Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (4) TMI 865 - HC - Income TaxDemand - Assessee in default - Commission - Revise return - Re-opening of assessment - two petitioners viz., Ravina and Associates Private Limited and Ravina Khurana have accepted and admitted their liability to pay tax including the amounts/incomes deposited in their bank accounts in NatWest Bank, London - the money in the NatWest Bank, London is subject matter of the restraint order passed by the court of U.K. on the letter of rogatory of the Special Judge, Delhi - The facts of the present case do not compel and commend us to accept the contention of the petitioners Regarding applicability of section 220(7) - In the present case, income had arisen in Russia and not in U.K - The petitioners have not relied upon, claimed or stated that there was any bar and embargo in the laws of Russia against the remittance of the said income to India - In fact, it cannot be so pleaded because admittedly payments have been made by the Russian company to the petitioners and have been deposited abroad in a third country in the NatWest Bank, London - Nothing prevented or prohibited the petitioners from bringing the proceeds to India, but the petitioners-assessees by their own conduct have slashed away and kept the money in their bank accounts in London - In the result the writ petition are dismissed
|