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2019 (12) TMI 1316 - HC - Income TaxPrima facie findings returned by the Authority for Advance Ruling in relation to the alleged tax avoidance - HELD THAT:- It is evident that the said findings are only prima facie, which means, that they are not final and binding, and that they have not been arrived at after detailed examination of the materials placed before the authority or upon consideration of the rival submissions. It shall be open to the AO and the other statutory authorities to arrive at their own findings upon appreciation of the evidence and the materials placed on record and they should be not bound by the prima facie findings. While so observing, we also make it clear that we have not ourselves examined the merits of the said prima facie findings returned by the authority on the aspect of the tax avoidance. Issue that remains to be determined is whether the petitioner would be entitled to the benefit of the Indian-Mauritius Double Taxation Avoidance Treaty, and consequently to refund of tax deducted and paid by the purchaser of the shares in the year 2011. He, therefore, submits that the assessment proceedings may be expedited. Mr. Bhatia, Sr. standing counsel who appears on advance notice states that assessment gets time barred on 31st December, 2020. We hope and expect that the AO would expedite the assessment proceedings and would pass the assessment order preferably, on or before, 30.06.2020, subject to the petitioner co-operating in the assessment proceedings and not taking any adjournments.
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