Hetero Med Solutions Limited , Hyderabad v. Income Tax Officer, Ward-2(3), Hyderabad

ITA 1365/Hyd/2019 | 2014-2015
Pronouncement Date: 15-03-2021 | Result: Dismissed

Appeal Details

RSA Number 136522514 RSA 2019
Assessee PAN AABCH9248M
Bench Hyderabad
Appeal Number ITA 1365/Hyd/2019
Duration Of Justice 1 year(s) 6 month(s) 15 day(s)
Appellant Hetero Med Solutions Limited , Hyderabad
Respondent Income Tax Officer, Ward-2(3), Hyderabad
Appeal Type Income Tax Appeal
Pronouncement Date 15-03-2021
Appeal Filed By Assessee
Order Result Dismissed
Bench Allotted DB-A
Tribunal Order Date 15-03-2021
Last Hearing Date 04-03-2021
First Hearing Date 04-03-2021
Assessment Year 2014-2015
Appeal Filed On 30-08-2019
Judgment Text
1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A HYDERABAD (THROUGH VIRTUAL HEARING) BEFORE SHRI A. MOHAN ALANKAMONY ACCOUNTANT MEMBER AND SHRI S.S. GODARA JUDICIAL MEMBER ITA NO. 1365/HYD/2019 A.Y. 2014 - 15 HETERO MED SOLUTIONS LIMITED HYDERABAD. PAN: AABCH 9248 M VS. INCOME TAX OFFICER WARD - 2(3) HYDERABAD. (APPELLANT) (RESPONDENT) ` ASSESSEE BY: SHRI S. RAMA RAO REVENUE BY: SMT. NIVEDITA BISWAS DR DATE OF HEARING: 04/03/2021 DATE OF PRONOUNCEMENT: 15 /03/2021 ORDER PER A. MOHAN ALANKAMONY A.M: THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. PRINCIPAL COMMISSIONER OF INCOME TAX - 2 HYDERABAD IN F.NO.48/PR.CIT - 2/263(7)/2018 - 19 DATED 26/3/2019 PASSED U/S. 263 OF THE ACT FOR THE A.Y. 2014 - 17. 2. AT THE OUTSET THE LD. AR FOR THE ASSESSEE PLACED BEFORE US LETTER DATED 03/03/2021 AND SUBMITTED THAT THE ASSESSEE WAS NOT AGGRIEVED BY THE CONSEQUENTIAL ORDER PASSED BY THE LD.AO AS WELL AS BY THE 2 LD.TPO . THEREFORE THE ASSESSEE DESIRES TO WITHDRAW THE APPEAL FILED AGAIN S T THE ORDER PASSED BY THE LD.PCIT U/S.263 OF THE ACT . THE RELEVANT PORTION FROM THE LETTER (SUPRA) IS EXTRACTED HEREIN BELOW FOR REFERENCE: - THE ABOVE APPEAL IS DIRECTED AGAINST THE ORDER U/S. 263 OF THE ACT PASSED BY THE PRINCIPAL COMMISSIONER OF INCOME TAX - 2 HYDERABAD IN F.NO.48/PR. CIT - 2/263(7)/2018 - 19 DATED 26/3/2019 FOR THE A.Y. 2014 - 19. IN THE SAID ORDER THE PRINCIPAL COMMISSIONER OF INCOME TAX - 2 HYDERABAD SET ASIDE THE ORDER AND DIRECTED THAT A REFERENCE BE MADE TO THE TPO IN RESPECT OF THE DOMESTIC TRANSACTIONS WITH ASSOCIAT E ENTERPRISES. THE MATTER WAS REFERRED TO THE TPO AND THE TPO PASSED AN ORDER U/S. 92CA (3) R.W.S 263 OF THE IT ACT VIDE ORDER DATED 16/01/2021. ON ANALYSIS AND AFTER VERIFICATION OF THE INFORMATION SUBMITTED THE TPO IS OF THE VIEW THAT NO ADVERSE INFER ENCE IS DRAWN FROM THE ANALYSIS OF THE TRANSACTIONS ENTERED INTO BY THE TAX PAYER IN RESPECT OF DIGITAL DOMESTIC TRANSACTIONS. THE ASSESSEE SUBMITS THAT AT PRESENT THERE IS NO GRIEVANCE AGAINST THE ORDER PASSED BY THE TPO U/S 92CA R.W.S 263 OF THE IT ACT. THEREFORE THE APPEAL FILED AGAINST ORDER U/S. 263 MAY BE TREATED AS REDUNDANT AND APPROPRIATE ORDERS BE PASSED IN THE MATTER. 3. ON PERUSAL OF THE LETTER DATED 03/03/2021 FILED BY THE LD. COUNSEL ON BEHALF OF THE ASSESSEE - COMPANY SEEKING PERMISSION TO WITHDRAW THE PRESENT APPEAL AND ALSO CONSIDERING THE LEARNED DEPARTMENTAL REPRESENTATIVE S NO OBJECTION O N THIS REGARD WE PERMIT THE ASSESSEE TO WITHDRAW ITS APPEAL. 4 . IN THE RESULT APPEAL FILED BY THE ASSESSEE IS DISMISSED AS WI THDRAWN. PRONOUNCED IN THE OPEN COURT ON 15 TH MARCH 2021. SD/ - SD/ - (S.S. GODARA) ( A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER 3 HYDERABAD DATED: 15 TH MARCH 2021. OKK COPY TO: - 1) HETERO MED SOLUTIONS LIMITED H.NO. 7 - 2 - A2 HETERO CORPORATE INDUSTRIAL ESTATE SANATHNAGAR HYDERABAD. 2) INCOME TAX OFFICER WARD - 2(2) SIGNATURE TOWERS KOTHAGUDA JUNCTION KONDAPUR HYDERABAD. 3) THE PRINCIPAL COMMISSIONER OF INCOME TAX - 2 HYDERABAD. 4 ) THE DR ITAT HYDERABAD 5 ) GUARD FILE