TMI Blog2019 (3) TMI 1255X X X X Extracts X X X X X X X X Extracts X X X X ..... large sufficient to meet with its TDS requirement if ultimately so arises. Pending the petition, allowing the department to proceed further with the hearing of show cause notices under Sections 201(1) and 201(1A) of the Act, would lead to multiplicity of the proceedings. In order to avoid this and also in order to protect the interest of the Revenue, the Civil Application is disposed of with follo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e applicant - original petitioner is as under:- a. That pending the hearing and final disposal of the Writ Petition, this Hon'ble Court be pleased to grant an injunction restraining the respondent from applying / implementing the provisions of Section 201(1) / (1A) of the Act, against the Applicant. 2. In the Writ Petition, the petitioner has challenged an order dated 9.5.2018 passed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r is US based company. Its shareholders are also individuals and institutions situated outside India. The question of deducting tax at source while making payment to such shareholders for extinguishing the shares is at issue. The petitioner relies heavily on the explanations 6 and 7 to clause (i) to sub-section (1) to Section 9 of the Act inserted by Finance Act, 2015 w.e.f. 1.4.2016 to contend th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 012) 6 SCC 613 would have no applicability. He submitted that the AAR has undertaken a detail analysis of the statutory provisions and relevant decisions and given the decision which calls for no interference. He further pointed out that the transaction in question took place at a time when the decision of the Bombay High Court in case of Vodafone International Holdings B.V. V/s. Union of Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) of the Act, would lead to multiplicity of the proceedings. In order to avoid this and also in order to protect the interest of the Revenue, the Civil Application is disposed of with following directions:- i. Pending the Writ Petition, further proceedings in connection with the notices issued to the petitioner under Sections 201 and 201(1A) of the Act shall stand stayed; ii. The petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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