HEAT FLOWN ELECTRICALS PVT. LTD., NEW DELHI V. ITO, WARD- 11(2), NEW DELHI

ITA 3692/DEL/2019

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 1170 (ITAT-DELHI)
• Duration Of Justice: 7 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-12-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 26-04-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Reopening of assessment; Bogus purchase; Principle of natural justice; Tangible material; Fair market value; Difference of opinion; Accommodation entries; Change of opinion; Reassessment proceedings; Borrowed satisfaction
• Section: 69C; 143(3); 251; 43; 147; 68; 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHE : SMC : NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER ITA NO. 3692/DEL/2019 ASSESSMENT YEAR : 2010-11 HEAT FLOWN ELECTRICALS PVT. LTD., 207, ALLIED HOUSE, 2, OLD ROHTAK ROAD, INDERLOK, NEW DELHI 35 (PAN: AABCH0771R) VS. ITO, WARD 11(2), NEW DELHI (APPELLANT) ( RESPONDENT) ASSESSEE BY : MS. RANO JAIN, ADV. & SH. PRANSHU SINGHAL, CA DEPARTMENT BY : SH. PRADEEP SINGH GAUTAM, SR. DR. ORDER THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE O RDER PASSED BY THE LD. CIT(A)-4, NEW DELHI ON 29.03.2019 IN RE LATION TO THE ASSESSMENT YEAR 2010-11 ON THE FOLLOWING GROUNDS:- 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE ORDER PASSE D BY THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) [CIT( A)] IS BAD, BOTH 'IN THE EYE OF LAW AND ON THE FACTS. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, LD. CIT(A) H AS ERRED BOTH ON FACTS AND IN LAW IN REJECTING THE CONTENTION O F THE 2 ASSESSEE THAT THE INITIATION OF THE PROCEEDINGS UNDER SECT ION 147, READ WITH SECTION 148, MADE BY A.O. IS BAD AND L IABLE TO BE QUASHED AS THE CONDITION AND PROCEDURE PRESCRIBED UNDER T HE STATUTE HAVE NOT BEEN SATISFIED AND COMPLIED WITH. 3. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, ID CIT(A) HA S ERRED BOTH ON FACTS AND IN LAW IN REJECTING THE CONTENTION O F THE ASSESSEE THAT THE INITIATION OF THE PROCEEDINGS UNDER SECT ION 147, READ WITH SECTION 148, MADE BY A.O IS BAD AND LI ABLE TO BE QUASHED AS THE REASONS ON THE BASIS OF WHICH THE REASSESSMENT IS INITIATED HAS NO LIVE LINK BETWEEN THE MATERIAL AN D THE BELIEF FORMED. 4. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LEARNED C IT(A) HAS ERRED BOTH ON FACTS AND IN LAW IN CONFIRMING THE O RDER PASSED BY THE A. O. DESPITE THE FACT THAT THE SAME IS BAD BOT H IN THE EYE OF LAW AND ON FACTS, AS THE ASSESSEE HAD ALREADY DISCLOSED FULLY AND TRULY ALL MATERIAL FACTS NECESSARY FOR THE ASSESSMENT U NDER SECTION 147/143(3) OF THE ACT. 5. (I) ON THE FACTS AND CIRCUMSTANCES OF THE CASE, ID. CIT (A) HAS ERRED BOTH ON FACTS AND IN LAW IN CONFIRMING THE ORDER OF THE A.O. DESPITE THE SAME HAVING BEEN MADE ON THE BASIS OF REASONS 3 RECORDED WITHOUT THERE BEING ANY INDEPENDENT APPLICAT ION OF MIND. (II) THAT THE REASSESSMENT ORDER PASSED BY THE A.O. IS B AD AND LIABLE TO BE QUASHED AS THE SAME HAS BEEN REOPENED ON T HE BASIS OF THE REASONS WHICH ARE VAGUE AND HAS BEEN RECORDED ONLY ON BORROWED SATISFACTION. 6. ON THE FACT AND CIRCUMSTANCES OF THE CASE, ID. CIT(A) H AS ERRED BOTH ON FACTS AND IN LAW IN REJECTING THE CONTENTION O F THE ASSESSEE THAT THE REOPENING U/S 147 OF THE INCOME TAX AC T, 1961 IS BAD IN LAW HAVING BEEN MADE WITHOUT OBTAINING VAL ID APPROVAL FROM THE PRESCRIBED AUTHORITY AS REQUIRED ULS 151 OF T HE INCOME TAX ACT, 1961. 7. (I). ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LEA RNED CIT(A) HAS ERRED BOTH ON FACTS AND IN LAW IN CONFIRMI NG THE ACTION OF THE AO IN MAKING AN ADDITION OF RS.21,00,0 00/- BEING SHARE APPLICATION MONEY RECEIVED BY INVOKING THE PROVI SIONS OF SECTION 68 OF THE ACT. (II) THAT THE ADDITION HAS BEEN CONFIRMED REJECTING TH E EXPLANATIONS AND EVIDENCES BROUGHT ON RECORD BY THE ASSESSEE TO PROVE T HE IDENTITY & CREDITWORTHINESS AS WELL AS THE GENUINENESS OF TRANSACTION. 4 8. (I) ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LEA RNED CIT(A) HAS ERRED BOTH ON FACTS AND IN LAW IN ENHANCING THE INCOME OF THE. APPELLANT BY RS 52,500/- BEING 2.5% OF RS. 21,00,000/-, ASSUMING THE SAME TO BE COMMISSION PAID BY INVOKING THE PROVISIONS OF SECTION 69C OF THE ACT. (II)THAT THE COMMISSION HAS BEEN CHARGED @ 2.5%, WITHOUT THERE BEING ANY BASIS FOR THE SAME. 9. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LEARNED C IT(A) HAS ERRED BOTH ON FACTS AND IN LAW IN ENHANCING THE INC OME OF THE APPELLANT WITHOUT GIVING ASSESSEE ANY NOTICE ULS 251 (2) OF THE ACT IN VIOLATION OF PRINCIPLE OF NATURAL JUSTICE. 10. THE APPELLANT CRAVES LEAVE TO ADD, AMEND OR ALTE R ANY OF THE GROUNDS OF APPEAL. 2. AT THE TIME OF HEARING, LD. COUNSEL FOR THE ASSESSEE HAS PLACED THE COPY OF REASONS RECORDED BY THE AO AND APPROVAL GRANT ED BY THE PR. COMMISSIONER OF INCOME TAX, DELHI-4, NEW DELHI FOR ISSU ANCE OF NOTICE U/S. 148 OF THE ACT. SHE STATED THAT THAT THE AO HAS ERRED IN ASSUMPTION OF JURISDICTION U/S. 147/148 OF THE ACT ON THE BASIS OF INVA LID AND MECHANICAL APPROVAL GRANTED BY THE PR. COMMISSIONER OF INCOME TA X, DELHI-4, NEW DELHI WHEREIN IT WAS MENTIONED YES, ON GOING THROUGH THE REASONS RECORDED BY THE AO, I AM SATISFIED THAT IT IS A FIT CASE FOR ISSUE OF NOTICE U/S. 148 OF THE I.T. ACT, 1961., WHICH SHOWS THAT LD. PR. CIT, DELHI-4, NEW DELHI HAS NOT RECORDED PROPER SATISFACTION AND WITHOUT APPLICATION OF MIND 5 GAVE THE APPROVAL IN A MECHANICAL MANNER. SHE FURTHE R STATED THAT THIS LEGAL/JURISDICTIONAL GROUND IS SQUARELY COVERED BY THE D ECISION OF THE ITAT, SMC, BENCH, NEW DELHI DATED 16.10.2019 IN THE CASE OF DHARMENDER KUMAR VS. ITO, WARD 65(5), NEW DELHI DECIDED IN ITA NO. 272 8/DEL/2018 RELEVANT TO ASSESSMENT YEAR 2008-09 AND THEREFORE, SHE REQUESTED T HAT THE SAME RATIO MAY BE FOLLOWED IN THE PRESENT CASE AND APPEAL O F THE ASSESSEE MAY BE ALLOWED ACCORDINGLY BY QUASHING THE REASSESSMENT PROCEEDIN GS. 3. ON THE CONTRARY, LD. SR. DR RELIED UPON THE ORDER S OF THE AUTHORITIES BELOW AND STATED THAT THE REASONS RECORDED AND SATISFACTIO N / APPROVAL ACCORDED IS WITHIN THE MEANING OF SECTION 151 OF THE ACT AND NEED NOT TO BE QUASHED. HE STATED THAT APART FROM RELYING ON THE ORD ER OF THE LD. CIT(A), THE FOLLOWING CASES LAWS MAY KINDLY BE CONSIDERED WITH RE GARD TO REOPENING OF CASES U/S. 147 OF THE I.T. ACT:- 1. SONIA GANDHI VS. ACIT (DELHI HIGH COURT) 29018) 9 7 TAXMANN.COM 150 (DELHI). I) WHERE CONGRESS PARTY GAVE LOAN TO AJL AND ASSIGNED SAID LOAN TO NON-PROFIT YI WHICH SUBSEQUENTLY ISSUED SHARES TO ASSESSES AT A PRICE LESS THAN FMV, NON-DISCLOSURE BY ASSESSES OF ALLOTMENT OF SHARES IN YI WOULD BE A REASON TO INITIATE REASSESSMENT PROCEEDINGS. II) RELYING ON PCIT VS. MEENAKSHI OVERSEAS PVT. LTD. ITA NO. 651/DEL/2016 DATED 11.1.2016 (HONBLE DELHI HIGH COURT) APPROVAL U/S. 151 UPHELD. 2. RAYMOND WOOLLEN MILLS LTD. V. ITO AND OTHERS [ 236 ITR 341 (COPY ENCLOSED) WHERE HONBLE SUPREME COURT HELD THAT IN DETERMINING WHETHER COMMENCEMENT OF REASSESSMENT PROCEEDINGS WAS VALID IT HAS ONLY TO BE SEEN WHETHER THERE WAS PRIMA FACIE SOME MATERIAL ON THE BASIS OF WHICH THE 6 DEPARTMENT COULD REOPEN THE CASE. THE SUFFICIENCY OR CORRECTNESS OF THE MATERIAL IS NOT A THING TO BE CONSIDERED AT THIS STAGE. 2.1 YUVRAJ V. UNION OF INDIA BOMBAY HIGH COURT [200 91 315 ITR 84 (BOMBAY)/[2009] 225 CTR 283 (BOMBAY) POINTS NOT DECIDED WHILE PASSING ASSESSMENT ORDER UNDER SECTION 143(3) NOT A CASE OF CHANGE OF OPINION. ASSESSMENT REOPENED VALIDLY. 3. DEVI ELECTRONICS PVT LTD VS ITO BOMBAY HIGH COURT 2017-TIQL-92-HC-MUM- IT THE LIKELIHOOD OF A DIFFERENT VIEW WHEN MATERIALS EXIST OF FORMING A REASONABLE BELIEF OF ESCAPED INCOME, WILL NOT DEBAR THE AO FROM EXERCISING HIS JURISDICTION TO ASSESS THE ASSESSEE ON REOPENING NOTICE.. 4. ACORUS UNITECH WIRELESS (P.) LTD. VS ACIT DELHI HIGH COURT T20141 43 TAXMANN.COM 62 (DELHI)/[2014] 223 TAXMAN 181 (DELHI)(MAG)/[2014] 362 ITR 417 (DELHI) IN TERMS OF SECTION 148, LAW ONLY REQUIRES THAT INFORMATION OR MATERIAL ON WHICH ASSESSING OFFICER RECORDS HIS OR HER SATISFACTION HAS TO BE COMMUNICATED TO ASSESSEE, WITHOUT MANDATING DISCLOSURE OF ANY SPECIFIC DOCUMENT. 5. PCIT, VS PARAMOUNT COMMUNICATION (P.) LTD. DE LHI HIGH COURT [2017] 79 TAXMANN.COM 409 (DELHI)/[2017] 392 ITR 444 (DELHI) INFORMATION REGARDING BOGUS PURCHASE BY ASSESSEE RECEIVED BY DRI FROM CCE WHICH WAS PASSED ON TO 7 REVENUE AUTHORITIES WAS 'TANGIBLE MATERIAL OUTSIDE RECORD TO INITIATE VALID REASSESSMENT PROCEEDINGS. 6. PARAMOUNT COMMUNICATION (P.) LTD. VS PCIT SUPREME COURT 2017-TIQL-253- SC-IT SLP OF ASSESSEE DISMISSED. INFORMATION REGARDING BOGUS PURCHASE BY ASSESSEE RECEIVED BY DRI FROM CCE WHICH WAS PASSED ON TO REVENUE AUTHORITIES WAS TANGIBLE MATERIAL OUTSIDE RECORD TO INITIATE VALID REASSESSMENT PROCEEDINGS. 7. AMIT POLYPRINTS (P.) LTD. VS PCIT GUJARAT HIGH C OURT [2018] 94 TAXMANN.COM 393 (GUJARAT) WHERE REASSESSMENT PROCEEDINGS WERE INITIATED ON BASIS OF INFORMATION RECEIVED FROM INVESTIGATION WING THAT ASSESSEE HAD RECEIVED CERTAIN AMOUNT FROM SHELL COMPANIES WORKING AS AN ACCOMMODATION ENTRY PROVIDER, REASSESSMENT COULD NOT BE HELD UNJUSTIFIED. 8. AASPAS MULTIMEDIA LTD. VS PCIT GUJARAT HIGH COU RT [2017] 83 TAXMANN.COM 82 (GUJARAT) WHERE REASSESSMENT WAS MADE ON BASIS OF INFORMATION RECEIVED FROM PRINCIPAL DIT (INVESTIGATION) THAT ASSESSEE WAS BENEFICIARY OF ACCOMMODATION ENTRIES BY WAY OF SHARE APPLICATION PROVIDED BY A THIRD PARTY, SAME WAS JUSTIFIED. 9. MURLIBHAI FATANDAS SAWLANI VS ITO GUJARAT HIGH C OURT 2016-TIQL-370-HC- AHM-IT 8 IT IS NOT OPEN TO THE ASSESSEE TO OBJECT TO THE REOPENING BY ASKING THE AO TO PRODUCE THE SOURCE FROM WHERE THE AO HAS GATHERED THE INFORMATION FOR FORMING A BELIEF THAT INCOME CHARGEABLE TO TAX HAS ESCAPED ASSESSMENT. 10. ANKIT AQROCHEM (P.) LTD. VS JCIT RAJASTHAN HIGH COURT [2018] 89 TAXMANN.COM 45 (RAJASTHAN) WHERE DIT INFORMED THAT ASSESSEE-COMPANY HAD RECEIVED SHARE APPLICATION MONEY FROM SEVERAL ENTITIES WHICH WERE ONLY ENGAGED IN BUSINESS OF PROVIDING BOGUS ACCOMMODATION ENTRIES TO BENEFICIARY CONCERNS, REASSESSMENT ON BASIS OF SAID INFORMATION WAS JUSTIFIED. 11. RAKESH GUPTA VS CIT P&H HIGH COURT F20181 93 TAXMANN.COM 271 (PUNJAB & HARYANA) WHERE ASSESSING OFFICER RECEIVED INFORMATION FROM PRINCIPLE DIRECTOR OF INCOME TAX (INVESTIGATION) THAT ASSESSEE HAD RECEIVED BOGUS LOSS FROM HIS BROKER BY CLIENT CODE MODIFICATION, REASSESSMENT ON BASIS OF SAID INFORMATION WAS JUSTIFIED. 12. HOME FINDERS HOUSING LTD. VS. ITO (2018) 94 TAXMANN.COM 84 (SC). SLP DISMISSED AGAINST HIGH COURTS ORDER THAT NON-COMPLIANCE OF DIRECTION OF SUPREME COURT IN GKN DRIVESHAFTS (INDIA) LTD. VS. ITO (2002) 125 TAXMAN 963 THAT ON RECEIPT OF OBJECTION GIVEN BY ASSESSEE TO NOTICE UNDER SECTION 148, ASSESSING OFFICER IS BOUND TO DISPOSE 9 OBJECTIONS BY PASSING A SPEAKING ORDER, WOULD NOT MAKE REASSESSMENT ORDER VOID AB INITIO. 13. BALDEVBAHI BHIKHABHAI PATEL VS. DCIT (GUJARAT HIGH COURT) (2018) 94 TAXMANN.CO, 428(GUJARAT) WHERE REVENUE PRODUCED BUNCH OF DOCUMENTS TO SUGGEST THAT ENTIRE PROPOSAL OF REOPENING OF ASSESSMENT ALONGWITH REASONS RECORDED BY THE ASSESSING OFFICER FOR SAME WERE PLACED BEFORE ADDITIONAL COMMISSIONER WHO, UPON PERUSAL OF SAME, RECORDED HIS SATISFACTION THAT IT WAS A FIT CASE FOR ISSUANCE OF NOTICE FOR REOPENING ASSESSMENT, REASSESSMENT NOTICE ISSUED AGAINST ASSESSEE WAS JUSTIFIED. 5. I HAVE HEARD BOTH THE PARTIES AND CAREFULLY CON SIDERED THE CASE LAWS AND THE RELEVANT DOCUMENTS AVAILABLE ON RECORD ESPECIALL Y THE ASSESSMENT ORDER, IMPUGNED ORDER, REASONS/SATISFACTION/APPROVAL R ECORDED FOR ISSUE OF NOTICE U/S. 148 OF THE ACT PLACED AT PAGE NO. 18 OF T HE PAPER BOOK, WHICH IS A COPY OF PERFORMA FOR RECORDING THE REASONS FOR INITIA TING PROCEEDINGS U/S. 148 FOR OBTAINING APPROVAL OF PR. CIT, DELHI-4, NEW DELHI WHO HAS GRANTED THE APPROVAL IN A MECHANICAL MANNER FOR ISSUING NOTICE U/S. 148 OF THE INCOME TAX ACT, 1961 VIDE COLUMN NO. 12 BY MENTIONIN G AS UNDER:- YES, ON GOING THROUGH THE REASONS RECORDED BY THE AO, I AM SATISFIED THAT IT IS A FIT CASE FOR ISSUE OF NOTICE U/S. 148 OF THE I.T. ACT, 1961. 10 5.1 AFTER PERUSING THE AFORESAID REMARKS OF THE PR. CI T-4, NEW DELHI, I FIND THAT THE APPROVAL GRANTED BY THE PR. CIT-4, N EW DELHI IS A MECHANICAL AND WITHOUT APPLICATION OF MIND, WHICH IS NOT VALID F OR INITIATING THE REASSESSMENT PROCEEDINGS, BECAUSE FROM THE AFORESAID REMARKS, IT IS NOT COMING OUT AS TO WHICH MATERIAL; INFORMATION; DOCUMENTS AND WHICH OTHER ASPECTS HAVE BEEN GONE THROUGH AND EXAMINED BY THE PR. CIT-4, NEW DELHI FOR REACHING TO THE SATISFACTION FOR GRANTING APPROVAL . THEREAFTER, THE AO HAS MECHANICALLY ISSUED NOTICE U/S. 148 OF THE ACT. THE JUD ICIAL DECISIONS RELIED UPON BY THE LD. SR. DR, HAVE BEEN DULY CONSIDERED. I N MY CONSIDERED VIEW, I DO NOT FIND ANY PARITY IN THE FACTS OF THE DECISION S RELIED UPON WITH THE PECULIAR FACTS OF THE CASE IN HAND. KEEPING IN VIEW OF T HE FACTS AND CIRCUMSTANCES OF THE PRESENT CASE AND THE CASE LAWS APPLI CABLE IN THE CASE OF THE ASSESSEE, I AM OF THE CONSIDERED VIEW THAT TH E REOPENING IN THE CASE OF THE ASSESSEE FOR THE ASSTT. YEAR IN DISPUTE IS BAD I N LAW AND DESERVES TO BE QUASHED. MY AFORESAID VIEW IS FORTIFIED BY THE FOLLOWING DECISIONS INCLUDING THE ITAT, SMC, BENCH, NEW DELHI DECISION DATE D 16.10.2019 IN THE CASE OF DHARMENDER KUMAR VS. ITO, WARD 65(5), NEW DELH I DECIDED IN ITA NO. 2728/DEL/2018 RELEVANT TO ASSESSMENT YEAR 2008-09 WHEREIN THE FOLLOWING CASE LAWS WERE FOLLOWED ON SIMILAR FACTS AND CIRCUMSTANCES OF THE CASE. A) UNITED ELECTRICAL COMPANY (P) LTD. VS. CIT & OR S. 258 ITR 317 (DEL.) IN THIS CASE, APPROVAL BY THE ADDL. CIT U/S. 151 WAS GIVEN IN THE FOLLOWING TERMS:- YES, I AM SATISFIED THAT IT IS A FIT CASE FOR ISSUE OF NOTICE U/S. 148 OF THE INCOME TAX ACT. 11 ANALYZING, THE ABOVE SATISFACTION/APPROVAL, IT HAS BEEN HELD THAT THE CIT IS REQUIRED TO APPLY HIS MIND TO THE PROPOSAL PUT UP TO HIM FOR APPROVAL IN THE LIGHT TO EH MATERIAL RELIED UPON BY THE AO. THE SA ID POWER CANNOT BE EXERCISED CASUALLY AND IN A ROUTINE MANNER. WE ARE CONSTRAINED TO OBSERVE THAT IN THE PRESENT CASE, THERE HAS BEEN NO APPLICATION OF MIND BY THE ADDL. CIT BEFORE GRANTING THE APPROVAL. (PA RA 19). (B) HONBLE SUPREME COURT OF INDIA IN THE CASE OF CI T VS. S. GOYANKA LIME & CHEMICAL LTD. REPORTED IN (2015) 6 4 TAXMANN.COM 313 (SC) ARISING OUT OF ORDER OF HONBLE HI GH COURT OF MADHYA PRADESH IN CIT VS. S. GOYANKA LIME & CHEMICALS LTD. (2015) 56 TAXMANN.COM 390 (MP). SECTION 151, READ WITH SECTION 148 OF INCOME TAX ACT, 1961 INCOME ESCAPING ASSESSMENT SANCTION FOR ISSUE OF NOTICE (RECORDING OF SATISFACTION) HIGH COURT BY IMPUGNED ORDER HELD THAT WHERE JOINT COMMISSIONER RECORDED SATISFACTION IN MECHANICAL MANNER AND WITHOUT APPLICATION OF MIND TO ACCORD SANCTION FOR ISSUING NOTICE UNDER SECTION 148, REOPENING OF ASSESSMENT WAS INVALID WHETHER SPECIAL LEAVE PETITION FILED AGAINST IMPUGNED ORDER WAS TO BE DISMISSED HELD, YES (IN FAVOUR OF THE ASSESSEE). 5.2 IN THE BACKGROUND OF THE AFORESAID DISCUSSIONS AND RESP ECTFULLY FOLLOWING THE PRECEDENTS, AS AFORESAID, I AM OF THE CONSI DERED VIEW THAT APPROVAL GRANTED BY THE PR. CIT-4, NEW DELHI IS A MECHANICAL AND WITHOUT APPLICATION OF MIND, WHICH IS NOT VALID FOR INITIATI NG THE REASSESSMENT 12 PROCEEDINGS ISSUE OF NOTICE U/S. 148 OF THE I.T. ACT, 196 1 AND IS NOT IN ACCORDANCE WITH SECTION 151 OF THE I.T. ACT, 1961, THUS, THE NOTICE ISSUED U/S. 148 OF THE ACT IS INVALID AND ACCORDINGLY THE REO PENING IN THIS IS BAD IN LAW AND THEREFORE, THE SAME IS HEREBY QUASHED. ACCORDI NGLY, THE LEGAL GROUND NO. 6 RAISED BY THE ASSESSEE IS ALLOWED. SINCE T HE OTHER GROUNDS WERE NOT RAISED BY THE ASSESSEE, THE SAME ARE DISMISSED AS SUC H. ACCORDINGLY, THE ASSESSEES APPEAL IS PARTLY ALLOWED. 6. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE STAND S PARTLY ALLOWED ORDER PRONOUNCED ON 18-12-2019. SD/- [H.S. SIDHU] JUDICIAL MEMBER DATED: 18-12-2019 SRB COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT AR, ITAT, NEW DELHI.