WORLDPART LTD. Vs. ASSISTANT COMMISSIONER OF INCOME-TAX

JUDGEMENT

(1.) will dispose of both these writ petitions. Writ petitioner is a company incorporated in Cyprus and is therefore, a foreign company, but inter-alia has made investments in India and is an Assessee qua 'Income Tax Act, 1961' ('IT Act' for brevity). This case was originally reserved on 8.8.2019 and thereafter, it was listed again for clarification on 14.8.2019 on a request made by learned counsel for writ petitioner. After hearing both learned counsel, the matter was reserved on that day.

(2.) Assessment under IT Act for writ petitioner company for the assessment year 2015-16 (hereinafter 'said AY' for clarity) is the subject matter of instant writ petitions.

(3.) For said AY, writ petitioner company filed returns on 10.02.2016 showing gross total income of Rs.22,89,76,090.00, admitted that it is liable to pay income tax at 10% of gross total income, but vide the return, claimed a refund of Rs.4,57,95,220.00 on the ground that writ petitioner company is a deductee qua 'Tax Deducted at Source' ('TDS' for brevity) to the tune of Rs.6,86,92,827.00.