M/s. Citizen Watches(India) Pvt. Ltd., Bangalore V. Assistant Commissioner of Income Tax, Circle - 2(1)(1), Bangalore

ITA 629/BANG/2017

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 7030 (ITAT-BANGALORE)
• Duration Of Justice: 3 year(s) 5 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-09-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 08-09-2020
• Assessment Year: misc
• Appeal Filed On: 17-03-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: K R VASUDEVAN
• Section: 143(3); 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES A BENCH: BANGALORE BEFORE SHRI GEORGE GEORGE K, JUDICIAL MEMBER AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER IT (TP) A NO. 629 /BANG/201 7 (ASSESSMENT YEAR: 20 12 - 13 ) M/S. CITIZEN WATCHES (INDIA) PVT. LTD., NO.299, 6 TH MAIN, HAL 2 ND STAGE, INDIRANAGAR, BANGALORE - 560 038 .APPELLANT VS. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(1)(1), BANGALORE. RESPONDENT. ASSESSEE BY: SHRI K.R. VASUDEVAN, ADVOCATE. REVENUE BY: SHRI SUNIL KUMAR SINGH, CIT (D.R) DATE OF HEARING : 08.09 .20 20. DATE OF PRONOUNCEMENT : 09 .09 .20 20. O R D E R PER SHRI GEORGE GEORGE K , JM : TH IS APPEAL AT THE INSTANCE OF ASSESSEE IS DIRECTED AGAINST THE ASSESSMENT. ORDER PASSED UNDER SECTION 143(3) R.W.S. 144C(13) OF THE INCOME TAX ACT, 1961 ('THE ACT'). THE RELEVANT ASSESSMENT YEAR IS 20 11 - 12. 2. THE LEARNED AUTHORISED REPRES ENTATIVE SUBMITTED THAT THE ASSESSEE HAS ENTERED INTO ADVANCE PRICING AGREEMENT (APA) UNDER SECTION 92CC OF THE ACT AND FURNISHED A COPY BEFORE US. THE LEARNED AUTHORISED REPRESENTATIVE IS SEEKING WITHDRAWAL OF THE APPEAL UNDER CONSIDERATION VIDE ASSESSE E'S LETTER DT.27.01.2020 IN 2 IT (TP) A NO. 629/BANG/2017 VIEW OF THE APA, PLACED IN THE FILE. THE LEARNED DEPARTMENTAL REPRESENTATIVE HAS NO OBJEC TION FOR WITHDRAWING THE APPEAL BY THE ASSESSEE. 3. WE HAVE HEARD RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. AS PER THE REQUEST OF ASSESSEE FOR WITHDRAWAL OF G ROUNDS OF APPEAL IN THIS APPEAL WE ARE INCLINED TO AGREE FOR THE SAME AND TREAT THE GROUNDS DISMISSED AS WITHDRAWN. 4. IN THE RESU LT, APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. PRONOUNCED IN THE OPEN C OURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/ - SD/ - ( B.R. B ASKARAN ) ( GEORGE GEORGE K ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 09 .09.2 0 20 . *REDDY GP COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT (A) 4. PR. CIT 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME - TAX APPELLATE TRIBUNAL BANGALORE