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2018 (10) TMI 1802

..... nt-assessee in Oman is inconsequential and misconceived. The assessing officer in his original order dated 27.03.2014 for the present year had allowed and given rebate of tax paid in Oman at the rate of 12% and not at the rate of 30%. Accordingly, the respondent-assessee was given tax credit of ₹ 17,37,09,837/- out of the total dividend paid in Oman of ₹ 144,75,81,978/-. Thus, the assessing officer had taken notice of the reduction of rate of tax and tax credit was only given for the tax paid in Oman. Change in tax rates/slab, therefore, would not make any difference; nor would it negate the ratio of the decision dated 02.08.2017 passed by the Division Bench of this Court [2017 (8) TMI 422 - DELHI HIGH COURT] pertaining to the a .....

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..... as there was reduction in tax slabs/rate paid by the respondent-assessee in Oman from 30% to 12%. This factum was duly noticed by the Assessing Officer in the assessment order dated 27.03.2014 under Section 143(3) of the Act for the present assessment year 2011-12. 6. Operative portion of the order under Section 263 of the Act passed by the Principal Commissioner of Income Tax for the assessment year 2011-12 reads as under: "DECISION 9. I have carefully considered the submissions of the assessee. Similar issues had arisen in the case of the assessee for the A.Y. 2010-11. 10. A detailed order was passed on 29.03.2016 u/ s 263. 11. The AO is directed to follow the order passed u/s 263 for the A.Y. 2010-11 even for the A.Y. 2011-12. 12. I .....

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..... 6. In the result, the matter is restored back to the file of the AO for making the assessment de novo in view of the observations given above and also the order u/ s 263 in the case of the assessee for the A.Y. 2010-11. The assessee may be given sufficient opportunity before finalizing the order". 7. The aforesaid quotation clearly refers to the earlier order passed by the Principal Commissioner under Section 263 of the Act relating to the assessment year 2010-11. It is also recorded that the Tribunal had quashed the said order for the assessment year 2010-11; however, an appeal had been preferred by the Revenue before the Delhi High Court. Hence, the Principal Commissioner for consistency and as the issue had not attained finality had .....

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