Saroj Singhania, New Delhi V. PrCIT-10, New Delhi

ITA 2912/DEL/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 8994 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-08-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2014-2015
• Appeal Filed On: 25-04-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: NIPPUN MITTAL
• Section: 143(3); 263

Judgement Text

ITA NO.-2912/DEL/2018 SAROJ SINGHANIA PAGE 1 OF 4 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH: B: NEW DELHI) (THROUGH VIDEO CONFERENCING) BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA NO:- 2912/DEL/2018 ( ASSESSMENT YEAR: 2014-15) SAROJ SINGHANIA, NEW DELHI. VS. PR. CIT - 10, NEW DELHI. APPELLANT RESPONDENT PAN NO: ABRPS7935A ASSESSEE BY : SHRI NIPPUN MITTAL, CA REVENUE BY : MS. NIDHI SRIVASTAVA, CIT(DR) PER ANADEE NATH MISSHRA, AM (A) THIS APPEAL BY ASSESSEE IS FILED AGAINST THE ORDER OF LEARNED PR. COMMISSIONER OF INCOME TAX, DELHI-10, [LD. PR. CIT, FOR SHORT], DATED 29.03.2018 FOR ASSESSMENT YEAR 2014-15. GROUNDS TAKEN IN THIS APPEAL OF ASSESSEE ARE AS UNDER: 1. ON THE FACTS AND CIRCUMSTANCES OF CASE AND IN LAW, THE PR. COMMISSIONER OF INCOME TAX (HEREINAFTER REFERRED TO AS THE PR. CIT) ERRED IN INITIATING PROCEEDINGS UNDER SECTION 263 OF INCOME TAX ACT, 1961 (ACT) BY WRONGLY ASSUMING JURISDICTION UNDER SECTION 263 OF THE ACT AND HENCE, THE ORDER PASSED BY THE PR. CIT UNDER SECTION 263 OF ACT IS WITHOUT JURISDICTION, BAD IN LAW AND VOID AB-INITIO. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE PR. CIT ERRED IN CANCELLING THE ASSESSMENT AND HAS ALSO ERRED IN HOLDING THAT THE ORIGINAL ASSESSMENT ORDER PASSED BY THE ASSESSING OFFICER UNDER SECTION 143(3) OF ACT WAS ERRONEOUS AND PREJUDICIAL TO THE INTEREST OF THE REVENUE. 3. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE DIRECTIONS ISSUED BY THE PR. CIT UNDER SECTION 263 OF ACT ARE ERRONEOUS, VAGUE, AMBIGUOUS AND UNTENABLE ITA NO.-2912/DEL/2018 SAROJ SINGHANIA PAGE 2 OF 4 AND, THEREFORE THE ORDER U/S 263 OF THE ACT PASSED BY THE PR. CIT IS LIABLE TO BE QUASHED. 4. ON THE FACTS AND CIRCUMSTANCES OF CASE AND IN LAW, THE PR. CIT ERRED IN INVOKING THE PROVISIONS OF SECTION 263 OF THE ACT, AND THEREBY DIRECTING THE ASSESSING OFFICER TO EXAMINE THE ISSUE AFRESH RELATING TO ALLEGED PENNY STOCK. THE APPELLANT CRAVES LEAVE TO ADD ONE OR MORE GROUND OF APPEAL OR TO ALTER/ MODIFY THE EXISTING GROUND BEFORE OR AT THE TIME OF HEARING OF APPEAL. THE ABOVE GROUNDS OF APPEAL ARE WITHOUT PREJUDICE TO EACH OTHER. (B) AT THE TIME OF HEARING BEFORE US, THE LD. AUTHORIZED REPRESENTATIVE (LD. AR, FOR SHORT) FOR ASSESSEE INFORMED THAT THE ASSESSEE WANTED TO WITHDRAW THE APPEAL BECAUSE THE ASSESSEE HAD GONE INTO THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (VSVS, FOR SHORT). OUR ATTENTION WAS ALSO DRAWN TO LETTER FILED BY THE ASSESSEES SIDE IN THIS REGARD. THE LD. AR FOR ASSESSEE, AS WELL AS THE LEARNED COMMISSIONER OF INCOME TAX (DEPARTMENTAL REPRESENTATIVE) (LD. (CIT) DR, FOR SHORT) SUBMITTED BEFORE US THAT THIS APPEAL MAY BE TREATED AS WITHDRAWN AND MAY BE DISMISSED ON ACCOUNT OF THE VIVAD SE VISHWAS ACT, 2020. AFTER DUE CONSIDERATION, IN VIEW OF THE FOREGOING; AND AS BOTH SIDES HAVE AGREED TO THIS; WE TREAT THIS APPEAL AS WITHDRAWN IN VIEW OF THE AFORESAID. ON ACCOUNT OF THE AFORESAID VSVS. ACCORDINGLY, THIS APPEAL IS DISMISSED, SUBJECT TO SETTLEMENT OF THE DISPUTES IN THE APPEALS, UNDER THE AFORESAID VSVS. (B.2) BEFORE WE PART, WE HEREBY CLARIFY, BY WAY OF ABUNDANT CAUTION, THAT IF FOR SOME REASON THE DISPUTES UNDER THIS APPEAL BEFORE US ARE NOT SETTLED UNDER THE AFORESAID VSVS, THEN THE ASSESSEE WILL BE AT LIBERTY TO APPROACH ITAT FOR RESTORATION OF THIS APPEAL, IN ACCORDANCE WITH LAW. ITA NO.-2912/DEL/2018 SAROJ SINGHANIA PAGE 3 OF 4 (B.3) WITH THESE DIRECTIONS, THE AFORESAID APPEAL OF THE ASSESSEE IS DISMISSED, BEING TREATED AS WITHDRAWN. (C) IN THE RESULT, THIS APPEAL IS DISMISSED. THESE ORDERS WERE ALREADY PRONOUNCED ON 9 TH AUGUST, 2021 IN OPEN COURT, IN THE PRESENCE OF REPRESENTATIVES OF BOTH SIDES; AFTER CONCLUSION OF THE HEARINGS. SD/- SD/- (KUL BHARAT) (ANADEE NATH MISSHRA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 10/08/21 (POOJA) COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI ITA NO.-2912/DEL/2018 SAROJ SINGHANIA 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