M/s Nuwave E Solutions (P) Ltd., New Delhi V. ACIT, New Delhi

CO 319/DEL/2011

• Counselvise Citation: [2017] 123 COUNSELVISE.COM (IT) 3147 (ITAT-DELHI)
• Duration Of Justice: 5 year(s) 11 month(s) 23 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 05-09-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 21-06-2017
• Assessment Year: 2007-2008
• Appeal Filed On: 12-09-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHEFALI SAWROOP
• Assessee Lawyers: RAKESH GUPTA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH E , NEW DELHI BEFORE SH. N. K. SAINI, A M AND SH. K. N. CHARY , JM CO NO. 319/DEL/2011 (IN ITA NO. 3676/DEL/2011 : ASSTT. YEAR : 2007 - 08 ) NUWAVE E SOLUTIONS PVT. LTD., 3 RD FLOOR, DISTRICT CENTRE, DDA BUILDING, NEHRU PLACE, NEW DELHI VS A CIT, CIRCLE - 13 (1), NEW DELHI (APPELLANT) (RESPONDENT) PAN NO. A A BCN5790Q ASSESSEE BY : SH. RAKESH GUPTA , ADV. REVENUE BY : MS. SHEFALI SAWROOP, CIT DR DA TE OF HEARING : 0 4 .0 9 .201 7 DATE OF PRONOUNCEMENT : 05 .09 .201 7 ORDER PER N. K. SAINI, AM: TH E CROSS OBJECTION FILED BY THE ASSESSEE IS ARISING OUT OF ITA NO. 3676 /DE L /201 1 WHICH IS DIRECTED AGAINST THE ORDER DATED 15.03.2011 OF LD. CIT(A) - XVI, NEW DELHI. 2 . FOLLOWING GROUND S HAVE BEEN RAI SED IN THE CROSS OBJECTION : 1. THAT HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE LD. CIT(A) HAS RIGHTLY ALLOWED THE CLAIM OF RS.43,49,83,092/ - U/S 10A TO THE ASSESSEE WHICH WAS DISAL LOWED BY LD. AO IN RESPECT TO ALLEGED 'ARBITRATION AWARD'. CO NO . 319 / DEL /201 1 NUWAVE E SOLUTIONS PVT. LTD. 2 2. THAT HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE LD. CIT(A) HAS RIGHTLY ALLOWED THE CLAIM OF RS.1,23,33,934/ - U/S 10 A TO THE ASSESSEE WHICH WAS DISALLOWED BY LD. AO IN RESPECT OF FOREIGN EXCHANGE FLUCTUATION. 3. THAT HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE LD. CIT(A) HAS RIGHTLY DELETED THE ADDITION OF RS.3,55,47,260/ - WHICH WAS MADE BY LD. AO U/S 40(A)(I) ON THE GROUND OF ALLEGED DEFAULT IN DEDUCTION OF TAX AT S OURCE. 4. THAT IN ANY CASE AND IN ANY VIEW OF THE MATTER THE ACTION OF LD. AO IN MAKING ADDITIONS/DISALLOWANCES IN THE IMPUGNED ORDER AND IN FRAMING THE IMPUGNED ASSESSMENT ORDER IS BAD IN LAW AND AGAINST THE FACTS AND CIRCUMSTANCES OF THE CASE. 5. THAT THE CROSS OBJECTOR CRAVES THE LEAVE TO ADD, AMEND, MODIFY, DELETE ANY OF THE GROUND(S) OF CROSS OBJECTION BEFORE OR AT THE TIME OF HEARING. 3. DURING THE COURSE OF HEARING THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT SINCE IN THE CROSS OBJECTION, THE ASSESSEE HAS ONLY SUPPORTED THE ORDER OF LD. CIT(A) AND HE HAS THE INSTRUCTION TO WITHDRAW THE CROSS OBJECTION . HE GAVE IN WRITING AS UNDER: CO WITHDRAWN SD/ - ( DR. RAKESH GUPTA ) ADV. CO NO . 319 / DEL /201 1 NUWAVE E SOLUTIONS PVT. LTD. 3 4. THE LD. DR DID NOT OBJECT IF THE CROSS OBJECTION IS DISMISSED AS WITHDRAWN . 5 . IN VIEW OF THE ABOVE, THE CROSS OBJECTION FILED BY THE ASSESSEE IS DISMISSED AS WITHDRAWN . 6 . IN THE RESULT, THE CROSS OBJECTION FILED BY THE ASSESSEE IS DISMISSED . (ORDER PRONOUNCED IN T HE COURT ON 05 /0 9 /2017 ) SD/ - SD/ - ( K. N. CHARY ) (N. K. SAINI) JUDICIAL MEMBER ACCOUNTANT MEMBER DAT ED: 05 /0 9 /2017 *SUBODH* COPY FORWARDED TO: 1 . APPELLANT 2 . RESPONDENT 3 . CI T 4 . CIT(APPEALS) 5 . DR: ITAT ASSISTANT REGISTRAR