YAHOO INDIA P.LTD ( FORMERLY KNOWN AS YAHOO WEB SERVICES INDIA P. LTD), MUMBAI V. DCIT 7(3), MUMBAI

ITA 4692/MUM/2013

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 84604 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-12-2014
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 06-01-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 17-06-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: NEIL PHILIP

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES C , MUMBAI . . , , . . , BEFORE SHRI H.L.KARWA , PRESIDENT & SHRI B.R.BASKARAN , A M ITA NO. 4692 /MUM/201 3: ASST.YEAR 2006 - 200 7 M/S. YAHOO INDIA PRIVATE LIMITED (FORMERLY KNOWN AS YAHOO WEB SERVICES INDIA PRIVATE LIMITED) BUILDING 12, 6 TH FLOOR, SOLITAIRE CORPORATE PARK, GURU HARGOVINDJI MARG, ANDHERI (E) MUMBAI 400 093. PAN : AAACY12 52B . / VS. THE DY.COMMISSIONER OF INCOME - TAX CIRCLE 7(3) MUMBAI. ( / APPELLANT) ( / RESPONDENT) /APPELLANT BY : -- NONE -- /RESPONDENT BY : SHRI NEIL PHILIP / DATE OF HEARING : 29.12 .2014 / DATE OF PRONOUNCEMENT : 2 9 .1 2 .2014. / O R D E R PER H.L.KARWA ( PRESIDENT ) : THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF COMMISSIONER OF INCOME - TAX (APPEALS) - 18, MUMBAI, DATED 19 TH MARCH, 2013 RELATING TO ASSESSMENT YEAR 2006 - 2007. 2. THE ONLY EFFECTIVE GROUND RAISED BY THE ASSESSEE IN THIS APPEAL READS AS UNDER: - ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LEARNED COMMISSIONER OF INCOME - TAX (APPEALS) - 18 [`CIT(A) ] HAS ERRED IN CONFIRMING THE ADDITION OF INR 10,35,215 AS THE VALUE OF THE UNRECONCILED ENTRIES AND CONSIDERING THE SAME AS UNDISCLOSED INCOME OF THE APPELLANT. ITA NO. 4692 /MUM/201 3 . M/S. YAHOO INDIA PRIVATE LIMITED . 2 3. SHRI GURMIT SINGH, MANAGING DIRECTOR OF THE ASSESSEE - COMPANY, VIDE HIS LETTER DA TED 11 TH DECEMBER, 2014, HAS STATED AS UNDER: - RE : YAHOO INDIA PRIVATE LIMITED ( THE CLIENT / THE APPELLANT ) APPEAL NO.ITA NO.4692/M/13 ASSESSMENT YEAR 2006 - 07 FIXED FOR HEARING ON JANUARY 6, 2015 SUB: REQUEST FOR PERMISSION TO WITHDRAW APPEAL IN CONNECTION WITH THE CAPTIONED APPEAL, THE APPELLANT WISH TO SUBMIT AS FOLLOWS: THE APPELLANT HAD RAISED A GROUND FOR UNRECONCILED AIR ENTRIES AMOUNTING TO INR 10,35,215. WITHOUT PREJUDICE, THE APPELLANT WAS ABLE TO RECONCILE AROUND 97% OF THE AIR ENTRIES. HOWEVER , THE MANAGEMENT OF THE APPELLANT IS DESIROUS OF WITHDRAWING THE CAPTIONED APPEAL IN ORDER TO BUY PEACE AND COST OF LITIGATION INVOLVED. IN VIEW OF ABOVE, WE SEEK YOUR HONOURS PERMISSION TO WITHDRAW THE CAPTIONED APPEAL. THE APPEL LANT, HOWEVER, RESERVES THE RIGHT TO CONTEST THE ISSUE IN SUBSEQUENT YEARS (IF APPLICABLE) AND THE WITHDRAWING OF APPEAL SHOULD NOT BE CONSTRUED AS ACCEPTANCE OF THE ORDER OF THE LEARNED DEPUTY COMMISSIONER OF INCOME - TAX, ON THE ISSUE INVOLVED. THANKING YOU, YOURS FAITHFULLY, FOR YAHOO INDIA PRIVATE LIMITED SD/ - NAME : GURMIT SINGH DESIGNATION : MANAGING DIRECTOR ENCL : AS ABOVE CC : DEPARTMENTAL REPRESENTATIVE `G BENCH. 4. IN VIEW OF THE ABOVE LETTER, WE GRANT THE PERMISSION TO THE ASSESSEE TO WITHDRAW THE APPEAL. CONSEQUENTLY, WE DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN. ITA NO. 4692 /MUM/201 3 . M/S. YAHOO INDIA PRIVATE LIMITED . 3 5 . IN THE RESULT, ASSESSEE S APPEAL IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON THIS 29 TH DAY OF DECEMBER , 2014 . 29.12.2014 SD/ - SD/ - ( B.R.BASKARAN ) ( H.L.KARWA ) / ACCOUNTANT MEMBER / PRESIDENT MUMBAI; DATED : 29.12. 2014 . DEVDAS* / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT , MUMBAI. 4. / CIT(A) - 18 , MUMBAI 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. / BY ORDER, //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI