GE POWER CONVERSION INDIA PRIVATE LIMITED, CHENNAI V. DCIT, CC - 2(1), CHENNAI

ITTPA 3/CHNY/2020

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 6659 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 2 month(s) 29 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 01-04-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 05-05-2021
• Assessment Year: 2015-2016
• Appeal Filed On: 02-01-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: RAJESWARI.V

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH: CHENNAI . . , . , BEFORE SHRI DUVVURU R.L. REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER ./ IT (TP) A NO.3/CHNY/2020 /ASSESSMENT YEAR: 2015-16 M/S.GE POWER CONVERSION INDIA PVT. LTD., KAMAK TOWER, PLOT NO.12A(SP), THIRU VI,KA.INDUSTRIAL ESTATE, EKKADUTHANGAL, GUINDY, CHENNAI-600 032. V. THE DY. COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE-2(1), CHENNAI. [PAN: AADCC 1026 E] ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : MS.RAJESWARI.V & MR.ASHIK SHAH, CA /RESPONDENT BY : MR.R.ANITA, JCIT /DATE OF HEARING : 31.03.2021 /DT. OF PRONOUNCEMENT : 01.04.2021 / O R D E R PER DUVVURU R.L. REDDY, JUDICIAL MEMBER: THE ASSESSEE FILED THIS APPEAL AGAINST THE ORDER O F THE DISPUTE RESOLUTION PANEL-2, BENGALURU, IN F.NO.81/DRP-2-BAN G/2018-19 DATED 20.09.2019 FOR THE AY 2015-16. 2. WHEN THIS APPEAL WAS TAKEN UP FOR HEARING, THE L EARNED COUNSEL FOR THE ASSESSEE HAS SUBMITTED THAT THE ASSESSEE HAS OPTED TO AVAIL THE VIVAD-SE- VISHWAS SCHEME 2020 AND FORM NO.3 WAS ALSO ISSUED. IT HAS SUBMITTED THAT IT MAY BE PERMITTED TO WITHDRAW THE APPEAL. IT (TP) A NO.3/CHNY/2020 :- 2 -: 3. ON THE OTHER HAND, THE LEARNED DEPARTMENTAL REPR ESENTATIVE HAS NOT RAISED ANY OBJECTION TO THE SUBMISSIONS OF THE LEAR NED COUNSEL FOR THE ASSESSEE. 4. WE HAVE HEARD BOTH THE SIDES, PERUSED THE MATERI ALS AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHORITIES BELO W. 5. IN THIS CASE, THE ASSESSEE HAS OPTED FOR THE VIV AD-SE-VISHWAS SCHEME 2020 AND THE DESIGNATED AUTHORITY HAS ISSUED FORM N O.3 FOR THE SETTLEMENT OF PENDING TAX DISPUTE. ACCORDINGLY, IT PRAYED THAT I T MAY BE PERMITTED TO WITHDRAW THE APPEAL. 6. IN VIEW OF THE SUBMISSIONS OF THE ASSESSEE, THE APPEAL FILED BY THE ASSESSEE IS PERMITTED TO BE WITHDRAWN. HOWEVER, IT IS OPEN TO THE ASSESSEE TO APPROACH THE TRIBUNAL BY FILING AN APPROPRIATE APPL ICATION IN THE EVENT OF ANY INJUSTICE CAUSED TO THE ASSESSEE IN RESPECT OF THE SETTLEMENT OF DISPUTE RELATING TO THE VIVAD-SE-VISHWAS SCHEME 2020. 7. IN THE RESULT, THE APPEAL OF THE ASSESSEE IN IT (TP) A NO.03/CHNY/2020 IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON THE 1 ST DAY OF APRIL, 2021, IN CHENNAI. SD/- SD/- ( . ) (S. JAYARAMAN) / ACCOUNTANT MEMBER ( . . ) (DUVVURU R.L. REDDY) /JUDICIAL MEMBER /CHENNAI, /DATED: 1 ST APRIL, 2021. TLN ! /COPY TO: 1. /APPELLANT 4. $ /CIT 2. /RESPONDENT 5. /DR 3. $ ( ) /CIT(A) 6. /GF IT (TP) A NO.3/CHNY/2020 :- 3 -: