Assotech Moonshine Urban Developers Private Ltd. , Delhi V. DC/ACIT TP 1(1)(1), Delhi

ITA 1037/DEL/2022

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 0339 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 2 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-08-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: I
• Next Hearing Date: 06-08-2024
• Assessment Year: misc
• Appeal Filed On: 16-05-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 144; 2; 92; 22; 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “I” DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER AND SHRI NARINDER KUMAR, JUDICIAL MEMBER I.T.A. No.1037/DEL/2022 Assessment Year 2018-19 Assotech Moonshine Urban Developers Pvt. Ltd. 148-F, Pocket-IV, Mayur Vihar Phase-I, New Delhi Vs. DC/ACIT TP 1(1)(1) Delhi TAN/PAN: AAECM8184A (Appellant) (Respondent) Appellant by: Shri Mansi Jain, Chartered Accountant Respondent by: Shri Rajesh Kumar, CIT-DR Date of hearing: 07 08 2024 Date of pronouncement: 07 08 2024 O R D E R PER PRADIP KUMAR KEDIA-A.M. : T he c a pt i o ne d a p p e al h a s be en fi l e d a t th e i n s t a n c e o f t he a ss es se e a g a i ns t t h e fi n a l a ss e s s me n t or d e r d a t e d 20. 0 3. 2 0 2 2 pa ss e d un d e r S e c t i on 1 4 3 ( 3) r . w . Se c t i o n 1 4 4 C p a ss e d i n p ur su a n c e o f di r e c t i o n s i s su e d b y D i sp ut e Re so l ut i on P an el - I, N ew D e l h i (D R P ) da t ed 0 9. 0 2. 2 0 2 2 r e l e v a n t t o A sse ss me nt Y e a r 2 0 1 8- 19 2. A s pe r t he g r ou nd s o f a p p e a l , t he as s ess e e h a s c ha ll e ng e d t he fi n a l as s e ss m e nt or d e r da t e d 2 0. 0 3. 2 0 2 2 p as se d u nd er S e c t io n 1 4 3( 3 ) r. w . S e ct i o n 144 C ( 5 ) o f t h e A c t . 3. W h e n t h e ma t te r w a s c al l e d for h e ar i n g, t h e l d . c o u n se l f or t h e a ss es se e st ra i g ht a w ay a dve r t e d t o p a r a gr ap h 3. 3 . 2 of t he di re c t io ns o f t he D i s p ut e R e so l ut io n P a n e l da t e d 0 9. 0 2. 2 0 2 2 p as se d un de r I.T.A. No.1037/Del/2022 2 S ec t i on 1 4 4C (5 ) o f th e A c t a n d su b mi t t e d t h a t a s per t he D RP di r e c t i o n s, th e T P O w as d i r ec t e d t o v e ri fy t he fa c tu a l c on t e n t i on s o n t he i ss u e s r e l a t i n g t o i nt e r e st o n a c c u m u l a t e d i n t er e s t a c c r ue d. 4. T he TP O , in t u r n, pa s se d o rd er d a t e d 16. 0 3. 2 0 2 2 g i v i n g e ff e c t t o t he D R P d ir ec t i on s pa ss e d i n e x e r c i s e o f po w er s c o n fe r r e d un de r S ec t i on 1 44 C b u t h ow e ve r c o n fi r m e d e ar li e r a c ti o n on t h e p re m i se t ha t a s se sse e h a s fa i l e d t o pr o v e h i s fa c t u a l c o n t en t i o n s o n th e i ss u e. 5. I n t h e m a t t e r, t h e l d. c o un se l p oi nt e d o ut th at a s ol i t a r y op p or tu ni t y d a t e d 1 8 . 02 . 2 0 2 2 w a s gi ve n t o t h e a ss e sse e w hi c h co ul d no t be a tt e n de d . T h i s h a s r e s ul t e d i n e x -p a r t e de c i s io n i n th e m a tt e r. Th e l d. c o un se l t h us so ug h t re st or a t i on o f th e i ss ue t o t he T ra n s fe r P ri c i n g O f fi c e r t o gi v e e ff e c t t o t h e d ir e c t i on s u nd er S e ct i on 1 44 C a ft er he a r i n g t h e a s se s se e t o e n a b l e h i m t o p a ss a s pe a ki n g ord er . 6. T he ld . D R f or t h e Re ve n ue di d n o t c o nt e st t h e sub mi ss i o n s o f t he a ss e s se e s er i o us l y. 7. T he re le va n t pa ra gr ap h o f t he o r de r pa sse d by t he T P O g i v in g e f fe c t t o t h e d ir ec t i on s u nd e r Se c t io n 1 4 4 C i s r e p rod uc e d he r e u n d e r : “3 . A dd i t i on o n A / c o f i nt e r e s t o n t h e ac c u m u l at e d i n t e r e s t a c c r ue d : - Ld . D R P d i r e c t e d o n pa ge 4 a s u n d e r : “ T he pa ne l ha s c o n s i de r e d th e s ub m i s s i o n . T h e p a ne l di r e c t s t he TP O t o v e r i f y t hi s f a c t ua l c on t e nt i o n a nd i f i n t e r es t a c c r u i n g o n a y e a r l y b a s i s h av e a l r e ad y be e n s u b j e c t e d t o t r a n s f er pr i c in g a u di t i n t h e r e s p e c t in g y e a r s , t h e r e i s no ne e d t o a ga i n m ak e an a dd i t i on o n t h at c o un t . Th e T P O s h a ll a s p e ak i n g o rd e r i n t h i s r e g ar d a f t e r d ue v e r i f i c at i o n o f f a c t s . " I n t hi s r e g ar d , i t i s m e nt i o ne d t h at a l e t t e r da t e d 18 . 0 2. 2 0 2 2 ( V i de D I N N o. IT B A / C O M / F / 17 / 20 2 1 - 22 / 10 3 9 9 02 65 8 (1 ) w a s s e nt t o t he a s s e s s e e f or p r o v id i ng th e s ub m i s s i on w i t h r e g ar d to t h e d i r e c t i on s o f t he L d . D R P . B ut t h e a s s e s s e e di d n o t f i l e a ny re s po ns e i n t h i s r e g ar d . I t i s m e nt i o ne d t he a s s e s s e e w a s pr ov i d e d nu m e r ou s I.T.A. No.1037/Del/2022 3 o pp o r t un i t ie s d ur in g T P p r oc e e d i ng s a l s o b ut t he ass e s s e e ne v e r s u b m i t te d a ny T r an s f e r p r i c i n g d oc u m e n t s o r a n y o t he r d o c um e n t s a s r e q u ir e d u/ s 9 2 D o f t h e I T A c t , 1 96 1 . F u r t he r , the a s s e s s e e d i d n ot s u b m i t an y r e p l y to t h e qu e s t i on n ai r e i s s ue d t o i t . Th e r e f o r e , d e s p i t e m ul t i p l e op p or t u n it i e s , t he a s s es s e e c o ul d n ot p r o v e h i s c on t e nt i o n t h at i t w as a c c um ul a t e d b al a nce c o m p r i s e s o f a p ar t o f t he t ot a l i n t e r e s t a c c r u e d on t h e d e be n t ur es y e a r a f t e r y e a r a nd w a s s u b je c t t o t r an s f e r p r i c i n g au d i t i n t h e r es p e c t iv e y e a r s . Th e r e f o r e , f o l l ow i n g d i r e c t i o ns o f L d . D R P , af t e r ve r i f ic a t i on , i n a bs e n c e o f a n y s u p po r t i ng d o c um e n t s , c on t e nt i o n of t he a s s e s s e e c a nn ot b e a c c e p t e d as s uc h a nd a dj u s t m e n t of R s . 2,6 8, 2 7 , 6 9 9 /- o n a / c of i n te r e s t on a c c u m u l at e d i nt e r e s t ac c r u e d i s pr o p os e d . ” 8. A s sub m i t t e d o n b e ha l f o f th e a s se s s e e , a so l it ary op po r t u ni t y w as gi ve n by t he T P O a nd re f er en ce to mu l t ip l e op p or t u n i t i e s i s un t r u e . T h e d ir ec t i on s o f t h e D R P fo r d e t er mi na t i o n o f t h e i ss ue a ft er t a k i ng i n t o a c c ou nt t he fa c t ua l c o nt en t i o n s of t h e a sse ss e e o n t he s u b j e c t m a t t e r, th u s, h a s w e nt i n v a in . H e nc e , in or d e r t o p re ve nt t he mi sc ar ri a ge o f n at ur a l j u st i c e, w e co n si de r i t e x pe di e nt t o r e s t o re t he m a t t e r t o t he f i le o f t he TP O fo r fr es h i m p l e ment a t io n o f t he D RP di r e c ti on s d at e d 09 . 0 2. 20 22 . T h e T P O s h a l l pa ss a s pe ak in g or d e r on t h e i ss u e in a c co rd a n c e w i t h la w a f te r g i vin g p ro pe r op p or tu ni t y t o t he as s e ss e e a s d i r e c te d i n D RP di rec t i o n s. T he c on se qu en t i a l ac t i on sh al l fo ll o w a s p ro v i d e d i n t he st a t ut or y fr a m e w o rk for a s se ss m e nt pu r p o s es. 9. I n t he re su lt , t h e a pp e a l o f t h e a sse ss e e i s a l lo w e d fo r st a t i st ic a l pu r p os e s . Order pronounced in the open Court on 07/08/2024 Sd/- Sd/- [NARINDER KUMAR] [PRADIP KUMAR KEDIA] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: /08/2024 Prabhat