M/s. G K N Sinter Metals Private Ltd., Pune V. Assistant Commssioner of Income-tax,

ITA 372/PUN/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 2930 (ITAT-PUNE)
• Duration Of Justice: 9 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-01-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 06-04-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: HITENDRA NINAWE
• Keywords: Competent authority

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE , . . , $ BEFORE MS. SUSHMA CHOWLA, JM AND SHRI R.K. PANDA, AM . / ITA NO.372/PN/2015 & & / ASSESSMENT YEAR : 2010-11 M/S. GKN SINTER METALS PVT. LTD., 146, MUMBAI-PUNE ROAD, PIMPRI, PUNR 411 018 PAN NO.AAACM4432H . / APPELLANT V/S ACIT, CIRCLE-9, PUNE . / RESPONDENT / ASSESSEE BY : WITHDRAWAL APPLICATION / REVENUE BY : SHRI HITENDRA NINAWE / ORDER PER R.K.PANDA, AM : THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE O RDER DATED 16-01-2015 PASSED BY THE AO U/S.143(3) R.W.S. 144C (13) OF THE I.T. ACT, 1961 2. THE ASSESSEE HAS FILED AN APPLICATION SEEKING WITHDRAWAL OF THE APPEAL ON THE GROUND THAT THE AE OF THE ASSESSEE IN UK HAS FILED AN APPLICATION UNDER MUTUAL AGREEMENT PROCEDURE (I.E. M AP) WITH THE COMPETENT AUTHORITY, HER MAJESTYS REVENUE AN D CUSTOMS (HMRC) UNDER ARTICLE 27 OF THE UK-INDIA DOUBLE TAXATION CONVENTION. THE SETTLEMENT IN THE SAID CASE HAS BEEN ARR IVED AT / DATE OF HEARING :27.01.2016 / DATE OF PRONOUNCEMENT:27.01.2016 2 ITA NO.372/PN/2015 BETWEEN THE COMPETENT AUTHORITY OF THE UK AND THE COM PETENT AUTHORITY OF INDIA WHEREIN THE ADJUSTMENT OF RS.9,08,29,714/ - ON ACCOUNT OF TP ISSUES HAS BEEN REDUCED TO NIL CONSEQUE NT TO MAP PROCEEDINGS. 3. AFTER CONSIDERING THE CONTENTS OF THE APPLICATION AND I N ABSENCE OF ANY OBJECTION FROM THE LD. DEPARTMENTAL REPR ESENTATIVE THE APPLICATION OF THE ASSESSEE SEEKING WITHDRAWAL OF THE APPEAL FILED BY IT IS ACCEPTED. 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISS ED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEAR ING ITSELF, I.E. ON 27 TH JANUARY, 2016 SD/- SD/- ( SUSHMA CHOWLA ) ( R.K. PANDA ) JUDICIAL MEMBER ACCOUNTANT MEMBER PUNE ; DATED 28 TH JANUARY 2016. ( )+, -, / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. THE CIT CONCERNED 4. 5. $ ''(, (, / DR, ITAT, B PUNE; - / GUARD FILE. / BY ORDER , // TRUE COPY // // $ ' //TRUE // /0 ' ( / SR. PRIVATE SECRETARY (, / ITAT, PUNE