Microchip Technology (India) Private Limited , Bangalore V. Deputy Commissioner of Income Tax Circle-4(1)(2), Bangalore

ITTPA 36/BANG/2017

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 9677 (ITAT-BANGALORE)
• Duration Of Justice: 1 year(s) 3 month(s) 27 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 02-05-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 05-01-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: VANDANA SAGARCIT
• Assessee Lawyers: SHILPA JAIN GANGNAL
• Keywords: Transfer pricing; International transaction
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH A BEFORE S HRI N.V. VASUDEVAN , JUDICIAL MEMBER AND SHRI JASON P BOAZ , ACCOUNTANT MEMBER I.T . (T.P) A. NO. 36 /BANG/20 17 (ASSESSMENT YEAR : 20 12 - 13 ) M/S. MICROCHIP TECHNOLOGY (INDIA) PVT. LTD., NO .149B, EPIP, IST PHASE, INDUL. AREA, WHITEFIELD, BANGALORE - 560 066 . . APPELLANT. VS. DY. COMMISSIONER OF INCOME TAX, CIRCLE 4(1)(2), BANGALORE. .. RESPONDENT. APPELLANT BY : MS. SHILPA JAIN GANGNAL, CA R E SPONDENT BY : SMT. VANDANA SAGAR,CIT (D.R) DATE OF H EARING : 2.5.2018. DATE OF P RONOUNCEMENT : 2.5. 201 8 . O R D E R PER SHRI JASON P BOAZ, A .M . : THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE FINAL ORDER OF ASSESSMENT FOR A.Y. 2 0 12 - 13 PASSED UNDER SECTION 143(3) R.W.S. ;144C(13) OF THE INCOME T AX ACT, 1961 (IN SHORT 'THE ACT') VIDE ORDER DT.8.11.2016, PURSUANT TO THE DIRECTIONS ISSUED BY THE DISPUTE RESOLUTION PANEL, BANGALORE UNDER SECTION 144C(5) OF THE ACT ON 26.9.2016. 2 IT (TP) A NO. 36 /BANG/201 7 2. AT THE OUTSET OF THE HEARING, THE LEARNED AUTHORISED REPRESENTATI VE FOR THE ASSESSEE FILED A LETTER DT.17.1.2018 ADDRESSED TO THE ITAT, A BENCH, BANGALORE REQUESTING PERMISSION TO WITHDRAW THE APPEAL FOR THIS ASSESSMENT YEAR 2012 - 13 UNDER RULE 10RA(4) OF IT RULES, 1962, SINCE THE ASSESSEE HAS ENTERED INTO UNILATERAL APA W ITH CBDT, DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, GOVT. OF INDIA ON 25.10.2017 FOR THE ROLL BACK PERIOD OF ASSESSMENT YEARS 2012 - 13 TO 2015 - 16 TO THE EXTENT OF INTERNATIONAL TRANSACTIONS WITH ITS ASSOCIATED ENTERPRISES (AES) DURING THIS PERIOD. IN THI S REGARD, IT WAS POINTED OUT THAT THE ONLY POINT OF DISPUTE IN THE INSTANT APPEAL FOR ASSESSMENT YEAR 2012 - 13 WAS TRANSFER PRICING ADJUSTMENT OF RS.3,82,90,887. IN VIEW OF THE ASSESSEE WITHDRAWING ITS APPEAL VIDE THE AFORESAID LETTER DT.17.1.2018, T HIS APPEAL FOR ASSESSMENT YEAR 2012 - 13 IS DISMISSED AS WITHDRAWN. 3. IN THE RESULT, THE ASSESSEE'S APPEAL FOR ASSESSMENT YEAR 2012 - 13 IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 2/5/ 201 8 . SD/ - (N.V. VASUDEVAN) JUDICIAL MEMBER SD/ - (J ASON P BOAZ) ACCOUNTANT MEMBER BANGALORE, DT. 2/5/2018. *REDDY GP 3 IT (TP) A NO. 36 /BANG/201 7 COPY TO : 1 APPELLANT 4 CIT(A) 2 RESPONDENT 5 DR. ITAT, BANGALORE 3 CIT 6 GUARD FILE SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL BANGAL ORE.