Law:

Section:

ORDER Sanjiv Khanna, J. - BBC World News Limited (formerly known as BBC World Ltd.), a company resident of and incorporated in United Kingdom, a wholly owned subsidiary of BBC Commercial Holdings Limited which in turn is a wholly owned subsidiary of the British Broadcasting Corporation, has filed the present writ petition for setting aside reassessment proceedings initiated in respect of the assessment year 2003-04, by issue of notice dated 30th March, 2010 under Section 148 of the Income Tax Act, 1961 (Act, for short). The petitioner has also impugned order dated 13th December, 2011, dismissing objections raised by the petitioner to the initiation of reassessment proceedings. 2. The petitioner, as noticed above, is a company incorporated in United Kingdom and was/is engaged in running and operating BBC World channel w.e.f. 1st December, 2002. Prior thereto another company incorporated in United Kingdom, BBC Worldwide Limited, was engaged in the business of running and operating BBC World channel and had entered into airtime sales and marketing agreement with BBC Worldwide (India) Pvt. Ltd. Airtime sales and marketing agreement between the BBC Worldwide and BBC Worldwide (India) Pvt. Ltd. w.e.f. 1st December, 2012 were novated by assignment of rights of BBC Worldwide Ltd. in favour of the petitioner. Consequently, BBC Worldwide (India) Pvt. Ltd. started acting as an agent for the petitioner in India for sale of airtime for advertisements on BBC world channel. In addition to soliciting advertisement, BBC World (India) Pvt. Ltd. also provide marketing support to the petitioner. BBC Worldwide (India) Pvt. Ltd. was/is a company incorporated in India and being a resident, their income was/is taxable in India. 3. During the period relevant to the assessment year 2003-04 i.e. for the period between 1st December, 2002 to 31st March, 2003, the petitioner filed its return of income on 2nd December, 2003, declaring NIL income and claimed credit of tax deducted at source and prepaid taxes amounting to Rs.46,88,196/-. Refund of the said taxes was prayed for. Subsequently, the petitioner revised its return on 31st March, 2005 by enhancing the TDS amount and prepaid taxes to…

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