M/s. J.H. Finvest Pvt. Ltd., Delhi V. DCIT, New Delhi

ITA 3952/DEL/2015

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 8159 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 10 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Assessment Year: 2009-2010
• Appeal Filed On: 12-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S S RANA
• Keywords: Depreciation
• Section: 153A; 14A; 68; 132

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI DELHI DELHI BENCH BENCH BENCH BENCH G GG G : NEW DELHI : NEW DELHI : NEW DELHI : NEW DELHI BEFORE SHRI BEFORE SHRI BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, G.D. AGRAWAL, G.D. AGRAWAL, G.D. AGRAWAL, VICE VICE VICE VICE PRESIDENT PRESIDENT PRESIDENT PRESIDENT AND AND AND AND MS. SUCHITRA KAMBLE MS. SUCHITRA KAMBLE MS. SUCHITRA KAMBLE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA ITAITA ITA NO NONO NO S SS S . .. . 3946/DEL/2015, 3947/DEL/2015 & 3948/DEL/2015 3946/DEL/2015, 3947/DEL/2015 & 3948/DEL/2015 3946/DEL/2015, 3947/DEL/2015 & 3948/DEL/2015 3946/DEL/2015, 3947/DEL/2015 & 3948/DEL/2015 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR S SS S : : : : 2005 2005 2005 2005 - -- - 06, 2006 06, 2006 06, 2006 06, 2006 - -- - 07 & 2007 07 & 2007 07 & 2007 07 & 2007 - -- - 08 0808 08 M MM M /S SIDDHI VINAYAK AROMATICS /S SIDDHI VINAYAK AROMATICS /S SIDDHI VINAYAK AROMATICS /S SIDDHI VINAYAK AROMATICS PVT.LTD., PVT.LTD., PVT.LTD., PVT.LTD., (NOW MERGED WITH AND (NOW MERGED WITH AND (NOW MERGED WITH AND (NOW MERGED WITH AND KNOWN AS SURYA VINAYAK KNOWN AS SURYA VINAYAK KNOWN AS SURYA VINAYAK KNOWN AS SURYA VINAYAK HOSPITALITIES PVT.LTD.), HOSPITALITIES PVT.LTD.), HOSPITALITIES PVT.LTD.), HOSPITALITIES PVT.LTD.), 13 1313 13- -- -B, 3 B, 3 B, 3 B, 3 RD RDRD RD FLOOR, FLOOR, FLOOR, FLOOR, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, DARYAGANJ, DARYAGANJ, DARYAGANJ, DARYAGANJ, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. PAN : AAECS6671A. PAN : AAECS6671A. PAN : AAECS6671A. PAN : AAECS6671A. VS. VS. VS. VS. DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF INCOME TAX, INCOME TAX, INCOME TAX, INCOME TAX, CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE- -- -1, 1,1, 1, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. (APPELLANT) (RESPONDENT) ITA ITA ITA ITA NO NONO NO.3949/DEL/2015 .3949/DEL/2015 .3949/DEL/2015 .3949/DEL/2015 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR : 2009 : 2009 : 2009 : 2009 - -- - 10 1010 10 M/S BHARAT EXPORTS M/S BHARAT EXPORTS M/S BHARAT EXPORTS M/S BHARAT EXPORTS CORPORATION PVT.LTD., CORPORATION PVT.LTD., CORPORATION PVT.LTD., CORPORATION PVT.LTD., (NOW MERGED WITH AND (NOW MERGED WITH AND (NOW MERGED WITH AND (NOW MERGED WITH AND KNOWN AS SURYA VINAYAK KNOWN AS SURYA VINAYAK KNOWN AS SURYA VINAYAK KNOWN AS SURYA VINAYAK HOSPITALITIES PVT.LTD.), HOSPITALITIES PVT.LTD.), HOSPITALITIES PVT.LTD.), HOSPITALITIES PVT.LTD.), 13 1313 13- -- -B, 3 B, 3 B, 3 B, 3 RD RDRD RD FLOOR, FLOOR, FLOOR, FLOOR, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, DARYAGANJ, DARYAGANJ, DARYAGANJ, DARYAGANJ, NE NENE NEW DELHI. W DELHI. W DELHI. W DELHI. PAN : AABCB1748E. PAN : AABCB1748E. PAN : AABCB1748E. PAN : AABCB1748E. VS. VS. VS. VS. DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF INCOME TAX, INCOME TAX, INCOME TAX, INCOME TAX, CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE- -- -1, 1,1, 1, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. (APPELLANT) (RESPONDENT) ITA-3946/DEL/2015 & 6 OTHERS 2 ITA ITA ITA ITA NO NONO NO .3950/DEL/2015 .3950/DEL/2015 .3950/DEL/2015 .3950/DEL/2015 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR : 2006 : 2006 : 2006 : 2006 - -- - 07 0707 07 M/S J.H. BUSINESS INDIA M/S J.H. BUSINESS INDIA M/S J.H. BUSINESS INDIA M/S J.H. BUSINESS INDIA PVT.LTD., PVT.LTD., PVT.LTD., PVT.LTD., (NOW MERGED WITH AND (NOW MERGED WITH AND (NOW MERGED WITH AND (NOW MERGED WITH AND KNOWN KNOWN KNOWN KNOWN AS ALLIED PERFUMERS AS ALLIED PERFUMERS AS ALLIED PERFUMERS AS ALLIED PERFUMERS PRIVATE LIMITED), PRIVATE LIMITED), PRIVATE LIMITED), PRIVATE LIMITED), 13 1313 13- -- -B, 3 B, 3 B, 3 B, 3 RD RDRD RD FLOOR, FLOOR, FLOOR, FLOOR, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, DARYAGANJ, DARYAGANJ, DARYAGANJ, DARYAGANJ, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. PAN : AA PAN : AA PAN : AA PAN : AAACJ9513G. ACJ9513G. ACJ9513G. ACJ9513G. VS. VS. VS. VS. DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF INCOME TAX, INCOME TAX, INCOME TAX, INCOME TAX, CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE- -- -1, 1,1, 1, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. (APPELLANT) (RESPONDENT) ITA ITA ITA ITA NO NONO NO S.3951/DEL/2015 & 395 S.3951/DEL/2015 & 395 S.3951/DEL/2015 & 395 S.3951/DEL/2015 & 395 2/DEL/2015 2/DEL/2015 2/DEL/2015 2/DEL/2015 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR S SS S : : : : 2005 2005 2005 2005 - -- - 06 & 2009 06 & 2009 06 & 2009 06 & 2009 - -- - 10 1010 10 M/S J.H. FINVEST PVT.LTD., M/S J.H. FINVEST PVT.LTD., M/S J.H. FINVEST PVT.LTD., M/S J.H. FINVEST PVT.LTD., (NOW MERGED WITH AND (NOW MERGED WITH AND (NOW MERGED WITH AND (NOW MERGED WITH AND KNOWN AS SURYA VINAYAK KNOWN AS SURYA VINAYAK KNOWN AS SURYA VINAYAK KNOWN AS SURYA VINAYAK HOSPITALITIES PVT.LTD.), HOSPITALITIES PVT.LTD.), HOSPITALITIES PVT.LTD.), HOSPITALITIES PVT.LTD.), 13 1313 13- -- -B, 3 B, 3 B, 3 B, 3 RD RDRD RD FLOOR, FLOOR, FLOOR, FLOOR, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, NETAJI SUBHASH MARG, DARYAGANJ, DARYAGANJ, DARYAGANJ, DARYAGANJ, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. PAN : AABCJ1341H. PAN : AABCJ1341H. PAN : AABCJ1341H. PAN : AABCJ1341H. VS. VS. VS. VS. DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF DEPUTY COMMISSIONER OF INCOME TAX, INCOME TAX, INCOME TAX, INCOME TAX, CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE- -- -1, 1,1, 1, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. (APPELLANT) (RESPONDENT) APPELLANT S BY : SHRI RAJIV SAXENA, ADVOCATE. RESPONDENT BY : SHRI S.S. RANA, CIT - DR. DATE OF HEARING : 15.04.2019 15.04.2019 15.04.2019 15.04.2019 DATE OF PRONOUNCEMENT : 16.04 16.04 16.04 16.04.2019 .2019 .2019 .2019 ORDER ORDER ORDER ORDER PER BENCH PER BENCH PER BENCH PER BENCH : :: :- -- - THESE APPEALS BY THE ASSESSEES FOR THE ASSESSMENT YEARS 2005- 06, 2006-07, 2007-08 AND 2009-10 ARE DIRECTED AGAIN ST SEPARATE ITA-3946/DEL/2015 & 6 OTHERS 3 ORDERS OF LEARNED CIT(A)-25, NEW DELHI DATED 25 TH MARCH, 2015 AND 31 ST MARCH, 2015. 2. IN THIS GROUP OF APPEALS, COMMON GROUNDS HAVE BEEN RAISED AND THEREFORE, THEY WERE ALL HEARD TOGETHER AND ARE BEI NG ADJUDICATED UPON SIMULTANEOUSLY. 3. AT THE TIME OF HEARING BEFORE US, IT IS STATED BY T HE LEARNED COUNSEL THAT IN ALL THE ABOVE GROUP OF APPEALS, ASSESSMEN TS HAVE BEEN COMPLETED UNDER SECTION 153A READ WITH SECTION 143( 3). THAT THE ADDITIONS HAVE BEEN MADE WITHOUT ANY INCRIMINATING M ATERIAL AND THEREFORE, THE ADDITION IS UNCALLED FOR UNDER SECTIO N 153A. IN SUPPORT OF HIS CONTENTION, HE RELIED UPON THE DECISION OF HON 'BLE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. KABUL CHAWLA [201 5] 234 TAXMAN 300 (DELHI). HE STATED THAT THE ADDITIONS HAVE BEEN MADE BY CHANGING THE HEAD OF INCOME I.E., THE RENTAL INCOME HAS BEEN ASSESSED AS INCOME FROM OTHER SOURCES INSTEAD OF INCOME FROM HOUS E PROPERTY. CERTAIN DISALLOWANCE UNDER SECTION 14A HAS BEEN MADE AND SOME ADDITIONS UNDER SECTION 68 HAVE BEEN MADE THOUGH THE RE WAS NO INCRIMINATING MATERIAL. HE, THEREFORE, STATED THAT ALL THE ADDITIONS ARE OUT OF THE PURVIEW OF SECTION 153A AND SAME SHOULD BE DELETED. 4. LEARNED CIT-DR, ON THE OTHER HAND, RELIED UPON T HE ORDERS OF AUTHORITIES BELOW. 5. WE HAVE CAREFULLY CONSIDERED THE ARGUMENTS OF BOTH THE SIDES AND PERUSED THE MATERIAL PLACED BEFORE US. WE FIND T HAT IN THESE APPEALS, FOLLOWING ADDITIONS HAVE BEEN MADE BY THE ASSE SSING OFFICER AND SUSTAINED BY THE LEARNED CIT(A) :- ITA-3946/DEL/2015 & 6 OTHERS 4 (I) IN THE CASE OF M/S SIDHI VINAYAK AROMATICS PVT.LTD . AY 2005-06 & 2006-07 VIDE ITA NO.3946/DEL/2015 & 3947/DEL/2015 - IN THESE TWO YEARS, THE ASSESSING OFFICER HAS ASSESSED THE RE NTAL INCOME UNDER THE HEAD INCOME FROM OTHER SOURCES AS A GAINST INCOME FROM HOUSE PROPERTY DISCLOSED BY THE ASSESSEE W HICH RESULTED IN THE ADDITION/DISALLOWANCE OF `10,08,000/- IN EACH YEAR. (II) IN THE CASE OF M/S SIDHI VINAYAK AROMATICS PVT.LT D. AY 2007-08 VIDE ITA NO.3948/DEL/2015 - IN ASSESSMENT YEAR 2007-08, IN ADDITION TO THE ASSESSMENT OF RENTAL INCOME UNDER THE HEAD INCOME FROM HOUSE PROP ERTY, FURTHER DEPRECIATION IS DISALLOWED AMOUNTING TO `79,2 97/- AND ADDITIONS HAVE BEEN MADE UNDER SECTION 68 AMOUNTING TO `20,00,000/-. (III) IN THE CASE OF M/S BHARAT EXPORTS CORPORATION PV T.LTD. AY 2009- 10 VIDE ITA NO.3949/DEL/2015 THE ONLY DISPUTE IS WITH REGARD TO DISALLOWANCE UNDE R SECTION 14A AMOUNTING TO `9,15,816/-. (IV) IN THE CASE OF M/S J.H. BUSINESS INDIA PVT.LTD. A Y 2006-07 VIDE ITA NO.3950/DEL/2015 - THE ONLY DISPUTE IS WITH REGARD TO ADDITION OF `5,00 ,000/- UNDER SECTION 68. ITA-3946/DEL/2015 & 6 OTHERS 5 (V) IN THE CASE OF M/S J.H. FINVEST PVT.LTD. AY 200 5-06 VIDE ITA NO.3951/DEL/2015 - THE ONLY DISPUTE IS WITH REGARD TO ADDITION UNDER SE CTION 68 AMOUNTING TO `12,00,000/-. (VI) IN THE CASE OF M/S J.H. FINVEST PVT.LTD. AY 20 09-10 VIDE ITA NO.3952/DEL/2015 - THE ONLY DISPUTE IS DISALLOWANCE UNDER SECTIN 14A AMO UNTING TO `8,70,089/-. 6. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AND P ERUSED THE MATERIAL PLACED BEFORE US. WE HAVE GONE THROUGH THE ASSESSMENT ORDER IN EACH ASSESSMENT YEAR IN THE CASE OF ALL THE AB OVE ASSESSEES AND WE DO NOT FIND MENTION OF ANY INCRIMINATING MAT ERIAL WHILE MAKING THE ABOVE ADDITIONS. HON'BLE JURISDICTIONAL HIGH COU RT IN THE CASE OF KABUL CHAWLA (SUPRA) HAS HELD AS UNDER :- SUMMARY OF THE LEGAL POSITION. 37. ON A CONSPECTUS OF SECTION 153A(1) OF THE ACT, R EAD WITH THE PROVISOS THERETO, AND IN THE LIGHT OF THE LA W EXPLAINED IN THE AFOREMENTIONED DECISIONS, THE LEGAL POSITION THAT EMERGES IS AS UNDER:- I. ONCE A SEARCH TAKES PLACE UNDER SECTION 132 OF THE ACT, NOTICE UNDER SECTION 153A(1) WILL HAVE TO BE MANDATORILY ISSUED TO THE PERSON SEARCHED REQUIRING HI M TO FILE RETURNS FOR SIX AYS IMMEDIATELY PRECEDING THE PRE VIOUS YEAR RELEVANT TO THE AY IN WHICH THE SEARCH TAKES PLA CE. II. ASSESSMENTS AND REASSESSMENTS PENDING ON THE DATE OF THE SEARCH SHALL ABATE. THE TOTAL INCOME FOR SUCH AYS WILL HAVE TO BE COMPUTED BY THE AOS AS A FRESH EXERCI SE. ITA-3946/DEL/2015 & 6 OTHERS 6 III. THE AO WILL EXERCISE NORMAL ASSESSMENT POWERS IN RESPECT OF THE SIX YEARS PREVIOUS TO THE RELEVANT AY IN WHICH THE SEARCH TAKES PLACE. THE AO HAS THE POWER TO ASSESS AND REASSESS THE TOTAL INCOME OF THE AFOREMENTIONED SIX YEARS IN SEPARATE ASSESSMENT ORDERS FOR EACH OF THE SIX YEARS. IN OTHER WORDS THERE WILL BE ONLY ONE ASSESSMENT ORDER IN RESPECT OF EACH OF THE SIX AYS IN WHICH BOTH THE DISCLOSED AND THE UNDISCLOSED INCOME WOULD BE BROUGHT TO TAX. IV. ALTHOUGH SECTION 153A DOES NOT SAY THAT ADDITIONS SHOULD BE STRICTLY MADE ON THE BASIS OF EVIDENCE FOUND IN THE COURSE OF THE SEARCH, OR OTHER POST-SEARCH MATERI AL OR INFORMATION AVAILABLE WITH THE AO WHICH CAN BE RELA TED TO THE EVIDENCE FOUND, IT DOES NOT MEAN THAT THE ASSESSMENT CAN BE ARBITRARY OR MADE WITHOUT ANY RELEVANCE OR NEXUS WITH THE SEIZED MATERIAL. OBVIOUSLY AN ASSESSMENT HAS TO BE MADE UNDER THIS SECTION ONLY ON THE BASIS OF SEIZED MATERIAL. V. IN ABSENCE OF ANY INCRIMINATING MATERIAL, THE COMPLETED ASSESSMENT CAN BE REITERATED AND THE ABATED ASSESSMENT OR REASSESSMENT CAN BE MADE. THE WORD ASSESS IN SECTION 153A IS RELATABLE TO ABATED PROCEEDI NGS (I.E. THOSE PENDING ON THE DATE OF SEARCH) AND THE WO RD REASSESS TO COMPLETED ASSESSMENT PROCEEDINGS. VI. INSOFAR AS PENDING ASSESSMENTS ARE CONCERNED, THE JURISDICTION TO MAKE THE ORIGINAL ASSESSMENT AND THE ASSESSMENT UNDER SECTION 153A MERGES INTO ONE. ONLY ONE ASSESSMENT SHALL BE MADE SEPARATELY FOR EACH AY ON THE BASIS OF THE FINDINGS OF THE SEARCH AND ANY OTHER MATERIAL EXISTING OR BROUGHT ON THE RECORD OF THE AO . VII. COMPLETED ASSESSMENTS CAN BE INTERFERED WITH BY THE AO WHILE MAKING THE ASSESSMENT UNDER SECTION 153A ONLY ON THE BASIS OF SOME INCRIMINATING MATERIAL UNEAR THED DURING THE COURSE OF SEARCH OR REQUISITION OF DOCUMENT S OR UNDISCLOSED INCOME OR PROPERTY DISCOVERED IN THE COURSE OF SEARCH WHICH WERE NOT PRODUCED OR NOT ALREADY DISCLOSE D OR MADE KNOWN IN THE COURSE OF ORIGINAL ASSESSMENT. CONCLUSION 38. THE PRESENT APPEALS CONCERN AYS 2002-03, 2005-06 AND 2006-07. ON THE DATE OF THE SEARCH THE SAID ITA-3946/DEL/2015 & 6 OTHERS 7 ASSESSMENTS ALREADY STOOD COMPLETED. SINCE NO INCRIMINATING MATERIAL WAS UNEARTHED DURING THE SEARC H, NO ADDITIONS COULD HAVE BEEN MADE TO THE INCOME ALREADY ASSESSED. 7. THE ABOVE VIEW IS REITERATED BY HON'BLE JURISDICTI ONAL HIGH COURT IN VARIOUS SUBSEQUENT DECISIONS. THEREFORE, WE, RESPECT FULLY FOLLOWING THE ABOVE DECISION OF HON'BLE JURISDICTIONAL HIGH COU RT, HOLD THAT THE ADDITION UNDER SECTION 153A CAN BE MADE ONLY WITH R EFERENCE TO THE INCRIMINATING MATERIAL FOUND AS A RESULT OF THE SEARCH OF THE ASSESSEE. ADMITTEDLY, IN ALL THE ABOVE ASSESSMENT YEARS, NONE OF T HE ABOVE ADDITIONS IS BASED ON ANY INCRIMINATING MATERIAL. WE , THEREFORE, RESPECTFULLY FOLLOWING THE DECISION OF HON'BLE JURISDI CTIONAL HIGH COURT IN THE CASE OF KABUL CHAWLA (SUPRA), DELETE ALL THE A BOVE ADDITIONS. 8. IN THE RESULT, ALL THE APPEALS OF THE ASSESSEES ARE ALL OWED. DECISION PRONOUNCED IN THE OPEN COURT ON 16.04.2019. SD/- SD/- (SUCHITRA KAMBLE (SUCHITRA KAMBLE (SUCHITRA KAMBLE (SUCHITRA KAMBLE ) )) ) ( (( ( G.D. AGRAWAL G.D. AGRAWAL G.D. AGRAWAL G.D. AGRAWAL ) )) ) JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER VICE VICE VICE VICE PRESIDENT PRESIDENT PRESIDENT PRESIDENT VK. COPY FORWARDED TO: - 1. APPELLANT : M/S SIDDHI VINAYAK AROMATICS PVT.L TD., M/S SIDDHI VINAYAK AROMATICS PVT.LTD., M/S SIDDHI VINAYAK AROMATICS PVT.LTD., M/S SIDDHI VINAYAK AROMATICS PVT.LTD., M/S BHARAT EXPORTS CORPORATIO M/S BHARAT EXPORTS CORPORATIO M/S BHARAT EXPORTS CORPORATIO M/S BHARAT EXPORTS CORPORATION PVT.LTD., N PVT.LTD., N PVT.LTD., N PVT.LTD., M/S J.H. BUSINESS INDIA PVT.LTD. & M/S J.H. BUSINESS INDIA PVT.LTD. & M/S J.H. BUSINESS INDIA PVT.LTD. & M/S J.H. BUSINESS INDIA PVT.LTD. & M/S J.H. FINVEST PVT.LTD., M/S J.H. FINVEST PVT.LTD., M/S J.H. FINVEST PVT.LTD., M/S J.H. FINVEST PVT.LTD., 2. RESPONDENT : DEPUTY COMMISSIONER OF INCOME TAX, DEPUTY COMMISSIONER OF INCOME TAX, DEPUTY COMMISSIONER OF INCOME TAX, DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE- -- -1, NEW DELHI. 1, NEW DELHI. 1, NEW DELHI. 1, NEW DELHI. 3. CIT 4. CIT(A) 5. DR, ITAT ASSISTANT REGISTRAR