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2022 (12) TMI 1020 - HC - Income TaxReopening of assessment u/s 147 - deemed escapement of income chargeable to tax - principal allegation against the petitioner is that the petitioner, which is a foreign company incorporated under the laws of Mauritius, had sold shares of an Indian company going by the name Bharti Infotel Pvt. Ltd, against which TDS was not deducted - HELD THAT:- There is no dispute that the petitioner/ assessee has not filed its return for AY 2016-2017. Therefore, in our opinion, the objections raised by the petitioner/assessee with regard to the aspects referred to hereinabove, can be dealt with by the AO. We have put this aspect to Ms Sethna; Ms Sethna says that while the matter can be remitted to the concerned AO, she/he should deal with the objections which have been articulated in detail in the writ petition. Apart from anything else, it is Ms Sethna’s contention that the broad aspects referred to hereinabove with regard to the fact that the petitioner has in its possession a tax residency certificate, which allows it to take benefit of Article 13 of the DTAA, is a facet which is required to be dealt with by the AO. Given this position taken by the respondents/revenue, as indicated AO will take a decision with regard to whether or not this is a fit case for triggering reassessment proceedings.
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