Ita/627/2016 Of M/S Mercedes-Benz Research & Development v. Assistant Commissioner Of Income Tax

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 8 DAY OF MARCH, 2018 PRESENT HON’BLE MR.JUSTICE DINESH MAHESHWARI, CHIEF JUSTICE AND HON’BLE MR.JUSTICE S SUNIL DUTT YADAV I.T.A. NO. 627 OF 2016 BETWEEN: M/s. MERCEDES-BENZ RESEARCH & DEVELOPMENT INDIA PRIVATE LIMITED [A PRIVATE COMPANY LIMITED BY SHARES, INCORPORATED UNDER THE COMPANIES ACT, 1956] HAVING ITS OFFICES AT: WHITEFIELD PALMS PLOT NO 9 & 10, EPIP ZONE, PHASE 1, WHITEFIELD ROAD BENGALURU – 560 066. ... APPELLANT (BY SRI SANDEEP HUILGOL, ADVOCATE) AND: ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-11(1), BENGALURU. ... RESPONDENT --- THIS ITA IS FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED: 03.07.2016 PASSED IN IT(T.P.)A NO.51/BANG/2014, FOR THE ASSESSMENT YEAR 2004-2005. THIS APPEAL COMING ON FOR ORDERS THIS DAY, THE CHIEF JUSTICE, DELIVERED THE FOLLOWING: JUDGMENT In this appeal against the order dated 03.07.2016, as passed by the Income Tax Appellate Tribunal, Bengaluru Bench ‘B’ in I.T. (T.P.) A.No.51/Bang/2014, pertaining to the Assessment Year 2004-05, learned counsel for the appellant–assessee has moved a memo seeking permission to withdraw, without prejudice to its right to question the applicability of Transactional Net Margin Method as the most appropriate method in its assessments for other Assessment Years. The matter being at the initial stage and having not been admitted, we are inclined to grant the prayer so made. It goes without saying that the dismissal of this appeal on withdrawal for the Assessment Year 2004-05 does not conclude the issue sought to be raised in this matter as regards other Assessment Years. However, in the interest of justice, it is made clear that the issue remains open and may be examined in future, in accordance with law. With the observations foregoing, the appellant is permitted to withdraw and this appeal is dismissed as withdrawn. Sd/- CHIEF JUSTICE Sd/- JUDGE ca