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2011 (8) TMI 344 - HC - Income TaxAssessment of non-resident - Representative assessee (agent) - Notice u/s 163 - Capital gains arising from the transfer of shares - The transfer of shares of a holding company (which through downstream companies) controlled indirectly shares in a company was GE Capital International Services - Held that:- Merely because shares relate to the respondent company, that would not make respondent as agent qua deemed capital gain purportedly earned by the petitioner - But that by itself would not be sufficient for the Revenue to sail through. - Even if business connection is proved, it would at the most make the respondent No.4 an agent of the petitioners and in that eventuality, the Income Tax Department can treat the respondent No.4 as representative assessee of the first petitioner. However, in order to assess a particular income, it has to be further established by the Department that the respondent No.4 had some connection with the income earned by the first petitioner which is sought to be taxed at the hands of the respondent No.4. - writ petition is maintainable - Impugned show cause notices are hereby quashed and this writ petition is allowed
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