2023 (8) TMI 869

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.... submitted that all the grounds of appeal in IT(TP)A No. 614/Bang/2020 is withdrawn for the reason that the resolution has been arrived at between Indian and US Competent Authorities in respect of the Transfer Pricing issues raised by the assessee before the Tribunal:- 3. For easy of reference , copy of MAP resolution is reproduced below:- 4. Accordingly, the appeal is dismissed as withdrawn. 5. The appeal by the department is with regard to CIT(Appeals) holding certain expenses to be part of operating cost of the assessee for the purpose of TP adjustment. Since the MAP resolution entered into with competent authorities covers the TP adjustment as reproduced above, the appeal of the revenue has become infructuous and accordingly di....

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....been arrived between the Indian and US Competent Authorities ("CA") on 16 February 2023 (copy enclosed as Annexure 1) in respect of the transfer pricing issues raised by the Appellant before this Hon'ble Tribunal in the present appeal. The Appellant proposes to accept the said resolution under Article 27 of the India-US Double Tax Avoidance Agreement ("DTAA") with respect to its Software Development ("SWD") Services and Information Technology enabled Services ("ITeS") rendered to the Associated Enterprises ("AE"). As per Rule 44G of the Income-tax Rules, 1962 ("IT Rules"), orders giving effect to the MAP resolution shall be passed by the Learned Assessing Officer once all appeals are withdrawn by the Appellant on ....

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....g you of our full co-operation at all times. For Target Corporation India Private Limited, Dlucubal Navita Chaubal Director Corporation Target Target India Bangalore India Pvt. Ltd Enclosed: MAP resolution CC: Departmental Representative Document 4 480/19/2019-APA-1 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Foreign Tax & Tax Research Division - I APA-I Section 9068, 9 Floor, C Wing Hudco Vishala Building 14. Bhikaji Cama Place, New Delhi-110066 Dated: February 16, 2023 To Target Corporation India Private Limited, Survey No. 2/1.2/2.2/3,5/1 Embassy Golf Link Business Park, Indiranagar, Koramangala Inte....

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.... 23.27 37467.56270 2564.40.097 374,67 56.270 25.64.40.097 Corporation 16 India Private Umiled Indian CA Indian Taxpayer AY Operating Revenue Cost SWD SERVICES US RELATED TRANSACTIONS Operating Delermined Arm's Length ADJUSTMENTS 2015-16 6.67.43.81.512 5.8475.29,181 Margin 18.29 Price 4.91.70.42.268 24,26,60,756 Target Corporation India Private Limited Indian Taxpayer AY Torget Corporation India Private Umiled ITES SERVICES US RELATED TRANSACTIONS Determined Margin 16.79 Arm's Length ADJUSTMENTS Price 3.57.04.05.711 8.10.07.453 Operating Revenue Operating Cost 2015-16 3.48.93,98,258 3.05,71,15,944 Document 6 4. ....