K.D.SINGH, A.S.NARANG, SYED SHAH MOHAMMED QUADRI
Syed Shah Mohammed Quadri, J. - These applications under section 245Q(1) of the Income-tax Act, 1961 (‘the Act’), are placed before us for passing orders under sub-section (2) of section 245R of the Act. They have passed through several vicissitudes. It would be enough to record that the order passed under sub-section (2) of section 245R of the Act on 17th March, 2004, was recalled on the application of the Commissioner on 22-11-2004.
It would be appropriate to note the factual background which is common to both the applications. M/s. Rotem Company (the applicant in AAR/612/ 2003 - for short the first applicant), M/s. Mitsubhishi Corporation (the applicant in AAR/613/2003 - for short the second applicant) and M/s. Mitsubhishi Electric Corporation, Japan constituted a consortium under the leadership of the second applicant. The consortium submitted tender for design, manufacture, supply, testing and commissioning of passenger rolling stock for the Delhi Metro Rail Corporation (DMRC). On the acceptance of the tender, the consortium entered into contract with DMRC on 22nd May, 2001 (hereinafter referred to as "RS 1"). Under the RS1 a fixed lump sum comprising of INR 3.110.439.836
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