M/s.Allianz Technology SE(earlier known as Allianz Managed operations ServicesSE)Germany, Germany V. The DCIT, Trivandrum

ITTPA 3/COCH/2021

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 5152 (ITAT-COCHIN)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 21-02-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: misc
• Appeal Filed On: 27-02-2022
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHANTHAM BOSE
• Keywords: Business expenditure

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri George Mathan, JM & Shri Ramit Kochar, AM IT(TP)A No. 03/Coch/2021 (Assessment Year: 2017-18) M/s.Allianz Technology SE (formerly Allianz Managed Operations Services SE) Koniginstrasse 28 Munich, Germany Vs. DCIT, Circle INTL TXN 1st Floor, Aayakar Bhavan Koniginstrasse 28 Munich, Germany PAN – AAKCA4126C Appellant Respondent Appellant by: Withdrawal Application Respondent by: Shri Shantham Bose, CIT-DR Date of Hearing: 22.02.2022 Date of Pronouncement: 22.02.2022 O R D E R Per: George Mathan, JM This is an appeal filed by the assessee against the directions under Section 144C(5) of the Income Tax Act, 1961 of the Dispute Resolution Panel-2, Bengaluru in F.No.153/DRP-2/BANG/20189-20 dated 05.02.2021 for AY 2017-18. 2. At the time of hearing the assessee has filed a letter requesting that it wish to withdraw the appeal on account of amendment proposed in the Finance Bill 2022 which states that education cess is a part of tax and would not be allowable as a business expenditure under Section 40(a)(ii) of the Income Tax Act, 1961 (applicable with retrospective effect from 01.04.2005). Considering the request of the assessee the appeal filed by the assessee stands dismissed as withdrawn. IT(TP)A No. 03/Coch/2021 M/s.Allianz Technology SE 2 3. In the result, the appeal filed by the assessee is dismissed as withdrawn. Dictated and pronounced in the open Court on 22 nd February, 2022. Sd/- Sd/- (Ramit Kochar) (George Mathan) Accountant Member Judicial Member Cochin, Dated: 22 nd February, 2022 Copy to: 1. The Appellant 2. The Respondent 3. The DRP-2, Bengaluru 4. The CIT - concerned 5. The DR, ITAT, Cochin 6. Guard File By Order //True Copy// Assistant Registrar ITAT, Cochin n.p.