M/s. Metlife Global Operations Support Centre Pvt. Ltd., New Delhi V. DCIT, New Delhi

ITA 6188/DEL/2015

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 7194 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 4 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-04-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: I
• Assessment Year: 2011-2012
• Appeal Filed On: 23-11-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SANJAY I BARA
• Assessee Lawyers: ANANT PERIWAL
• Keywords: Transfer pricing; International transaction

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : I - 1 , NEW DELHI BEFORE SHRI H.S. SIDHU , JUDICIAL M EMBER AND SH RI O.P. KANT , ACCOUNTANT MEMBER ITA NO .6188 /DE L/ 2015 ASSESSMENT YEAR : 2011 - 12 M/S. METLIFE GLOBAL OPERATIONS SUPPORT CENTRE PVT. LTD., SUIT MAPLE, PAHARPUR BUSINESS CENTRE, 21, NEHRU PLACE, NEW DELHI VS. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 16(2), NEW DELHI PAN : AAFCM5000N (APPELLANT) (RESPONDENT) APPELLANT BY SHRI ANANT PERIWAL, CA RESPONDENT BY SHRI SANJAY I. BARA, CIT(DR) ORDER PER O.P. KANT, A .M. : THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE FINAL ASSESSMENT ORDER DATED 20.10.2015 PASSED BY THE DY. COMMISSIONER OF INCOME TAX, CIRCLE 16(2), NEW DELHI (HEREINAFTER REFERRED TO AS THE ASSESSING OFFICER ) IN PURSUANCE TO THE DIRECTION OF THE LD. DRP , DATED 07.09.2015 FOR ASSESSMENT YEAR 2011 - 12. 2. IN THE GROUNDS OF APPEAL , THE ASSESSE E HAS CONTESTED THE TRANSFER PRICING ADJUSTMENT. 3. AT THE OUTSET, THE LEARNED COUNSEL FOR THE ASSESSEE , SH. ANANT PERIWAL, CA, SUBMITTED THAT THE ASSESSEE HAS ENTERED INTO A BILATERAL ADVANCED PRICING AGREEMENT (APA) WITH THE CENTRAL DATE OF HEARING 11.04.2019 DATE OF PRONOUNCEMENT 11 .04.2019 2 ITA NO .6188/DEL/2015 BOARD OF DIRECT TAXE S (CBDT) ON 29 TH MARCH, 2019. THE RELEVANT APA IS APPLICABLE TO CONSECUTIVE FIVE YEARS COMMENCING FROM FINANCIAL YEAR (FY) 2014 - 15 TO FY 2018 - 19 (RELEVANT TO AY 2015 - 16 TO AY 2019 - 20) WITH THE ROLL BACK YEARS COMMENCING FROM FY 2010 - 11 TO FY 2013 - 14 (RELE VANT TO AY 2011 - 12 TO AY 2014 - 15) FOR THE INTERNATIONAL TRANSACTION PERTAINING TO THE PROVISION OF IT ENABLED SERVICES (ITES). ACCORDING TO APA, ARM S LENGTH PRICE (ALP) OF THE COVERED TRANSACTION WOULD BE AT OPERATING PROFIT M ARGIN (OP/OC) OF 15% IN EACH YEAR OF THE APA AND ROLL BACK PERIOD. 4. IN VIEW OF THE ASSESSMENT YEAR UNDER CONSIDERATION , BEING COVERED BY THE ROLL BACK PERIOD, THE ASSESSEE HAS SOUGHT TO WITHDRAW THE APPEAL. 5. LEARNED DR, ON THE OTHER HAND, COULD NOT CONTROVERT THE CONTENTIONS OF THE LEARNED COUNSEL. 6. AS THE ASSESSEE HAS WITHDRAWN THE APPEAL, WE DISMISS THE SAME AS INFRUCTUOUS. 7. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISMISSED. ORDER IS PRONOUNCED IN THE OPEN COURT ON 11 TH APRIL , 201 9 . SD/ - SD/ - [ H.S. SIDHU ] [O.P. KANT] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 2 3 R D APRIL , 2019 . RK / - [D.T.D.S] COPY FORWARDED TO: 1 . APPELLANT 2 . RESPONDENT 3 . CIT 4 . CIT(A) 5 . DR ASST. REGISTRAR, ITAT, NEW DELHI