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2021 (11) TMI 99 - AT - Income TaxAssessee as assessable as an agent of M/s Sino Hydro Corporation u/s 163 - HELD THAT:- Assessing authority appears to have set into motion section 163 mechanism in order to assess the taxpayer herein as an agent of M/s Sino Hydro Corporation (JV Partner) in tune by treating the tribunal’s discussion in Revenue’s and latter’s cross appeals appeal [2014 (2) TMI 138 - ITAT HYDERABAD] for AY 2006-07 -The Revenue’s endeavor all along; in light of the Assessing Officer’s order in issue herein dated 30th March, 2013, is that the earlier coordinate bench directions has settled the issue of the assessee’s having acted as other entity’s JV/agent so as to be liable for section 163 assessment. We, thus, hold that the instant issue is no more res-integra between the parties since there were no such section 163 direction(s) against the assessee involved in the earlier order of the Tribunal and more so, when Revenue’s appeal raising the very issue, is stated to be pending before the hon’ble jurisdictional high court. Coupled with this, it has further brought on record that the Revenue has lost on the very issue in DRP’s directions in AY 2006-07 as well. We accordingly conclude that in this factual back-drop that the CIT(A) has rightly held that the impugned section 163 mechanism set into motion by the Assessing Officer against the assessee is not sustainable in law.
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