M/s. Interarch Building Products Pvt. Ltd., Noida V. Addl. CIT, New Delhi

ITA 2121/DEL/2014

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 6438 (ITAT-DELHI)
• Duration Of Justice: 6 year(s) 9 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 04-05-2017
• Assessment Year: 2007-2008
• Appeal Filed On: 09-04-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Depreciation
• Section: 234B

Judgement Text

ITA NO.-2121/DEL/2014 INTERARCH BUILDING PRODUCTS PVT. LTD. PAGE 1 OF 4 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH: C: NEW DELHI) (THROUGH VIDEO CONFERENCING) BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA NO:- 2121/DEL/2014 ( ASSESSMENT YEAR: 2007-08) INTERARCH BUILDING PRODUCTS PVT. LTD., FARM NO. 8, DERA MANDI ROAD, MANDI VILLAGE, MEHRAULI, NEW DELHI-110047. VS. ADDL. CIT, RANGE 11, NEW DELHI. APPELLANT RESPONDENT PAN NO: AAACI0106J ASSESSEE BY : SHRI M.P. RASTOGI, ADV. REVENUE BY : MS. SUNITA SINGH, CIT(DR) PER ANADEE NATH MISSHRA, AM (A) THIS APPEAL BY ASSESSEE IS FILED AGAINST THE ORDER OF LEARNED COMMISSIONER OF INCOME TAX (APPEALS)- XV, NEW DELHI, [LD. CIT(A), FOR SHORT], DATED 31.01.2014 FOR ASSESSMENT YEAR 2007-08. GROUNDS TAKEN IN THIS APP EAL OF ASSESSEE ARE AS UNDER: 1. THE LEARNED CIT(A) HAS ERRED IN UPHOLDING THE R E-OPENING WHEN NEITHER ANY FRESH / FURTHER FACTS HAVE COME TO THE KNOWLEDGE OF THE LEARNED AO, SINCE THE PASSING OF THE REGULAR ASSESS MENT ORDER- NOR ANY CONCEALMENT OF FACTS HAVE BEEN BROUGHT OUT. ITA NO.-2121/DEL/2014 INTERARCH BUILDING PRODUCTS PVT. LTD. PAGE 2 OF 4 2. THE LEARNED CIT[A] HAS EERRED IN CONFIRMING THE ENHANCING BOOK PROFITS U/S 115 JB BY THE DEPRECIATION RESERVE WRIT TEN BACK. 3. THAT THE TAX DETERMINED IS WRONG. 4. THAT THE INTEREST CHARGED U/S 234B IS WRONG. 5. THAT THE ABOVE GROUNDS ARE INDEPENDENT AND WITHO UT PREJUDICE TO EACH OTHER. (B) AT THE TIME OF HEARING, THE LEARNED COUNSEL FOR TH E ASSESSEE INFORMED US THAT THE ASSESSEE HAS OPTED TO SETTLE THE AFOREMENTIONED APP EALS UNDER VIVAD SE VISHWAS SCHEME, 2020 (VSVS, FOR SHORT) AND THAT THE ASSESSEE HAS ALREADY FILED THE RELEVANT FORMS, BUT THE ACCEPTANCE FROM THE DEPARTMENT IN FORM NO. 3 HA S NOT BEEN YET ISSUED. HE DREW OUR ATTENTION TO EMAIL SENT FROM ASSESSEES SIDE IN INCO ME TAX APPELLATE TRIBUNAL (ITAT, FOR SHORT) GIVING INTIMATION OF THE SAME. IN VIEW OF T HIS, THE LEARNED COUNSEL AS WELL AS THE COMMISSIONER OF INCOME TAX (DEPARTMENTAL REPRESENTA TIVE) [LD. CIT(DR), FOR SHORT] SUBMITTED BEFORE US THAT THIS APPEAL MAY BE TREATED AS WITHDRAWN AND MAY BE DISMISSED ON ACCOUNT OF THE AFORESAID VSVS. AFTER DUE CONSIDE RATION, WE ARE OF THE OPINION THAT THIS APPEAL HAS BECOME INFRUCTUOUS ON ACCOUNT OF AFORESA ID VSVS, AND THIS APPEAL MAY BE TREATED AS WITHDRAWN ON ACCOUNT OF THE AFORESAID VS VS. ACCORDINGLY, THIS APPEAL HAVING BECOME INFRUCTUOUS, IS TREATED AS WITHDRAWN AND IS HEREBY DISMISSED. (B.1) BEFORE WE PART, WE HEREBY CLARIFY, BY WAY OF ABUNDA NT CAUTION, THAT IF FOR SOME REASON THE DISPUTES UNDER THIS APPEAL BEFORE U S ARE NOT SETTLED UNDER THE ITA NO.-2121/DEL/2014 INTERARCH BUILDING PRODUCTS PVT. LTD. PAGE 3 OF 4 AFORESAID VSVS, THEN THE ASSESSEE WILL BE AT LIBERTY TO APPRO ACH ITAT FOR RESTORATION OF THIS APPEAL, IN ACCORDANCE WITH LAW. (C) IN THE RESULT, THIS APPEAL IS DISMISSED. THIS ORDER WAS ALREADY PRONOUNCED ON 02 ND FEBRUARY, 2021 IN OPEN COURT, IN THE PRESENCE OF REPRESENTATIVES OF BOTH SIDES, AFTE R CONCLUSION OF THE HEARING. SD/- SD/- (KUL BHARAT) (ANADEE NATH M ISSHRA) JUDICIAL MEMBER ACCOUNTANT MEMBE R DATED: 02/02/2021 (POOJA) COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI ITA NO.-2121/DEL/2014 INTERARCH BUILDING PRODUCTS PVT. LTD. PAGE 4 OF 4 DATE OF DICTATION DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. PS/PS DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/PS DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 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