2023 (8) TMI 160

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....Petitioner Through: Mr Percy J. Pardiwala, Senior Advocate with Mr Vishal Kalra and Ms Snigdha Gautam, Advocates. For the Respondent Through: Mr Prashant Meherchandani, Senior Standing Counsel. RAJIV SHAKDHER, J.: (ORAL) 1. These writ petitions concern Assessment Year (AY) 2016-17. 2. Via these writ petitions, the petitioners seek to assail the notice dated 26.03.2021 (which apparently has not....

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....2.2018 was passed qua Monet under Section 143(2) of the Act. 3.4 It appears that Monet had resorted to the provisions of the Article 13(4) of the India-Mauritius Double Taxation Avoidance Agreement (DTAA), and thus claimed that it was not exigible to levy of tax. 3.5 The Assessing Officer (AO) appears to have accepted this stand taken by Monet, and assessed it at the returned income. (See Annexu....

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.... the acceptance by the Assessing Officer of the Long-term capital gain income of Rs. 1002,92, 15,510/-in the hands of M/ s Monet Limited for the F.Y. 2015-16 is erroneous and pre-judicial [sic] to the interests of revenue. 10. Further reliance is placed on Malabar Industrial Co. Ltd. v. Commissioner of Income-tax [CIVIL APPEAL NO. 3646 OF 1993 FEBRUARY 10, 2000] where Hon'ble Supreme Court u....

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....x proceedings and any liability related to Income Tax proceedings." [Emphasis is ours] 4.1 Consequently, via this order, the CIT(A) cancelled the assessment order dated 12.12.2018, concerning Monet, directing the AO to carry out a de novo exercise. 4.2 Pertinently, the petitioner was held to be jointly and severely liable qua the proceeding, having been held as the "representative assessee". ....