M/s IMSI India Pvt. Ltd, Dehradun V. ACIT, Dehradun

CO 215/DEL/2009

• Counselvise Citation: [2010] 122 COUNSELVISE.COM (IT) 5108 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 19 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 12-08-2010
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 12-08-2010
• Assessment Year: 2006-2007
• Appeal Filed On: 24-07-2009
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: D N KAR
• Assessee Lawyers: O P SAPRA
• Keywords: Additional evidence

Judgement Text

C.O. NO.215 /DEL/09 1/3 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH C NEW DELHI) BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER CROSS OBJECTION NO.215/DEL/2009 IN I.T.A. NO. 2166/DEL/2009 ASSESSMENT YEAR : 2006-07 IMSI INDIA PVT. LTD., ACIT, MICHIGAN AVENUA, CIRCLE-2, DOON EXPRESS BUSINESS PARK, DEHRADUN. DEHRADUN. V. (APPELLANT) (RESPONDENT) PAN /GIR/NO.AABCI-1797-A APPELLANT BY : SHRI O.P. SAPRA, ADVOCATE. RESPONDENT BY : SHRI D.N. KAR, CIT-DR. ORDER PER A.K. GARODIA, AM: THIS CROSS OBJECTION IS FILED BY THE ASSESSEE IN CO NNECTION WITH THE REVENUES APPEAL NO.2166/DEL/2009 FOR ASSESSMENT YEAR 2006-07 . 2. THE GROUNDS RAISED BY THE ASSESSEE ARE AS UNDER- 1. THAT THE LD CIT(A) WAS JUSTIFIED IN DELETING THE ADDITION OF RS.7,55,32,744/- BY HOLDING THAT THE AMOUNT RECEIVE D AS SHARE APPLICATION MONEY STAND EXPLAINED. 2. THAT THE LD ASSESSING OFFICER HIMSELF HAVING ACC EPTED THE FACT THAT IDENTITY OF SHRI SUDHIR JAIN STOOD PROVED WHO HAD A DMITTED TO HAVE ADVANCED SHARE APPLICATION MONEY AGAINST WHICH SHAR ES WERE ACTUALLY . C.O. NO.215/DEL/09 2/3 ALLOTTED TO HIM. THE ONUS WHICH LAY ON THE ASSESSEE STOOD DISCHARGED AND KEEPING IN VIEW VARIOUS CASE LAW, NO ADDITION C OULD LEGALLY BE MADE BY THE ASSESSING OFFICER IN THE HANDS OF THE ASSESS EE COMPANY. 3. THAT BOTH THE GROUNDS OF APPEAL AS RAISED BY THE REVENUE ARE MISCONCEIVED INASMUCH AS THE CIT(A) HAD DELETED THE ADDITION BECAUSE HE AS SATISFIED THAT THE SHARE APPLICATION MONEY AD VANCED BY SHRI SUDHIR JAIN AGAINST WHICH SHARES WERE DULY ALLOTTED TO HIM STOOD DULY EXPLAINED. FURTHER THE ADDITIONAL EVIDENCE AS FURNISHED BY THE ASSESSEE IN THE FORM OF ORIGINAL AUTHENTICATED COPIES OF INCOME TAX RETU RNS ALONG WITH AFFIDAVITS WERE IN CONTINUATION OF SUCH INFORMATION ALREADY FI LED BEFORE THE ASSESSING OFFICER AND THEN THE CIT(A) HAD DULY SHOW N SUCH EVIDENCE TO THE ASSESSING OFFICER IN THE COURSE OF APPELLATE PR OCEEDINGS WHICH HAD NOT AT ALL BEEN OBJECTED BY THE ASSESSING OFFICER. 3. IT WAS POINTED OUT BY THE BENCH THAT THE GROUNDS RAISED BY THE ASSESSEE ARE MERELY IN SUPPORT OF THE ORDER OF LD CIT(A) AND HENCE THIS CROSS OBJECTION OF THE ASSESSEE IS NOT MAINTAINABLE. LD AR OF THE ASSE SSEE HAD NOTHING TO SAY AND THEREFORE WE DISMISS THE CROSS OBJECTION OF THE ASS ESSEE BECAUSE THE SAME IS NOT MAINTAINABLE FOR THE REASON THAT IT IS MERELY I N SUPPORT OF THE ORDER OF LD CIT(A). 4. IN THE RESULT, THE CROSS OBJECTION OF THE ASSESS EE IS DISMISSED. 5. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE O F HEARING I.E. 12 TH AUGUST, 2010. SD/- SD/- (RAJPAL YADAV) (A.K. GAROD IA) JUDICIAL MEMBER ACCOUNTANT MEMBER DT. 12.8.2010. HMS . C.O. NO.215/DEL/09 3/3 COPY FORWARDED TO:- 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT (A)-, NEW DELHI. 5. THE DR, ITAT, LOKNAYAK BHAWAN, KHAN MARKET, NEW DELHI. TRUE COPY. BY ORDER (ITAT, NEW DELHI).