M/s. Homeward Residential Corporation India P. Ltd., Pune V. Deputy Commissioner of Income-tax,

ITA 422/PUN/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 9582 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-04-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 09-04-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: VIJAY B REDDY
• Assessee Lawyers: REJENDRA AGIWAL
• Section: 143(3); 154; 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, PUN E , ! , '#$ !% , ! & BEFORE SHRI ANIL CHATURVEDI,AM AND SHRI VIKAS AWAST HY,JM #' / ITA NO. 422/PUN/2015 ( )( / ASSESSMENT YEAR : 2010-11 M/S HOMEWARD RESIDENTIAL CORPORATION INDIA PVT. LTD. LEVEL-1A, 3 & 4, TOWER-6, CYBERCITY, MAGARPATTA CITY, HADAPSAR, PUNE-411 013 PAN : AAACO7914J ....... APPELLANT / V/S. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11, PUNE / RESPONDENT ASSESSEE BY : SHRI REJENDRA AGIWAL REVENUE BY : SHRI VIJAY B. REDDY / DATE OF HEARING : 19.04.2017 / DATE OF PRONOUNCEMENT : 19.04.2017 * / ORDER PER VIKAS AWASTHY, JM THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ASSE SSMENT ORDER DATED 31.01.2015 PASSED U/S 143 (3) R.W.S 144C (13) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR THE ASSESSMENT YEAR 2010-11. 2. SHRI RAJENDRA AGIWAL APPEARING ON BEHALF OF THE ASSE SSEE SUBMITTED AT THE OUTSET THAT THE ASSESSEE HAD FILED RECTIFICATION PE TITION U/S 154 OF 2 ITA NO. 422/PUN/2015 A.Y.2010-11 THE ACT BEFORE THE ASSESSING OFFICER. THE ASSESSING OFFICER HAS PASSED THE ORDER U/S 154 OF THE ACT, AS A RESULT, THE ENTIRE TR ANSFER PRICING ADJUSTMENT OF RS.6,31,73,496/- STANDS DELETED. THUS, IN VIE W OF THE ORDER PASSED IN RECTIFICATION PETITION, THE ASSESSEE WISHES TO WITHDRAW THE APPEAL. 3. SHRI VIJAY B. REDDY REPRESENTING THE DEPARTMENT SUB MITTED THAT HE HAS NO OBJECTION IN CASE THE ASSESSEE WISHES TO WITHDRAW AP PEAL. 4. BOTH SIDES HEARD. THE ASSESSEE HAS FILED AN APPLICATION TO WITHDRAW THE APPEAL. THE RELEVANT EXTRACT OF THE SAID AP PLICATION READS AS UNDER:- THE APPELLANT HAD FILED A RECTIFICATION APPLICATION U/S 154 OF THE INCOME TAX ACT, 1961 (THE ACT). THEREAFTER, THE ASSISTAN T COMMISSIONER OF INCOME TAX (ACIT) CIRCLE 11, HAS PASSED ORDER U/S 154 AGAINST ORDER U/S 143(3) R.W.S 144C (13) OF THE ACT ( COPY ENCLOS ED AS ATTACHMENT 1). IN PURSUANT TO ACITS ORDER U/S 154, THE APPELLANT WOU LD LIKE TO BRING TO YOUR GOODSELF ATTENTION THAT THE ENTIRE TRANSFER PR ICING ADJUSTMENT OF RS. 6,31,73,496/- STANDS DELETED. IN VIEW OF THE SA ME, THE ABOVE REFERRED APPEAL WOULD BE ACADEMIC IN NATURE. THE APPELLANT THEREFORE REQUEST YOUR GOODSELF TO KI NDLY PERMIT US TO WITHDRAW THE APPEAL AND OBLIGE. 5. IN VIEW OF THE PRAYER MADE BY THE ASSESSEE, THE APP EAL IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT AFTER HEARING ON WEDNESDA Y, THE 19 TH DAY OF APRIL, 2017. SD/- SD/- ( /ANIL CHATURVEDI) ( $ !% /VIKAS AWASTHY) ACCOUNTANT MEMBER JUDICIAL MEMBER / PUNE; !' / DATED : 19 TH APRIL, 2017. 3 ITA NO. 422/PUN/2015 A.Y.2010-11 SB *+,-$.$) / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE PR. CIT-I, PUNE. #$ %&' () , * () , + +,- , / DR, ITAT, B BENCH, PUNE. 5. './01 / GUARD FILE. // TRUE COPY // *2 / BY ORDER, /ASSISTANT REGISTRAR * () , / ITAT, PUNE