NARIMAN POINT MUMBAI 400021 PAN:AAACM 8361 R (APPELLANT) ASSESSEE BY: SHRI DIVESH CHAWLA, DEPARTMENT BY: SHRI AJEET KUMAR JAIN, DR DATE OF HEARING: 22/08/2012 DATE OF PRONOUNCEMENT: 22/10/2012 O R D E R PER BENCH. THESE ARE APPEALS BY ASSESSEE AND BY THE REVENUE AGAINST THE ORDERS OF THE CIT (A)-21, MUMBAI DATED 06.03.20 06 FOR A.Y 2002-03 AND DATED 27.08.2010 FOR A.Y 2006-07. ITA NOS.7596 OF 2010, 3178 & 3196 OF 2006 MCKINSEY & CO. INC MUMBAI PAGE 2 OF 2 2. AT THE OUTSET THE LEARNED COUNSEL FOR ASSESSEE SUBM ITTED THAT ASSESSEE APPROACHED THE CBDT FOR MUTUAL AGREEMENT P ROCEDURE UNDER ARTICLE 27 OF THE DTAA BETWEEN INDIA AND USA (INDO-US TAX TREATY) IN RESPECT OF THE ADJUSTMENT MADE BY AO IN THE ASSESSMENT ORDER FOR ASSESSMENT YEAR 2002-03 & A.Y 2006-07. IT IS FURTHER SUBMITTED THAT THE COMPETENT AUTHORITIES OF INDIA A ND US HAVE RESOLVED THE CASE UNDER THE PROVISIONS OF ARTICLE 2 7 OF THE INDO US TREATY AND CONSEQUENT TO THAT AO UNDER SECTION 90 H AS GIVEN EFFECT TO THE ORDERS AND FILED THE COPIES OF THE ORDERS DA TED 06.07.2012. ACCORDINGLY ASSESSEE INTENDS TO WITHDRAW THE SAID A PPEALS. 3. THE LEARNED DR ALSO PLACED ON RECORD THE LETTER FRO M THE INCOME TAX OFFICER (IT) MUMBAI DATED 17.10.2012 REQ UESTING HIM TO WITHDRAW THE APPEALS FILED BEFORE THE ITAT FOR THE ABOVE ASSESSMENT YEARS. 4. IN VIEW OF THE SETTLEMENT OF THE GRIEVANCES ON THE BASIS OF THE MUTUAL AGREEMENT PROCEDURE OF INDO US TREATY, THESE APPEALS ARE PERMITTED TO BE WITHDRAWN. 5. IN THE RESULT APPEALS ARE TREATED AS DISMISSED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND OCTOBER, 2012. SD/- SD/- ( AMIT SHUKLA ) (B. RAMAKOTAIAH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED 22 ND OCTOBER, 2012. VNODAN/SPS COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CONCERNED CIT(A) 4. THE CONCERNED CIT 5. THE DR, K BENCH, ITAT, MUMBAI BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCHES, MUMBAI