2020 (2) TMI 1688 - AT - Income Tax

Assessment u/s 144C - APA between the assessee and the CBDT with reference to the TP issues - HELD THAT - As pointed by assessee that the assessee has submitted two separate letters before the Registry of this Tribunal on 29.01.2020 in which it is submitted by the Managing Director of the assessee company that the assessee wants to withdraw the grounds of appeal filed on 29.02.2016 for Assessment Year 2011-12 and filed on 22.12.2017 for AY 2013-14 because the assessee has entered into a Unilateral APA with the Central Board of Direct Taxes under section 92CC of the Income Tax Act 1961 and the assessee has also enclosed a copy of the said agreement for both the years. Appeals of the assessee are dismissed as withdrawn.

Summary

The Appellate Tribunal ITAT Bangalore dismissed the appeals filed by the assessee against two separate assessment orders due to the assessee's withdrawal of grounds of appeal after entering into a Unilateral APA with the Central Board of Direct Taxes under section 92CC of the Income Tax Act, 1961.