Case Law Details
Blackstone Capital Partners (Singapore) VI FDI Three PTE. Ltd. Vs ACIT (Delhi High Court)
According to HC, the central issue, to which the Assessing Officer (AO) should have applied his mind is, as to whether the investment in shares of Agile by the petitioner was a capital account transaction, given the fact that there is no allegation of round-tripping.
13. We may also note, that there is no reference to Section 115A of the Act, for whatever its worth, either in the show-cause notice dated 31.05.2022 or in the impugned order passed by the AO.
13.1 As to whether the said provisions are, at all, applicable to a non- resident company is a moot point which the AO will have to decide.
14. Therefore, having regard to the overall facts, we are of the view, that this writ petition can be disposed of with the following directions:
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