Nexg Ventures India P.Ltd, New Delhi V. DCIT, Circle-18(1), New Delhi

ITA 1266/DEL/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 2814 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 9 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-11-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2013-2014
• Appeal Filed On: 22-02-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PARMITA M BISWAS
• Assessee Lawyers: AMOL SINGHA
• Section: 14A; 37(1)

Judgement Text

PAGE | 1 INCOME TAX APPELLATE TRIBUNAL DELHI BENCH E: NEW DELHI BEFORE SHRI H.S.SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER (THROUGH VIDEO CONFERENCING) ITA NO. 1266, 1267/DEL/2018 ASSESSMENT YEAR: 2013-14 ITA NO 3878/DEL/2019 AY 2015-16 NEXG VENTURES INDIA PVT. LTD, D-7, DHAWANDEEP APARTMENTS, 6, JANTAR MANTAR ROAD, NEW DELHI PAN: AACCI2940N VS. DCIT, CIRCLE-18(1), NEW DELHI (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI AMOL SINGHA, ADV REVENUE BY: MS. PARMITA M. BISWAS, CIT DR DATE OF HEARING 19/11/2020 DATE OF PRONOUNCEMENT 25/11/2020 O R D E R PER PRASHANT MAHARISHI, A. M. 1. THESE ARE THE THREE APPEALS PREFERRED BY THE ASSESSEE FOR THE ASSESSMENT YEARS 2013-14, 2014-15 AND 2015-16. FOR ASSESSMENT YEAR 2013-14 AND 2014-15 APPEALS PREFERRED BY THE ASSESSEE AGAINST THE ORDER OF THE LD CIT(A)-28, NEW DELHI, FOR ASSESSMENT YEAR 2013-14, THE DISALLOWANCE OF RS. 47483184/- U/S 14A OF THE INCOME TAX ACT, 1961 WAS CONFIRMED ALONG WITH DISALLOWANCES U/S 37(1) ON IDENTICAL GROUNDS. FOR ASSESSMENT YEAR 2014-15 THE DISALLOWANCE U/S 14A OF RS. 18,39,00,000/- WAS CONFIRMED AND IDENTICAL SUM WAS ALSO DISALLOWED U/S 37(1) OF THE ACT. FOR ASSESSMENT YEAR 2015-16 ASSESSEE PREFERRED AN APPEAL AGAINST THE ORDER OF THE LD CIT(A)-37, NEW DELHI DATED 20.03.2019 WHEREIN, DISALLOWANCE U/S 14A OF RS. 19,15,84,941/- WAS CONFIRMED. 2. AT THE TIME OF HEARING OF THE APPEAL THE LD AR SUBMITTED THAT THE ASSESSEE IS OPTING THE SETTLEMENT OF THE DISPUTE UNDER VIVAD SE VISWAS PAGE | 2 SCHEME. HE SUBMITTED THAT ASSESSEE IS IN PROCESS OF FILNG REQUSITE APPLICATION .THEREFORE, ALL THESE APPEALS MAY BE TREATED AS WITHDRAWN. 3. THE LD DR DID NOT RAISE ANY OBJECTION. 4. IN VIEW OF THE ABOVE STATEMENT AT BAR BY THE LD AR THE BENCH ASKED TO SUBMIT COPY OF FORM NO. 1 AND 2 FILED UNDER THAT SCHEME. THE LD AR SUBMITTED THAT COMPANY IS IN PROCESS OF FILING THOSE FORMS. HOWEVER, HE CONSENTED THAT THESE APPEALS MAY BE TREATED AS WITHDRAWN. IN VIEW OF THIS, WE DISMISS ALL THESE THREE APPEALS FILED BY THE ASSESSEE AS WITHDRAWN. HOWEVER, THE ASSESSEE IS GRANTED LIBERTY TO APPLY FOR RECALL THIS ORDER IN CASE FORM NO. 3 UNDER THAT PARTICULAR SCHEME ARE NOT ISSUED TO THE ASSESSEE. 5. IN THE RESULT, ALL THESE THREE APPEALS ARE DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 25/11/2020. -SD/- -SD/- SD/- SD/- (H.S.SIDHU) (PRASHANT MAHARISHI) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 25/11/2020 A K KEOT COPY FORWARDED TO 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR:ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI PAGE | 3 DATE OF DICTATION 25.11.2020 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 25.11.2020 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER 25.11.2020 DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. PS/ PS 25.11.2020 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT 25.11.2020 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/ PS 25.11.2020 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT 25.11.2020 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 25.11.2020 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER