Shipra Estate Ltd and Jai Krishan Estate Developers Pvt. Ltd., Delhi V. ACIT, Circle- 58(1), New Delhi

ITA 2232/DEL/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 1702 (ITAT-DELHI)
• Duration Of Justice: 3 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-06-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Assessment Year: 2010-2011
• Appeal Filed On: 13-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Set aside
• Section: 142(1); 80IB

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL, DELHI BENCH G, NEW DELHI BEFORE : SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI B.R.R. KUMAR, ACCOUNTANT MEMBER ITA NO. 2232/DEL/2019 ASSESSMENT YEAR: 2010-11 SHIPRA ESTATE LTD. AND JAI KRISHAN ESTATE DEVELOPERS PVT. LTD., DELHI. PAN- ABGFS9748C (APPELLANT) VS. ACIT, CIRCLE 58(1), NEW DELHI. (RESPONDENT) APPELLANT BY SH. PRATEEK GUPTA AND SH. PANCHAM SETHI, CA RESPONDENT BY SH. N.K. BANSAL, SR. DR ORDER PER B.R.R. KUMAR, A.M.: IN THIS CASE, THE ASSESSMENT HAS BEEN COMPLETED O N 14.02.2013 DISALLOWING THE DEDUCTION OF RS.9,87,39,565/- CLAIM ED BY THE ASSESSEE U/S. 80IB. THE MATTER TRAVELLED UPTO THE ITAT WHEREIN TH E ITAT ADJUDICATED THE MATTER ON 26.04.2018 WITH THE DIRECTIONS TO RE-COMP UTE THE DEDUCTION AFTER EXAMINATION OF THE ISSUE AFRESH AND DETERMINE THE D EDUCTION. 2. BEFORE US, IT WAS BROUGHT TO OUR NOTICE THAT THE ASSESSING OFFICER HAS ISSUED NOTICE U/S. 142(1) OF THE IT ACT ON 10.06.20 19 TO THE ASSESSEE AND THE PROCEEDINGS IN RESPONSE TO THE ORDER OF THE ITAT AR E STILL PENDING BEFORE THE DATE OF HEARING 12.06.2019 DATE OF PRONOUNCEMENT 13 .06.2019 ITA NO. 2232/DEL/2019 2 ASSESSING OFFICER. SINCE THE CORE ISSUE OF DEDUCTIO N UNDER SECTION 80IB HAS BEEN REMANDED BACK TO EXAMINE THE ISSUE AFRESH, THE PENALTY LEVIED BY THE ASSESSING OFFICER VIDE ORDER DATED 29.03.2017 IS HE REBY SET ASIDE. THE DEPARTMENT WOULD BE AT LIBERTY TO LEVY PENALTY AFTE R CONCLUSION OF THE PROCEEDINGS BY THE ASSESSING OFFICER AS DIRECTED BY THIS TRIBUNAL VIDE ORDER DATED 26.04.2018 3. IN THE RESULT, THE APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (H.S. SIDHU) (B.R.R. KUMAR) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 13.06.2019 *AKS* COPY OF ORDER FORWARDED TO: (1) THE APPELLANT (2) THE RESPONDENT (3) COMMISSIONER (4) CIT(A) (5) DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES, NEW DELHI