2021 (10) TMI 623 - Income Tax

Revision u/s 264 - AO observed that the benefit of the MFN clause could not be availed by the Petitioner as Slovenia / Lithuania / Colombia were not OECD countries at the time when the India – Netherlands Treaty came into effect - HELD THAT:- Issue notice. Mr.Kunal Sharma, Advocate accepts notice on behalf of the Respondent. He states that he has no objection if the Respondent is directed to dispose of the application filed by the Petitioner under Section 264 of the Act in a time bound manner.

Keeping in view the limited prayer made, this Court disposes of the present writ petition directing the Respondent to decide the Petitioner’s application dated 18th August, 2021 filed under Section 264 of the Act, by way of a reasoned, order in accordance with law, within eight weeks.