PR. COMMISSIONER OF INCOME TAX-7, DELHI vs VEDANTA LTD.

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 17 December 2024 Judgment pronounced on: 17 January 2025 + ITA 88/2022 PR. COMMISSIONER OF INCOME TAX-7, DELHI .....Appellant Through: Mr. Puneet Rai, Sr. Standing Counsel with Mr. Ashvini Kumar and Mr. Rishab Nangia, JSCs. versus VEDANTA LTD. .....Respondent Through: Mr. Ajay Vohra, Sr. Adv. with Mr. Prakash Kumar and Ms. Rashmi Singh, Advs. CORAM: HON'BLE MR. JUSTICE YASHWANT VARMA HON'BLE MR. JUSTICE DHARMESH SHARMA JUDGMENT YASHWANT VARMA, J. 1. The Principal Commissioner impugns the order of the Income Tax Appellate Tribunal1 dated 24 December 2020. We had by our order of 29 July 2024 admitted the instant appeal on the following question of law: - ―A. Whether the inadvertent mistake committed by the TPO as well as Assessing Officer ["AO"] in not mentioning the name of the entity correctly is a curable mistake under the Income Tax Act, 1961 ["Act"] specifically rectifiable in light of decision rendered by the 1 Tribunal ITA 88/2022 Page 1 of 17 Signature Not Verified Digitally Signed By:KAMLESH KUMAR Signing Date:17.01.2025 14:42:31 Supreme Court in case of Sky Light Hospitality LLP vs. ACIT [(2018) 13 SCC 147]?‖ 2. The question of law as set out above however came to be rectified in terms of our order dated 13 September 2024 by way of which the expression ―as well as Assessing Officer‖ came to be deleted. 3. The undisputed facts which emerge from the record are as follows. The respondent-assessee, M/s Vedanta Limited2 is the resultant entity which came into existence consequent to M/s Cairn India Limited3 amalgamating with it from an Effective Date of 01 April 2017. The Appointed Date under the Scheme of Amalgamation was stated to be 01 April 2016. 4. A reference with respect to international transac