US Technology International P Ltd, Trivandrum V. The dCIT, Trivandrum

ITTPA 2/COCH/2020

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 5259 (ITAT-COCHIN)
• Duration Of Justice: 1 year(s) 11 month(s) 11 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 06-02-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 26-02-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: NITHIN JOSE

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri George Mathan, JM & Shri B.R. Baskaran, AM IT(TP)A No. 02/Coch/2020 (Assessment Year: 2012-13) M/s US Technology International Private Limited 721, Nila Technopark Campus Kariavattom Trivandrum 695581 Vs. DCIT, Circle - 1(1) Aayakar Bhavan Kowdiar Thiruvananthapuram PAN – AAACU5628B Appellant Respondent SP No. 112/Coch/2020 (in IT(TP)A No. 02/Coch/2020) (Assessment Year: 2012-13) M/s US Technology International Private Limited 721, Nila Technopark Campus Kariavattom Trivandrum 695581 Vs. DCIT, Circle - 1(1) Aayakar Bhavan Aayakar Bhavan Kowdiar Thiruvananthapuram PAN – AAACU5628B Appellant Respondent Appellant by: Shri Nithin Jose Respondent by: Smt. J.M. Jamuna Devi, Sr. DR Date of Hearing: 07.02.2022 Date of Pronouncement: 07.02.2022 O R D E R Per: George Mathan, JM This appeal filed by assessee is directed against the directions under Section 14cC(5) of the Income Tax Act, 1961 of the Dispute Resolution Panel -2, Bengaluru dated 17.12.2019 for A.Y. 2012-13. The assessee has also filed a stay petition for staying the recovery of demand of tax and interest. 2. Shri Nithin Jose appeared on behalf of the assessee and Smt. J.M. Jamuna Devi appeared on behalf of Revenue. SP No. 02/Coch/2020 M/s US Technology International Pvt. Ltd. 2 3. At the time of hearing the learned A.R. for the assessee submitted that the assessee is withdrawing the appeal as the assessee has opted for Vivad Se Vishwas Scheme. He also submitted Form 3 issued under Section 5(1) of Direct Taxes Vivad Se Vishwas Act, 2020. 4. The learned DR has not raised any objection to the request made by the assessee. 5. In view of the request made by the learned A.R. for withdrawal of the appeal, the appeal is dismissed as withdrawn. 6. Since we have dismissed the appeal of the assessee the Stay Petition has become infructuous, hence dismissed. Dictated and pronounced in the open Court on 7 th February, 2022. Sd/- Sd/- (B.R. Baskaran) (George Mathan) Accountant Member Judicial Member Cochin, Dated: 7 th February, 2022 Copy to: 1. The Appellant 2. The Respondent 3. DRP-2, Bengaluru 4. The Pr.CIT - Concerned 5. The DR, ITAT, Cochin 6. Guard File By Order //True Copy// Assistant Registrar ITAT, Cochin n.p.