2019 (9) TMI 739 - SCH - Income Tax

Assessment in the hands of representative / agent - Chief Financial officer (CFO) of the non-resident assessee - According to the appellant the Chief Financial Officer was questioned about transfer of shares of the appellant by Clayton Dewandre to WABCO Singapore even though the Chief Financial Officer was not employed with the appellant during the Financial Year 2013-14 and had no knowledge of the transaction. Whether the writ petition ought to have been dismissed on the sole ground that the appellant had a right of reply to the show cause notice. The answer to the aforesaid question has to be in the negative for the reasons discussed hereinbelow? - Division Bench held that no case was made out by the Department that in respect of transfer of share to a third party that too outside India the Indian company could be taxed when the Indian company had no role in the transfer HELD THAT - Delay condoned. Leave granted.

Summary

The Supreme Court of India in 2019 (9) TMI 739 - SC granted leave after condoning delay. Petitioner represented by Mr. Zoheb Hossain, Mr. Monish Pushkarna, and Mrs. Anil Katiyar. Respondent represented by Mr. Perry Pardiwalla, Mr. Vivek Jain, Mr. Sandeep Bagmarr, and Ms. Suchitra Kumbhat.