Allowed

Punjab National Bank International Limited v. Deputy Commissioner of Income Tax & Anr.

Delhi HC13 Nov 2024W.P.(C)/6670/2023

Case brief

AI extract

What is this about?

The Delhi High Court disposed of a writ petition filed by Punjab National Bank International Limited challenging reassessment proceedings under Sections 148 and 148A. The Court allowed the petition based on an order by the Assistant Commissioner of Income Tax stating the income was not taxable in India.

What did the court decide?

The writ petition was disposed of; pending application closed; reassessment proceedings quashed.

Punjab National Bank International Limited Vs Deputy Commissioner… — Income Tax | Delhi HC (2024)

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$~26

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- W.P.(C) 6670/2023 and CM APPL. 26122/2023

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PUNJAB NATIONAL BANK INTERNATIONAL LIMITED

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.....Petitioner

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Through: Mr Rajat Navet, Advocate.

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versus

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DEPUTY COMMISSIONER OF INCOME TAX & ANR.

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.....Respondents Through: Mr Vipul Agarwal, SSC.

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CORAM: HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MS. JUSTICE SWARANA KANTA SHARMA

O R D E R

13.11.2024

The petitioner has filed the present petition, inter alia , praying as

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under:

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“a) Issue an appropriate writ in the nature of mandamus or in any other nature quashing the entire reassessment proceedings in the case of the Petitioner under Section 148 & 148A for the Assessment Year 2019-20; and/or

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b) Issue an appropriate writ in the nature of certiorari or any other appropriate writ, order and/or direction quashing the Order dated 30.03.2023 passed by the Respondent under Section 148A(d) of the Income Tax Act, 1961 (Annexure P·-6) as well as for quashing of the notice dated 30.03.2023 issued under Section 148 of the Act pursuant thereto for the Assessment Year 2019-20 (Annexure P-7); and/or

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c) Stay the effect and operation of the impugned Order & Notice, both dated 30.03.2023 and stay further proceedings under Section 147/148 of the Act for the A.Y. 2019-20.”

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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 21/11/2024 at 12:29:43

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Learned counsel appearing for the petitioner submits that the petitioner’s grievance stands addressed in terms of an order dated 03.07.2024 passed by the Assistant Commissioner of Income Tax under Section 154/147 read with Section 144 of the Income Tax Act, 1961, whereby it is stated in unambiguous term that the income earned by the assessee is not taxable in India and the assessee company is not liable to file a return of income in India for the assessment year in question.

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Accordingly, the writ petition is disposed of. Pending application also stands closed.

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VIBHU BAKHRU, J

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SWARANA KANTA SHARMA, J

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NOVEMBER 13, 2024 / tr

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Click here to check corrigendum, if any

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Punjab National Bank International Limited v. Deputy Commissioner of Income Tax & Anr.

Case brief

What is this about?

What did the court decide?

Punjab National Bank International Limited v. Deputy Commissioner of Income Tax & Anr.

Case brief

What is this about?

What did the court decide?

What the court decided

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