M/s. Ikanos Communications (India) Private Limited, Bangalore V. Deputy Commissioner Of Income Tax, Circle-11(4), Bangalore

ITTPA 81/BANG/2014

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 2525 (ITAT-BANGALORE)
• Duration Of Justice: 6 year(s) 9 month(s) 2 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 27-11-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2009-2010
• Appeal Filed On: 24-02-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Transfer pricing
• Section: 143(3); 144C

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH I-2, NEW DELHI BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCING) IT(TP)A NO.75/BANG/2014 (FOR ASSESSMENT YEAR : 2009-10) DY. COMMISSIONER OF INCOME TAX, CIRCLE 11(4), 5 TH FLOOR, RASTROTHANA BHAVAN, NRUPATHUNGA RD. VS. M/S. IKANOS COMMUNICATIONS (INDIA) PVT. LTD., III FLOOR, CORPORATE MILLER, NO.332/1, THIMMAIAH ROAD, VASANTH NAGAR, BANGALORE 560 052 PAN : AABCI 1928 F (APPELLANT) (RESPONDENT) AND IT(TP)A NO.81/BANG/2014 (FOR ASSESSMENT YEAR : 2009-10) M/S. IKANOS COMMUNICATIONS (INDIA) PVT. LTD., III FLOOR, CORPORATE MILLER, NO.332/1, THIMMAIAH ROAD, VASANTH NAGAR, BANGALORE 560 052 VS. DY. COMMISSIONER OF INCOME TAX, CIRCLE 11(4), 5 TH FLOOR, RASTROTHANA BHAVAN, NRUPATHUNGA RD. (APPELLANT) (RESPONDENT) ASSESSEE BY MS. GAYATRI DUTT, ADV. MS. ANKITA AGARVAL, ADV. REVENUE BY SHRI SUNIL KUMAR, CIT-DR IT(TP)A NO. 75 & 81/BANG/2014 PAGE | 2 DATE OF HEARING: 24.11.2020 DATE OF PRONOUNCEMENT: 27 .11.2020 ORDER PER ANIL CHATURVEDI, AM: THESE CROSS APPEALS FILED BY THE ASSESSEE AND REVENUE ARE DIRECTED AGAINST THE ORDER OF THE DEPUTY COMMISSIONER OF INCOME TAX (TRANSFER PRICING)-V, BANGALORE PASSED UNDER SECTION 143(3) R.W.S 144C PURSUANT TO THE DIRECTION OF DEPUTY RESOLUTION PANEL (DRP) BANGALORE ORDER DATED 19.11.2013 FOR ASSESSMENT YEAR 2009-10. 2. BEFORE US, ASSESSEE HAS MOVED AN APPLICATION DATED 9 TH SEP 2020 WHEREIN THE ASSESSEE HAS STATED THAT IT INTENDS TO SETTLE THE LITIGATION UNDER VIVAD SE VISHWAS SCHEME (VSV). IT HAS FURTHER BEEN STATED THAT ASSESSEE HAS FILED INITIAL DECLARATION FOR OPTING THE VSV (FORM-1) AND THE SUBSEQUENT UNDERTAKING FOR VOLUNTARILY WAIVING RIGHTS TO PURSUE ANY REMEDY FOR THE CAPTIONED APPEALS (FORM-2) ON 1 ST APRIL 2020 AND ASSESSEE IS AWAITING RECEIPT OF FORM NO.3 FROM THE DESIGNATED AUTHORITY. THE ASSESSEE THUS SEEKS WITHDRAWAL OF THESE APPEALS. LEARNED DR FOR THE REVENUE HAS NO OBJECTION TO THE SAME. 3. AFTER CONSIDERING THE REQUEST MADE BY THE ASSESSEE, WE ALLOW THE ASSESSEE TO WITHDRAW ITS APPEAL SUBJECT TO A CAVEAT THAT IN CASE THE DISPUTE RELATING TO TAX ARREARS FOR THE CAPTIONED IT(TP)A NO. 75 & 81/BANG/2014 PAGE | 3 ASSESSMENT YEAR IS NOT ULTIMATELY RESOLVED IN TERMS OF THE AFORESAID ACT, THE ASSESSEE SHALL BE AT LIBERTY TO APPROACH THE TRIBUNAL FOR REINSTITUTION OF THE APPEAL AND THE TRIBUNAL SHALL CONSIDER SUCH APPLICATION APPROPRIATELY AS PER LAW. WITH THESE DIRECTIONS THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. 4. THE CROSS APPEAL BY THE REVENUE IS ALSO DISMISSED. HOWEVER, IF THE ASSESSEE FAILS TO SETTLE THE DISPUTE UNDER VSV SCHEME THEN THE REVENUE MAY ALSO APPROACH THE TRIBUNAL FOR THE REVIVAL OF ITS APPEAL. WITH THESE DIRECTIONS ALL THESE APPEALS ARE DISMISSED. 5. IN THE RESULT, BOTH THE APPEALS ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 27.11.2020 SD/- SD/- (SUCHITRA KAMBLE) (ANIL CHATURVEDI) JUDICIAL MEMBER ACCOUNTANT MEMBER *PRITI YADAV, SR.PS* DATE- 27.11.2020 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI