LM wind Power Blades (India) Private Limited, Bangalore V. Deputy Commissioner Of Income Tax, Circle - 11(5), Bangalore

ITTPA 137/BANG/2014

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 4985 (ITAT-BANGALORE)
• Duration Of Justice: 6 year(s) 7 month(s) 3 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 09-10-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 06-03-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MUZAFFAR HUSSAIN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI , JUDICIAL MEMBER IT (TP) A NO. 137 /BANG/201 4 ASSESSMENT YEAR : 2009 10 M/S LM WIND POWER BLADES (INDIA) PVT. LTD., PLOT NO. 85, KIADB INDUSTRIAL AREA, PHASE II, THIMMANAYAKHANA HALLI, DABASPET, NELAMANGALATALUK BANGALORE (RURAL DIST.) 562111 PAN : A A ACL3093R VS. DCIT CIRCLE 11 (5), BENGALURU APPELLANT RESPONDENT ASSESSEE BY : S HREE ALIASGAR RAMPURAWALA , C. A. REVENUE BY : SHREE MUZAFFAR HUSSAIN , CIT DR DATE OF HEARING : 0 6 . 1 0 .20 20 DATE OF PRONOUNCEMENT : 09 . 1 0 .20 20 O R D E R PER ARUN KUMAR GARODIA, A. M.: THIS APPEAL IS FILED BY THE ASSESSEE AND THE SAME IS DIRECTED AGAINST THE ASSESSMENT ORDER DATED 31.12.2013 PASSED BY THE AO U/S 143 (3) R.W.S. 144 (C) (5) AS PER THE DIRECTIONS OF DRP.. 2. IN COURSE OF HEARING, LEARNED AR OF THE ASSESSEE SUBMITTED THAT THE ASSESSEE WANTS TO AVAIL BENEFIT OF VIVAD SE VISWAS ACT 2020 AND THEREFORE, THIS APPEAL MAY BE KEPT IN ABEYANCE. AT THIS JUNCTURE, THE BENCH POINTED OUT THAT THIS BENCH IS TAKING A CONSISTENT VIEW THAT UNDER THESE FACTS, NO PURPOSE WILL BE SERVED BY KEEPING SUCH APPEALS PENDING AND THEREFORE, SUCH APPEALS ARE BEING DISMISSED AS WITHDRAWN AND LIBERTY IS BEING GRANTED TO THE ASSESSEE TO APPROACH THIS TRIBUNAL FOR RECALL OF THIS ORDER U/S 254 (2) OF I T ACT IN CASE ITA NO. 137 /BANG/2014 PAGE 2 OF 2 THE ASSESSEE DOES NOT FINALLY OPT FOR THIS SCHEME OR OPTS OUT OF THAT SCHEME FOR ANY REASON OR THERE IS ANY PROBLEM UNDER THAT ACT. IN REPLY, LEARNED AR OF THE ASSESSEE SUBMITTED THAT IF SUCH LIBERTY IS GRANTED THEN HE HAS NO OBJECTION TO DISMISSAL OF THE APPEAL AS WITHDRAWN WITH SUCH LIBERTY. 3. LEARNED DR OF THE REVENUE HAD NO OBJECTION ABOUT THIS PROPOSITION PUT FORWARD BY THE BENCH. HENCE, WE DISMISS THIS APPEAL AS WITHDRAWN AND GRANT LIBERTY TO THE ASSESSEE TO APPROACH THIS TRIBUNAL FOR RECALL OF THIS ORDER U/S 254 (2) OF I T ACT IN CASE THE ASSESSEE AT SOME STAGE BEFORE COMPLETION OF THE FORMALITIES UNDER THAT ACT DECIDES TO OPT OUT OF THAT SCHEME UNDER VIVAD SE VISWAS ACT OR THERE IS ANY PROBLEM UNDER THAT ACT. 4. IN THE RESULT, THIS APPEAL OF THE ASSESSEE IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/- SD/- (BEENA PILLAI) (A.K. GARODIA) JUDICIAL MEMBER ACCOUNTANT MEMBER BANGALORE, DATED: 9 TH OCTOBER, 2020. /NS/* AKG COPY TO: 1. APPELLANTS 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE.