9911796707
TMI Blog2018 (10) TMI 1802X X X X Extracts X X X X X X X X Extracts X X X X ..... Act) in the case of M/s Indian Farmers Fertilizers Coop. Ltd. (Respondent-assessee) relates to assessment year 2011-12. By the impugned order dated 19.03.2018, the Income Tax Appellate Tribunal has quashed the order dated 09.08.2016 passed by the Principal Commissioner under Section 263 of the Act. 3. Learned counsel for the Revenue accepts that similar order passed by the Principal Commissioner in the case of respondent-assessee for the assessment year 2010-11 under Section 263 of the Act was quashed by the Tribunal. 4. It also accepts that appeal under Section 260A filed by the Revenue, ITA No. 597/2017 for the assessment year 2010-11, was dismissed by this High Court vide order dated 02.08.2017. 5. Learned counsel for the Revenue subm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T-2 has already authorized the PCIT to file appeal before the Hon'ble Delhi High Court. 14. It may be noted that the assessee was specifically asked vide this office letter dated 14.07.2016(reproduced above in para 6) to show whether these letters were before the AO on the basis on which the Hon'ble ITAT has given the relief. 15. The assessee filed reply vide letter dated 27.07.2016 wherein it was admitted by the assessee that these letters were not before the AO. The assessee has simply stated that even if the letters issued by Secretary General of Taxation are ignored for a moment, the claim of the society for tax credit falls within the four comers of Article-25(4) w.r.s. 90(1)(a)(ii). This means these letters were not before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e respondent-assessee was given tax credit of Rs. 17,37,09,837/- out of the total dividend paid in Oman of Rs. 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 in ITA No.597/2017 pertaining to the assessment year 2010-11. The ratio of the order would accordingly apply. For the reasons stated in the order dated 02.08.2017 passed in ITA No. 597/2017 for the assessment year 2010-11 we hold that no substantial question of law arises for consideration in the present appeal. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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