9911796707
TMI Blog2022 (3) TMI 1419X X X X Extracts X X X X X X X X Extracts X X X X ..... f Secretary General of Taxation - HELD THAT:- As letter of Secretary General of Taxation, which goes to the core of controvery, it was observed in para no. 26 that the clarification given by Secretary General of Taxation has to be regarded as conclusive. If the tax authorities had any doubts they could not have proceeded to elevate them into findings, but rather addressed them to Omani Authorities, if not directly then through Indian Diplomatic Channels. In not doing so, but proceeding to interpret the laws and the certificate of Omani Authorities, the revenue, specially the Commissioner fell into error. In assessee s own case of AY 2010-11 [ 2016 (11) TMI 1360 - ITAT DELHI ] a Cordinate Bench has held It is seen from the assessment ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unds available with the assessee, thus no amount of Interest on such borrowings can be notionally disallowed under Section 36(l)(iii). Revenue appeal dismissed. - ITA No. 294/Del/2018 - - - Dated:- 25-3-2022 - Sh. N.K. Billaiya, Accountant Member And Sh. Anubhav Sharma, Judicial Member For the Assessee : Shri Tarandeep Singh, Adv. For the Revenue : Ms. Anupama Anand, CIT-DR. ORDER PER ANUBHAV SHARMA, JM: The appeal is preferred by the revenue against order dated 13.10.2017 in appeal no. 85/17-18 / 90/16-17 in regard to assessment year 2012-13 passed by Commissioner of Income Tax (Appeals)-31, New Delhi (hereinafter referred to as the First Appellate Authority or in short FAA) by which appeal aga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the assessee in either of the country. 2) WHETHER on the facts and in the circumstances of the case the Ld.CIT(A)-31, New Delhi was justified in relying upon the order of Hon ble ITAT wherein Hon ble ITAT had accepted the letter of Secretary General of taxation that interpreted the Article 25(4) of DTAA which is within the domain of two Governments and thus inserted words designed for economic development in Omani Tax Law whereas such words do not exist in Omani Law? 3) WHETHER on the facts and in the circumstances of the case the Ld.CIT(A) was justified in relying upon the order of Hon ble ITAT wherein Hon ble ITAT had relied on the letter of the Secretary General for Taxation Oman,which could only be construed to be h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peal at a later stage. 4. In regard to all the grounds it was submitted on behalf of revenue that the ld. F.A.A. has failed to take note of correct position of law and gave benefit to the assessee on the basis of letter of Secretary General of Taxation. 4.1 The Ld. Counsel for assessee submitted in regard to grounds of appeal no 1 to 3 that Ld. AO had erred in adding dividend income of Rs. 257,21,23,225/- from M/s. OMIFCO by making it taxable in India. It was submitted that in regard to chargeability the findings of CIT(A) have become final as the assessee s appeal ITA No. 7322/Del/2017 has been settled under VSVS and withdrawn 20.11.2020 but in regard to the claim of credit the case of assessee is covered by the judgment of H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5.2 Further in assessee s own case of AY 2010-11 vide ITA no 2487/Del/2016 a Cordinate Bench vide order dated 19/9/16 has held It is seen from the assessment orders u/s.143(3) for the assessment years 2008-09 to 2009- 10 that the Revenue had consistently adopted the view that the assessee is entitled to tax credit on the deemed dividend which would have been payable in Oman. The Revenue had taken a conscious view after considering the provisions ITA NO. 2487/DEL/2016 55 of the Omani Tax Laws, Section 90 of the I.T. Act, Article-25 of the DRAA and the clarifications issued by the Royal decree of the Omani Government. Copies of the assessment orders for A.Ys. 2007-08 to 2009- 10 have been placed before us from pages 495 to 558 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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