Assistant Commissioner of Income-tax, V. M/s. Visteon Engg. Centre (I) Pvt. Ltd., Pune

ITA 625/PUN/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 7477 (ITAT-PUNE)
• Duration Of Justice: 9 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-01-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2011-2012
• Appeal Filed On: 07-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M K GAUTAM
• Assessee Lawyers: NUPOOR SHAH; RISHIKESH GOGTE
• Section: 143(3); 6

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, PUN E , , !'#'' $ , % & BEFORE SHRI R.K. PANDA, AM AND SHRI VIKAS AWASTHY, JM / ITA NO. 479/PUN/2016 %' ( ')( / ASSESSMENT YEAR : 2011-12 VISTEON TECHNICAL & SERVICE CENTRE PVT. LTD., (FORMERLY: VISTEON ENGINEERING CENTER (INDIA) PVT. LTD., OFFICE NO. 502, 5 TH FLOOR, ICC-DEVI GAURAV TECH PARK, S. NO. 191 (PART) AND 192 (PART), SUB PLOT NO. B, MUMBAI PUNE ROAD, PIMPRI WAGHERE, PUNE-411018 PAN : AACCT2585N ....... / APPELLANT ' / V/S. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 13, PUNE / RESPONDENT / ITA NO. 625/PUN/2016 %' ( ')( / ASSESSMENT YEAR : 2011-12 THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 13, PUNE ....... / APPELLANT ' / V/S. M/S. VISTEON ENGINEERING CENTRE (INDIA) PVT. LTD., OFFICE NO. 502 B, ICC-DEVI GAURAV TECH PARK, 5 TH FLOOR, MUMBAI PUNE ROAD, PIMPRI-CHINCHWAD, PUNE-411018 PAN : AACCT2585N / RESPONDENT ASSESSEE BY : SHRI RISHIKESH GOGTE & MS. NUPOOR SHAH REVENUE BY : SHRI M.K. GAUTAM / DATE OF HEARING : 09-01-2017 / DATE OF PRONOUNCEMENT : 09-01-2017 2 ITA NOS. 479 & 625/PUN/2016 * / ORDER PER VIKAS AWASTHY, JM : THESE CROSS APPEALS FILED BY THE ASSESSEE AND THE REVEN UE ARE DIRECTED AGAINST THE ASSESSMENT ORDER DATED 29-01-201 6 PASSED U/S. 143(3) R.W.S. 144C(13) OF THE INCOME TAX ACT, 1961 (HEREINAFTE R REFERRED TO AS THE ACT) FOR THE ASSESSMENT YEAR 2011-12. 2. SHRI RISHIKESH GOGTE AND MS. NUPOOR SHAH APPEARING ON BEHALF OF THE ASSESSEE SUBMITTED AT THE OUTSET THAT THE ASSE SSEE HAS EXECUTED ADVANCE PRICING AGREEMENT WITH CENTRAL BOARD OF DIRECT TAXES (CBDT). THE ISSUES RAISED IN THE APPEAL FOR THE ASSESSMENT YEAR 2011-12 BY THE ASSESSEE ARE COVERED BY THE SAID AGREEMENT. THEREFORE , THE ASSESSEE WISHES TO WITHDRAW THE APPEAL. 2.2 THE LD. AR FURTHER SUBMITTED THAT IN THE CROSS APPEAL FILED BY THE DEPARTMENT, THE DEPARTMENT HAS PRIMARILY ASSAILED THE O RDER OF DISPUTE RESOLUTION PANEL (DRP) IN EXCLUDING CERTAIN COMPANIES FROM THE LIST OF COMPARABLES. THE GROUNDS RAISED BY THE DEPAR TMENT IN APPEAL ARE ALSO ADDRESSED IN THE AFORESAID AGREEMENT EX ECUTED BY THE ASSESSEE. THE LD. AR PLACED ON RECORD A COPY OF ADVAN CE PRICING AGREEMENT DATED 18-07-2016. 3. SHRI M.K. GAUTAM REPRESENTING THE DEPARTMENT SUBMITTE D THAT IN VIEW OF ADVANCE PRICING AGREEMENT EXECUTED BY THE A SSESSEE WITH CBDT, THE DEPARTMENT HAS NO OBJECTION IN CASE THE ASSE SSEE WISHES TO WITHDRAW THE APPEAL. 3 ITA NOS. 479 & 625/PUN/2016 4. WE HAVE HEARD THE SUBMISSIONS MADE BY THE REPRESEN TATIVES OF RIVAL SIDES. THE LD. AR OF THE ASSESSEE HAS FILED AN APPLICATIO N TO WITHDRAW THE APPEAL FILED BY ASSESSEE IN VIEW OF ADVANCE PRICING AGREEMENT EXECUTED BY THE ASSESSEE WITH CBDT. THE RELEVANT EXTRACT OF THE APPLICATION DATED 30-09-2016 FILED BY THE ASSESSEE READS AS UNDER : WE REFER TO THE APPEAL FILED BY THE APPELLANT BEFOR E THE HON'BLE INCOME- TAX APPELLATE TRIBUNAL ('ITAT') AGAINST THE ORDER O F THE ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE 13 IN PURSUANCE O F DIRECTIONS ISSUED BY DISPUTE RESOLUTION PANEL ('DRP') FOR AY 2011-12 (COPY OF ACKNOWLEDGED FORM 36B ATTACHED HEREWITH AS APPENDIX I. IN THIS REGARD, WE WISH TO INFORM YOUR HONORS THAT THE ADVANCE PRICING AGREEMENT ('THE AGREEMENT') HAS BEEN SIGNED BETWEEN THE CENTRAL BOARD OF DIRECT TAXES AND THE APPELLANT AND AY 2011-12 IS COVERED UNDER THE AGREEMENT. THE APPEAL FILED WITH THE HON'BLE ITAT F OR THE YEAR UNDER CONCERN IS ALSO COVERED UNDER THE AGREEMENT. RULE 10RA( 4) OF THE INCOME-TAX RULES PROVIDES THAT IN CASE AN APPEAL HAS BEEN FILED BEFORE THE HON'BLE ITAT ON THE ISSUE WHI CH IS THE SUBJECT MATTER OF THE ROLL BACK PROVISION, THE SAID APPEAL SHOULD BE WITHDRAWN BY THE APPLICANT. HENCE, THE APPELLANT HEREBY REQUESTS FOR WITHDRAWAL OF APPEAL FILED IN FORM 36B. A COPY OF THE AGREEMENT HAS BEEN ATTACHED HEREWITH AS APPENDIX II. IN VIEW OF AFORESAID FACTS, THE APPEAL OF THE ASSESSEE IS D ISMISSED AS WITHDRAWN. 5. THE LD. AR HAS STATED AT THE BAR THAT THE ISSUE RAIS ED BY THE DEPARTMENT IN ITS APPEAL ARE ALSO COVERED BY THE AFORESA ID AGREEMENT. THIS FACT HAS NOT BEEN DISPUTED BY THE LD. DR. THEREFORE, THE APPEAL OF THE DEPARTMENT IS ALSO LIABLE TO BE DISMISSED. 6. HOWEVER, WE GRANT LIBERTY TO THE DEPARTMENT TO REVIV E THE APPEAL WITHIN A REASONABLE TIME IN CASE THE GROUNDS RAISED BY TH E DEPARTMENT 4 ITA NOS. 479 & 625/PUN/2016 IN APPEAL ARE NOT ADDRESSED BY THE ADVANCE PRICING AGR EEMENT EXECUTED BETWEEN THE ASSESSEE AND CBDT. 7. IN VIEW OF THE AFORESAID FACTS, THE APPEAL OF THE ASSES SEE IS DISMISSED AS WITHDRAWN AND THE APPEAL FILED BY THE DEPARTM ENT IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AFTER HEARING OF THE APPEALS ON MONDAY, THE 09 TH DAY OF JANUARY, 2017. SD/- SD/- ( . . / R.K. PANDA) ( ! ' / VIKAS AWASTHY) #' / ACCOUNTANT MEMBER $ % #' / JUDICIAL MEMBER / PUNE; &# / DATED : 09 TH JANUARY, 2017 RK *+,%-.#/#)- / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE DISPUTE RESOLUTION PANEL-3, MUMBAI 4. THE CIT (IT/TP), PUNE 5. !'( %%)* , )* , + +,- , / DR, ITAT, B BENCH, PUNE. 6. ( . /0 / GUARD FILE. // ! % // TRUE COPY// #1 / BY ORDER, 2 3 / ASSISTANT REGISTRAR, )* , / ITAT, PUNE