M/s. Richa Holdings Ltd., Faridabad V. DCIT, Faridabad

CO 225/DEL/2015

• Counselvise Citation: [2017] 123 COUNSELVISE.COM (IT) 3041 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 10 month(s) 3 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 01-06-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 01-06-2017
• Assessment Year: 2011-2012
• Appeal Filed On: 29-07-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : SMC : NEW DELHI BEFORE SHRI R.S. SYAL, VICE-PRESIDENT ITA NO.3105/DEL/2015 ASSESSMENT YEAR : 2011-12 DCIT, CIRCLE-1 BLOCK B, NEW CGO COMPLEX, NH-IV, FARIDABAD. VS. RICHA HOLDINGS LTD., PLOT NO.29, DLF INDUSTRIAL AREA, PHASE-II, FARIDABAD. PAN: AABCC7401M CO NO.225/DEL/2015 (ITA NO.3105/DEL/2015) ASSESSMENT YEAR : 2011-12 RICHA HOLDINGS LTD., PLOT NO.29, DLF INDUSTRIAL AREA, PHASE-II, FARIDABAD. PAN: AABCC7401M VS. DCIT, CIRCLE-1 BLOCK B, NEW CGO COMPLEX, NH-IV, FARIDABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI VIJAY SINGLA, CA DEPTT. BY : MS BEDOBANI, DR DATE OF HEARING : 01.06.2017 DATE OF PRONOUNCEMENT: 01.06.2017 ITA NO.3105/DEL/2015 CO NO.225/DEL/2015 2 ORDER THIS APPEAL BY THE REVENUE AND THE CROSS OBJECTION BY THE ASSESSEE ARISE OUT OF THE ORDER PASSED BY THE CIT(A) ON 02.0 3.2015 IN RELATION TO THE ASSESSMENT YEAR 2011-12. 2. THE FIRST GROUND OF THE REVENUES APPEAL IS AGAI NST THE DELETION OF ADDITION OF RS.3,07,573/- MADE BY THE ASSESSING OFF ICER ON ACCOUNT OF DISALLOWANCE OF INTEREST ON BORROWED FUNDS. THE SE COND GROUND IS AGAINST THE DELETION OF ADDITION OF RS.36,65,923/- U/S 14A OF THE ACT. 3. I HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED T HE RELEVANT MATERIAL ON RECORD. IT IS CLEAR FROM THE ORDERS OF THE AUTH ORITIES BELOW AS HAS BEEN ADMITTED BY THE LD. DR THAT THE DECISION ON BOTH TH E GROUNDS FOR THIS YEAR IS BASED ON THE VIEW TAKEN IN AN EARLIER YEAR. THE LD . AR PLACED ON RECORD A COPY OF THE ORDER PASSED BY THE TRIBUNAL ON 25.05.2 017 IN ITA NO.555/DEL/2014 IN ASSESSEES OWN CASE FOR THE ASSE SSMENT YEAR 2009-10 IN WHICH THE ACTION OF THE CIT(A) IN DELETING THE SIMI LAR ADDITIONS HAS BEEN UPHELD. THE LD. DR COULD NOT POINT OUT ANY DISTING UISHING FACT OF THE INSTANT YEAR VIS--VIS THE ASSESSMENT YEAR 2009-10 CONSIDERED AND DECIDED ITA NO.3105/DEL/2015 CO NO.225/DEL/2015 3 BY THE TRIBUNAL. RESPECTFULLY FOLLOWING THE VIEW TA KEN BY THE TRIBUNAL IN THE ASSESSEES OWN CASE FOR ASSESSMENT YEAR 2009-10 , I UPHOLD THE IMPUGNED ORDER. THE LD. DR DID NOT PRESS THE CROSS OBJECTION FILED BY THE ASSESSEE. 4. IN THE RESULT, BOTH THE APPEAL AND THE CROSS OBJECTION ARE DISMISSED. THE DECISION WAS PRONOUNCED IN THE OPEN COURT ON 0 1 ST JUNE, 2017. SD/- (R.S. SYAL) VICE-P RESIDENT DATED: 01 ST JUNE, 2017. DK COPY FORWARDED TO 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR DY. REGISTRAR, ITAT, NEW DELHI