Income Tax Appellate Tribunal - Mumbai
Bt Global Communications India P.Ltd, ... vs Asst Cit Cir 9(2)(1), Mumbai on 26 April, 2018
IN THE INCOME TAX APPELLATE TRIBUNAL
"K" BENCH, MUMBAI
BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND
SHRI RAJESH KUMAR, ACCOUNTANT MEMBER
ITA no.1770/Mum./2015
(Assessment Year : 2010-11)
BT Global Communications
India Pvt. Ltd., 502, 5th Floor
Rajeha Titamium, Western Express ................ Appellant
Highway, Mumbai 400 063
PAN - AAACG1534A
v/s
Asstt. Commissioner of Income Tax
................ Respondent
Circle-9(2)(1), Mumbai
Assessee by : Ms. Jasmin Amalsadvala
Revenue by : Shri Saurabh Deshpande
Date of Hearing - 26.04.2018 Date of Order - 26.04.2018
ORDER
PER SAKTIJIT DEY, J.M.
This is an appeal by the assessee against assessment order passed under section 143(3) r/w section 144C of the Income Tax Act, 1961 (for short "the Act"), in pursuance to the directions of the Dispute Resolution Panel, for the assessment year 2010-11.
2. The grounds raised by the assessee pertain to transfer pricing adjustment made by the Transfer Pricing Officer. The assessee, through, one of its directors Shri Pawan Kumar Khandelwal, has filed 2 BT Global Communications India Pvt. Ltd.
letter dated 26th February 2018 in the Registry stating that the assessee has filed an application under Article 27 of the India-U.K. Double Taxations Avoidance Agreement (DTAA) for initiation of Mutual Agreement Procedure (MAP) before the Indian and U.K. competent authorities with respect to the issues raised in the appeal before the Tribunal. It is stated by the assessee that a resolution has been arrived at between the Indian and U.K. competent authorities on the issues raised in the present appeal, in terms of Article 27 of the India- U.K. DTAA, which has been accepted by the assessee as per letter of acceptance dated 15th February 2018. Further, it is stated, as per rule 44H of the Income Tax Rules, 1962, orders giving effect to MAP resolution can be passed by the Assessing Officer once all the appeals are withdrawn by the assessee on the issues resolved under MAP. Thus, it is stated by the assessee, for the aforesaid reasons, the assessee seeks withdrawal of the present appeal in entirety.
3. The learned Departmental Representative has no objection with regard to the withdrawal appeal by the assessee. In view of the above, we permit the assessee to withdraw the present appeal on the basis of the reasons stated in the letter referred to above. Accordingly, the appeal filed by the assessee is dismissed as withdrawn. 3
BT Global Communications India Pvt. Ltd.
4. In the result, assessee's appeal is dismissed.
Order pronounced in the open Court on 26.04.2018 Sd/- Sd/-
RAJESH KUMAR SAKTIJIT DEY
ACCOUNTANT MEMBER JUDICIAL MEMBER
MUMBAI, DATED: 26.04.2018
Copy of the order forwarded to:
(1) The Assessee;
(2) The Revenue;
(3) The CIT(A);
(4) The CIT, Mumbai City concerned;
(5) The DR, ITAT, Mumbai;
(6) Guard file.
True Copy
By Order
Pradeep J. Chowdhury
Sr. Private Secretary
(Asstt. Registrar/Sr.P.S)
ITAT, Mumbai