Delhi High Court - Orders
Vedanta Resources Ltd vs Income Tax Department Circle Intl Tax ... on 11 July, 2024
Author: Yashwant Varma
Bench: Yashwant Varma
$~86
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 9420/2024
VEDANTA RESOURCES LTD .....Petitioner
Through: Mr. Ajay Vohra, Senior
Advocate with Mr. Neeraj Jain,
Mr. Deepesh Jain and Mr.
Abhishek Singhvi, Advocates.
versus
INCOME TAX DEPARTMENT CIRCLE INTL TAX 3(1)(1)
DELHI & ANR. .....Respondents
Through: Mr. Puneet Rai, SSC with Mr.
Ashvini Kumar, Mr. Rishabh
Nangia, SC and Mr. Nikhil
Jain, Advocate.
CORAM:
HON'BLE MR. JUSTICE YASHWANT VARMA
HON'BLE MR. JUSTICE RAVINDER DUDEJA
ORDER
% 11.07.2024 CM APPL.38638/2024 (Ex) Allowed, subject to all just exceptions.
This application stands disposed of.
W.P.(C) 9420/2024 & CM APPL.38637/2024 (stay)
1. Notice. Since the respondents are represented by Mr. Rai, learned counsel, let a reply be filed by within a period of three weeks from today. The writ petitioner shall have two weeks therefrom to file a rejoinder affidavit.
2. Let the petition be called again on 07.10.2024.
3. Prima facie we find ourselves unable to sustain the action for reassessment bearing in mind the following facts. An ex facie reading This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 18/07/2024 at 20:31:01 of the notice under Section 148A(b) of the Income Tax Act, 1961 would indicate that the information on the basis of which the opinion came to be formed was in respect of certain remittances which were made to the petitioner in the concerned Assessment Year. The Assessing Officer, however, records that the source of investment has remained unexplained. The matter requires consideration.
4. Accordingly and for the aforesaid reasons we provide that till the next date of listing, the respondents shall stand restrained from taking further steps pursuant to the impugned notice dated 29 February 2024.
YASHWANT VARMA, J.
RAVINDER DUDEJA, J.
JULY 11, 2024/vp This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 18/07/2024 at 20:31:01