9911796707
TMI Blog2025 (2) TMI 611X X X X Extracts X X X X X X X X Extracts X X X X ..... enging the Order / Intimation Dated 30.10.2024 (sent through e-mail) passed by the Respondent no. 1 under Direct Tax Vivad Se Visvas Scheme, 2014 (hereinafter, DTVSV Scheme) whereby the Respondent No. 1 rejected / cancelled the application of the petitioner filed vide DTVSV Form-1, of the said Scheme for resolving the dispute regarding interest charged under Sections 234A, 234B and 234C of the Income Tax Act, 1961, without assigning any reason. 2. Briefly stated, facts leading to the filing of the present petition is that the petitioner entered into a Share Purchase Agreement for sale of Shares held in Vikas Telecom Limited (hereinafter 'VTL') for a total consideration of INR 38,56,64,268/- to Embassy Property Developments Pvt. Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... processed on 29.12.2016 and the refund was granted to the Petitioner on 06.01.2017. 5. That in the meantime, the Petitioner made several representations to the AO, Asst. Commissioner, and Ministry of Finance, seeking either to refund of the Advance Tax inadvertently paid in A.Y. 2014-15 or treat the same as the Advance Tax for A.Y. 2015-16. It is due to the inaction of the AO in granting the refund for A.Y. 2014-15 / adjusting the same with the Advance Tax Liability for A.Y. 2015-16, that the Petitioner was unable to pay/categorize the remaining amount of INR 3,28,62,805/- towards its advance tax liability for A.Y. 2015-16 and as a direct consequence was unable to file its return for A.Y. 2015-16. That on receiving the refund of INR 3,67, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed her submissions on 24.10.2024, regarding the coverage of Interest dispute under the said Scheme. That thereafter, vide impugned Order/Intimation dated 30.10.2024, the Respondent no.1 rejected/ cancelled the said application of the petitioner without assigning any reason. 11. Learned counsel for the petitioner, in support of his case, had relied upon the decision of this Court in Kapri International (P.) Ltd. v. Commissioner of Income-tax-IV: (2022) 144 taxmann.com 37 (Delhi) as well as the decision of the Madras High Court in Tvl. Sanmac Mootor Finance Ltd. v. Central Board of Income-tax: (2024) 168 taxmann.com 577 (Madras). 12. We had heard the matter on 17.12.2024 and issued notice. On 20.12.2024 learned counsel for the Revenue was a ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
