Transfer pricing appeals settled through Mutual Agreement Procedure; other issues deferred for potential resolution.

The appeals concerning transfer pricing adjustments with AEs in the USA were settled through the Mutual Agreement Procedure, resulting in their dismissal. Other issues involving transfer pricing adjustments with non-USA AEs and corporate tax grounds were deferred for potential resolution under the Vivad se Vishwas Scheme. The corporate tax grounds related to book profit computation and disallowance under sections 115JB and 14A of the Act were acknowledged by the Tribunal. All appeals were dismissed as withdrawn, granting the assessee the opportunity to revive them if unable to settle under the scheme.

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Issues:
- TP adjustment with AEs in the USA
- TP adjustment with non-USA AEs
- Corporate tax grounds relating to computation of book profit u/s 115JB
- Disallowance u/s 14A of the Act
- Settlement under Vivad se Vishwas Scheme

TP Adjustment with AEs in the USA:
The appeals were filed against orders framed under section 143(3) r.w.s 144C of the Income Tax Act for A.Ys 2006-07, 2007-08, and 2008-09. The main issue in all appeals was the TP adjustment made to transactions with AEs in the USA. The dispute regarding TP adjustment with USA AEs was settled by the Mutual Agreement Procedure (MAP), as confirmed by communications from the Government of India. Consequently, the appeals related to this issue were dismissed as withdrawn.

TP Adjustment with Non-USA AEs and Corporate Tax Grounds:
Apart from the USA AEs issue, the appeals also concerned TP adjustments with non-USA AEs and corporate tax grounds. The assessee expressed intentions to settle these disputes under the Vivad se Vishwas Scheme. The Tribunal dismissed these grounds as withdrawn, with the assessee having the liberty to revive the appeals if unable to settle under the scheme due to technical reasons.

Corporate Tax Grounds:
Specifically, in A.Y 2006-07, there was a corporate tax ground related to the computation of book profit u/s 115JB. For A.Y 2007-08 and 2008-09, in addition to the main grounds, corporate tax grounds related to disallowance u/s 14A of the Act. The Tribunal acknowledged the assessee's plans to resolve these issues under the Vivad se Vishwas Scheme.

Conclusion:
All three appeals by the assessee were dismissed as withdrawn, with the TP adjustment issue with USA AEs settled and the other issues deferred for potential resolution under the Vivad se Vishwas Scheme. The order was pronounced on 28.10.2020.

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