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TMI Blog2021 (7) TMI 1272X X X X Extracts X X X X X X X X Extracts X X X X ..... Sunil Agrawal, Advocate. JUDGMENT MANMOHAN, J: (Oral) 1. The petition has been heard by way of video conferencing. 2. Present writ petition has been filed challenging the order dated 31st March, 2021 passed by the respondent-PCIT, Delhi-7, for assessment year 2016-17, under Section 264 of the Income Tax Act, 1961 [for short 'the Act'], whereby the respondent refrained from giving any finding o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cess deposit of tax, while deciding the revision petition. In support of his submission, learned counsel for the petitioner relies upon the judgment of the ITAT in M/s Giesecke and Devrient India Pvt. Ltd. Vs. Additional Commissioner of Income Tax, Special Range-04, ITA No. 7075/Del/2017 as well as judgments of this Court in Vijay Gupta vs. Commissioner of Income Tax, Delhi-III, (2016) 386 ITR 643 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me Court in the case of Godrej & Boyce Manufacturing Co. Ltd. v. DCIT [(2017) 394 ITR 449 (SC)]. In view of the same, he further submits that the rate of tax on distributed profits that is applicable is the one stipulated under section 115-O of the Income Tax Act and not the one prescribed under Article 10 of the DTAA, because the rate of tax in the hands of the shareholders is more beneficial und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Addl. CIT, Special Range-04, New Delhi (ITA No. 7075/DEL/2017). However, I note that this judgment was delivered on 13.10.2020 and the Income Tax Department still has time to take a decision on filing of appeal, if any, against the said judgment. As such, it cannot be said that the Department has accepted or acquiesced in the judgment of ITAT on the above issues on merit, and the legal position of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fter giving an opportunity of hearing to the petitioner. This Court clarifies that it has not expressed any opinion on merits of the controversy. All rights and contentions of the parties are left open. In the event the petitioner is aggrieved by the decision of the respondent, it shall be open to the petitioner to file appropriate proceedings in accordance with law, if permissible. 8. Accordingl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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