TMI Blog2021 (7) TMI 473X X X X Extracts X X X X X X X X Extracts X X X X ..... rce under Section 197 of the Act. It is nowhere mentioned in the impugned orders that the information supplied by the petitioners were erroneous and incorrect. This Court in a number of judgments has held that the Assessing Officer cannot ignore the mandate of Rule 28AA and proceed on any other basis as the Government is bound to follow the rules and standards they themselves had set on pain of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en heard by way of video conferencing. 2. Present writ petitions have been filed challenging the order dated 18th June, 2021 passed by respondent no-2, DCIT, TDS Circle 74(1), New Delhi whereby the applications filed by the petitioners for Nil rate of Tax Deduction at Source [TDS] under Section 197 of the Income Tax Act, 1961 [the Act] was rejected. Petitioner also seeks direction to the respon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... applications of the petitioners were rejected solely for the reason that the petitioners have not submitted the rate at which it borrows funds from the market which is then lent at 9.45% to their group companies. He states that this is incorrect as the petitioners had submitted the requisite information to the respondent. 5. Issue notice. Mr.Sunil Aggarwal, Advocate accepts notice on behalf of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is as the Government is bound to follow the rules and standards they themselves had set on pain of their action being invalidated (See: Bently Nevada LLC vs. Income Tax Officer, Ward-I(1)(2), (2019) 107 taxmann.com 440 (Delhi) and Manpower Group Services India Pvt. Ltd. vs. Commissioner of Income Tax (TDS)-I and Anr., (2021) 430 ITR 399 . 8. Consequently, the impugned orders are set aside an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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