Ita/601/2016 Of M/S Mercedes Benz Research v. Assistant Commissioner Of Income - Tax

IN THE HIGH COURT OF KARNATAKA AT BENGALURUON THE 2/ DAY OF NOVEMBER, 201383 BEFORE. THE HON'BLE MR. JUSTICE RAVI MALIMATH AND THE HON’BLE MR. JUSTICE K.NATARAJAN |INCOME TAX APPEAL NO.601 OF 2016ANDINCOME TAX APPEAL NO.10/4 OF 2ZOL BEI|WEEN M/S MERCEDES BENZ RESEARCH |AND DEVELOPMENT INDIA PRIVATE LIMITED(A PRIVATE COMPANY LLIMITED BY SHARESINCORPORATED UNDER THE COMPANIES ACT, 1956)HAVING ITS OFFICES AT:WHITEFIELD PALMS PLOT NO.S & 10EPIP ZONE, PHASE 1, WHITEFIELD ROAD.BENGALURU-560066 — APPELLANT| (BY SRI:K.MALLAHARAO ANDSRI:S.N.ARAVINDA, ADVOCATES) AND" ASSISTANT COMMISSIONER OF INCOME TAXCIRCLE-4(1)(2), BENGALURU ~.. RESPONDENT (BY SRI:JEEVAN J NEERALGI, ADVOCATE). THESE INCOME TAX APPEALS ARE FILED UNDERSECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT|OF ORDER DATED 24.06.2016 PASSED IN_ IT(TP)ANO.291/BANG/2015||APPELLANT-ASSESSE §APPEAL|ANDIN|IT(TP)ANO.427/BANG/2015|RESPONDENT/ASSESSING OFFICERS APPEAL|, FOR.THE ASSESSMENT YEAR 2010-11, PRAYING THIS HON BLECOURT TO: (I) ADMIT THE INSTANT APPEAL TO ANSWER.THE SUBSTANTIAL QUESTIONS OF LAW SET OUT IN PARA|29 ABOVE; (II) SET ASIDE IMPUGNED ORDER AT.ANNEXURE ‘A’ PASSED BY THE INCOME-TAX APPELLATE|TRIBUNAL TO THE EXTENT IT REJECTS APPELLANT S|SELECTION OF COST PLUS METHOD ("CPM )/COMPARABLE UNCONTROLLED PRICE (CUP) METHOD AND UPHOLDS|SELECTION OF TRANSACTIONAL NET MARGIN METHOD.(CTNMM’) BY TPO AS MOST APPROPRIATE METHOD,(MAM) AND FURTHER TO THE EXTENT IT PERMITS)INCLUSION OF INFOSYS LIMITED AS A COMPARABLE TO.APPELLANT-ASSESSEE IN IT(TP)A NO.291/BANG/2015||APPELLANT-ASSESSE'SAPPEAL] |AND|IN|IT(TP)ANO.427/BANG/2015||RESPONDENT/ASSESSINGOFFICER'S|APPEAL |]BEFORE|THE|TRIBUNALFOR|ASSESSMENT YEAR 2010-11; DATED 24.06.2016 AND(III) PASS SUCH FURTHER AND OTHER ORDERS IN)FAVOUR OF THE APPELLANT AS THIS HON BLE COURT MAY.DEEMFITTO|GRANT,|INTHE|FACTSANDCIRCUMSTANCES OF THE CASE, AND IN THE INTERESTS|OF JUSTICE AND EQUITY. OK OOK THESE INCOME TAK APPEALS COMING ON FOR|HEARING THIS DAY, RAVI MALIMATH J., DELIVERED THEFOLLOWING: C JUDGMENT In view of the memo filed in the Court today, the appeals are dismissed as withdrawn. SD/- |JUDGE SD/-| JUDGE *pgn/-|