9911796707
TMI Blog2018 (1) TMI 883X X X X Extracts X X X X X X X X Extracts X X X X ..... 6.12.2016. The applicant by filing this application had sought the rectification of the order passed by the Tribunal on the following grounds: On the question of beneficial ownership, it was submitted on behalf of the Applicant (at the time of the hearing of the appeal as well as in a written note dated 26 October 2016 submitted after the hearing as per the directions of the Hon'ble Tribunal) that the question whether the Applicant is a beneficial owner of the interest income stands concluded in favour of the Applicant by the following: Circular No. 789 dated 13 April 2000 issued by Central Board of Direct Taxes (CBDT), wherein it has been categorically stated that a tax residence certificate issued by the Mauritius Revenue Authori ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the aforesaid order of the Tribunal. The ld. A.R submitted that in order to fortify the fact that the assessee was the beneficial owner of the interest income, a note culling out the submissions raised during the course of hearing of the appeal was as per the directions of the Tribunal placed on record, as under:- (i) That reliance was placed on Circular No. 789, dated 13th April, 2000 issued by the Central Board of Direct Taxes (for short 'CBDT'), wherein it was categorically stated that a tax residence certificate issued by the Mauritius Revenue Authorities would constitute sufficient evidence for accepting the status of residence as well as the beneficial ownership of the relevant income. That still further reliance was placed on the j ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal under Sec. 254(1) amenable for rectification. 3. The ld. A.R further submitted that the Tribunal while disposing off the appeal had in its aforesaid order relied on a decision of foreign court in the case of Indo-food International Finance Ltd. Vs. J.P. Morgan Chase Bank N.A. London Branch (2006) EWCA case 158. It was submitted by the ld. A.R that the aforesaid foreign ruling was neither referred to nor discussed during the hearing of the appeal, as a result whereof the assessee was divested of the opportunity to rebut the reliance or correctness of the said foreign ruling, both in terms of the Indian Income tax law and the facts involved in its case. It was submitted by the ld. A.R that the reliance placed by the Tribunal on the afor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... adi Bachao Andolan Vs. DCIT (2003) 263 ITR 706 (SC). We further find that the ld. A.R had also relied on the judgment of the Hon'ble High Court of Bombay in the case of DIT Vs. Universal International Music B.V. (2013) 31 taxmann.com 223, wherein the principle laid down by the aforesaid CBDT Circular No. 789 (supra) had been applied. We have further perused the records and find that during the course of hearing of the appeal the assessee had in order to fortify its contentions also placed on record the tax residence certificate of the assessee. We have further perused the records and are persuaded to be in agreement with the contention of the ld. A.R that the Tribunal while passing its order had though relied on the decision of a foreign co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the Tribunal while passing the order, therefore, the same would clearly render the order passed by the Tribunal as suffering from a mistake apparent from record, amenable for rectification under Sec. 254(2) of the Act. We are also of the view that the reliance placed by the Tribunal on the decision of the foreign court in the case of Indo-Food International Finance Limited Vs. J.P. Morgan Chase Bank N.A. London Branch (2006) EWCA case 158, without confronting the same to the assessee, is also a mistake apparent from record amenable for rectification under Sec. 254(2). 7. We are of the considered view that as observed by us hereinabove, the non-consideration of the CBDT Circular No. 789, dated 13th April, 2000 in the backdrop of the ju ..... X X X X Extracts X X X X X X X X Extracts X X X X
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