ITO, War4d-22(3), New Delhi V. Sarayu Overseas P.Ltd, New Delhi

ITA 2537/DEL/2018

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 0753 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-07-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2013-2014
• Appeal Filed On: 11-04-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 271(1)(c); 115JB; 143(1); 143(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI B BENCH: NEW DELHI (THROUGH VIDEO CONFERENCING ) BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER & SHRI O.P.KANT, ACCOUNTANT MEMBER ITA NO.2537/DEL/2018 ASSESSMENT YEAR : 2013-14 ITO, WARD-22(3), NEW DELHI-110002. VS SARAYU OVERSEAS P.LTD., 307, WEGMANS HOUSE, 21, VEERSAVARKAR BLOCK, SHAKARPUR, NEW DELHI-110092. PAN-AABCB8374L APPELLANT RESPONDENT APPELLANT BY NONE RESPONDENT BY SH. MAHESH THAKUR, SR. DR DATE OF HEARING 12.07.2021 DATE OF PRONOUNCEMENT 15 .07.2021 ORDER PER KUL BHARAT, JM : THIS APPEAL FILED BY THE REVENUE FOR THE ASSESSMENT YEAR 2013-14 IS DIRECTED AGAINST THE ORDER OF LD. CIT(A)-30, NEW DE LHI DATED 29.12.2017. THE REVENUE HAS RAISED FOLLOWING GROUNDS OF APPEAL: - 1. 'WHETHER ON THE FACTS AND CIRCUMSTANCES OF THE C ASE, THE LD. CIT(A) WAS JUSTIFIED IN DELETING THE PENALTY OF RS. 35,04,461/ - IMPOSED BY THE AO U/S 271(1)(C) OF THE I.T. ACT, 1961 DESPI TE THE FACT THAT THE RETURN WAS REVISED AFTER DUE DATE (I.E. 31.03.2015) ON 22.12.2015 ONLY WHEN NOTICE U/S 143(2) WAS ISSUED TO THE ASSESSEE A FTER NOTICING THAT THE ASSESSEE HAD IN FACT BOOK PROFIT OF RS.L,90,15, 643/- U/S 115JB AS AGAINST DECLARED IN THE ORIGINAL RETURN OF INCOME F ILED AT RS.15,75,135/-. ' ITA NO. 2537/DEL/2018 2 | P A GE 2. 'THE LD. CIT(A) HAS ALSO ERRED IN HOLDING THAT T HE ASSESSEE HAD COMMITTED AN INADVERTENT/ CLERICAL ERROR BY SHOWING THE FIGURE OF BOOK PROFIT AT RS.15,75,135/- INSTEAD OF THE CORRECT FIG URE OF RS.L,90,15,643/- BY IGNORING THE FACT THAT THE ROI WAS PROCESSED U/S 143(1) ON 23.02.2015 AT RS.7,94,390/-. HAD THE ASSE SSEE GENUINE INTENTIONS THE RETURN WOULD HAVE BEEN REVISED BEFOR E ISSUED OF THE NOTICE U/S 143(2). 2. AT THE TIME OF HEARING, NO ONE APPEARED ON BEHAL F OF THE ASSESSEE. 3. LD. SR. DR FAIRLY CONCEDED THE FACTS THAT THE AP PEAL FILED BY THE REVENUE CANNOT BE MAINTAINED ON ACCOUNT OF CBDT CIR CULAR NO. 17/2019 DATED 08.08.2019 & 20.08.2019 RELATED TO PECUNIARY LIMIT. IT IS SEEN THAT THE REVENUE HAS CHALLENGED THE DELETION OF PENALTY OF RS.35,04,461/-. THEREFORE, IN TERMS OF ABOVE CBDT CIRCULAR NO. 17/2 019 DATED 08.08.2019 & 20.08.2019, THE APPEAL FILED BY THE REVENUE IS DI SMISSED, BEING NOT MAINTAINABLE. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ABOVE DECISION WAS PRONOUNCED ON CONCLUSION OF VIRT UAL HEARING IN THE PRESENCE OF BOTH THE PARTIES ON 15 TH JULY, 2021. SD/- SD/- (O.P.KANT) (KUL B HARAT) ACCOUNTANT MEMBER JUDICIA L MEMBER *AMIT KUMAR* ITA NO. 2537/DEL/2018 3 | P A GE COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI