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TMI Blog2022 (12) TMI 1020X X X X Extracts X X X X X X X X Extracts X X X X ..... ealt with by the AO. We have put this aspect to Ms Sethna; Ms Sethna says that while the matter can be remitted to the concerned AO, she/he should deal with the objections which have been articulated in detail in the writ petition. Apart from anything else, it is Ms Sethna s contention that the broad aspects referred to hereinabove with regard to the fact that the petitioner has in its possession a tax residency certificate, which allows it to take benefit of Article 13 of the DTAA, is a facet which is required to be dealt with by the AO. Given this position taken by the respondents/revenue, as indicated AO will take a decision with regard to whether or not this is a fit case for triggering reassessment proceedings. - W.P.(C) 126 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ates, agents from relying upon and/or taking any coercive or other steps in connection with escapement proceedings initiated against the Petitioner in pursuance of the Impugned Notice. 3. Ms Fereshte D. Sethna, who appears on behalf of the petitioner, says that the principal allegation against the petitioner is that the petitioner, which is a foreign company incorporated under the laws of Mauritius, had sold shares worth Rs.1295 crores, of an Indian company going by the name Bharti Infotel Pvt. Ltd, against which TDS was not deducted. 3.1. Ms Sethna goes on to state that the consideration was paid by another entity, namely, Bharti Enterprises (Holding) Pvt. Ltd. 4. The record shows that this transaction occurred in Financial Year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner/ assessee has not filed its return for AY 2016-2017. Therefore, in our opinion, the objections raised by the petitioner/assessee with regard to the aspects referred to hereinabove, can be dealt with by the AO. 9.1. We have put this aspect to Ms Sethna; Ms Sethna says that while the matter can be remitted to the concerned AO, she/he should deal with the objections which have been articulated in detail in the writ petition. 10. Apart from anything else, it is Ms Sethna s contention that the broad aspects referred to hereinabove with regard to the fact that the petitioner has in its possession a tax residency certificate, which allows it to take benefit of Article 13 of the DTAA, is a facet which is required to be dealt with by the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessee has furnished TRC as its proof of residence in Mauritius. But it must be appreciated that Tax residency Certificate (TRC) is not conclusive proof to determine whether the assessee is resident of Mauritius as per DTAA and whether benefit of the said DTAA would be allowed to assessee or not. The same position has been upheld by various judicial pronouncements. 12.1. Mr Agarwal says that the aforementioned observations extracted from the order passed under Section 148A(d) of the Act are only tentative and not final. 13. Given this position taken by the respondents/revenue, as indicated by us hereinabove, the AO will take a decision with regard to whether or not this is a fit case for triggering reassessment procee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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