Pegasystems Worldwide India Private Limited, Hyderabad V. DCIT, Circle 16(2), Hyderabad

ITA 80/Hyd/2022

AI Insights

The case involved Pegasystems Worldwide India Pvt. Ltd, which filed an appeal against an order passed under sections 143(3), 144C(3), and 144B of the Income Tax Act concerning the assessment year 2017-18. The appeal was related to transfer pricing adjustments proposed by the Assessing Officer/Transfer Pricing Officer regarding international transactions with associated enterprises. However, before the Tribunal could deliberate on the merits of the case, the assessee entered into an APA with the CBDT, covering the assessment years 2016-17 to 2020-21, which included the year in question. This agreement effectively nullified the basis for the appeal, leading the assessee to withdraw it.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 129814 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 4 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-08-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Assessment Year: 2017-2018
• Appeal Filed On: 20-03-2022
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: KRITHIKA
• Keywords: Transfer pricing; International transaction
• Section: 143(3)

Judgement Text

ITA-TP 80 of 2022 Pegasystems Page 1 of 2 आयकर अपीलȣय अͬधकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A ‘ Bench, Hyderabad Before Shri R.K. Panda, Vice-President AND Shri Laliet Kumar, Judicial Member ITA-TP No.80/Hyd/2022 Assessment Year: 2017-18 Pegasystems Worldwide India Pvt. Ltd, Hyderabad PAN:AAECP3453F Vs. Dy. C. I. T. Circle 16(2) Hyderabad (Appellant) (Respondent) Assessee by : Ms. Krithika, CA Revenue by: Smt. K. Haritha, DR Date of hearing: 03/08/2023 Date of pronouncement: 03/08/2023 ORDER Per R.K. Panda, Vice-President This appeal filed by the assessee is directed against the order dated 31.1.2022 passed u/s 143(3) r.w.s. 144C(3) r.w.s. 144B of the I.T. Act by the learned CIT (A)-NFAC Delhi, relating to A.Y.2017-18. 2. The learned Counsel for the assessee at the outset filed an application seeking withdrawal of the appeal the contents of which are as under: “This is with reference to the captioned appeal filed by Pega India before your Honours in respect of A.Y 2017-18. Copy of the appeal filed has been enclosed as Annexure 1. In this regard, the Appellant would like to submit that the Appellant has entered into an Advanced Pricing Agreement (“the agreement” or “APA”) with the Central Board of Direct Taxes (“CBDT”) on 27 March 2023. The Agreement is applicable to ITA-TP 80 of 2022 Pegasystems Page 2 of 2 consecutive five years commencing from Previous Year 2015-16 to Previous Year 2019-20 (relevant to A.Y 2016-17 to 2020-21). A copy of the Agreement has been enclosed as Annexure 2 for your Honour’s reference. In the subject A.Y 2017-18, the learned Assessing Officer/Learned Transfer Pricing Officer proposed transfer pricing adjustments pertaining to Pega India’s International transactions with its associated enterprise. We wish to submit that all these adjustments against which the subject appeal was preferred by Pega India will no longer sustain in view of the above-mentioned APA. Accordingly, the Appellant would like to withdraw the captioned appeal. We request you to take the above as application to withdraw appeal for A.Y 2017-18 on record and kindly oblige”. 3. In absence of any objection from the side of the learned DR, the request of the assessee seeking permission to withdraw the appeal is accepted and the appeal is dismissed as withdrawn. Order pronounced in the Open Court at the time of hearing itself i.e. on 3 rd August, 2023. Sd/- S/- (LALIET KUMAR) JUDICIAL MEMBER (R.K. PANDA) VICE-PRESIDENT Hyderabad, dated 3 rd August, 2023. Vinodan/sps Copy to: S.No Addresses 1 M/s. Pegasystems Worldwide India (P) Ltd., Building No.12A, 13 th Office Level, Mindspace, Cyberabad, Madhapur, Hyderabad 500081 2 Dy. CIT, Circle 16(2) Hyderabad 3 DR, ITAT Hyderabad Benches 4 Guard File By Order