Arawali Finlease Private Limited, Delhi V. ITO, Ward-3(2), New Delhi

ITA 480/DEL/2020

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 6450 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 7 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-09-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 27-01-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Revision of order; Principle of natural justice; Set aside
• Section: 143(3); 133(6); 147; 148; 263

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES SMC : DELHI BEFORE SMT. DIVA SINGH, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA.NO.480/DEL./2020 ASSESSMENT YEAR 2009-10 ARAWALI FINLEASE PVT. LTD., C/O VIJAY GARG, 444, DEEPALI, PITAM PURA, DELHI. PAN NO. AADCA5345E [ VS. ITO WARD 3(2) NEW DELHI. (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI TARUN KUMAR, CA FOR REVENUE : SHRI R.K. GUPTA, SR. DR DATE OF HEARING : 07.09.2021 DATE OF PRONOUNCEMENT : 08.09.2021 HEARING CONDUCTED VIA W EBEX ORDER PER DIVA SINGH, J.M . THE PRESENT APPEAL HAS BEEN FILED BY THE ASSESSEE CHALLENGING THE ORDER DATED 22.03.2019 OF PR.CIT, N EW DELHI U/S 263 OF THE INCOME TAX ACT, 1961 PERTAININ G TO 2009-10 ASSESSMENT YEAR ON THE FOLLOWING GROUNDS: 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE ASS ESSING AUTHORITY HAS ERRED IN REOPENING OF THE CASE AGAIN U/S 147 OF THE ACT, ON THE MATTERS ALREADY CONSIDERED, DISCUSS ED DURING THE COURSE OF PROCEEDING OF CASE U/S 148 OF THE INC OME TAX ACT AND THEREFORE, THE ORDER PASSED BY THE ASSESSIN G OFFICER ITA.NO.480/DEL./2020 ARAWALI FINLEASE PRIVATE LIMITED PAGE 2 OF 4 ON THE BASIS OF DIRECTIONS OF PR. CIT U/S 263 OF TH E ACT, IS BAD IN LAW AND FACTS OF THE CASE AND DESERVES TO BE QUA SHED. 2. THAT THE ASSESSING OFFICER HAS GROSSLY ERRED IN MAK ING AN ADDITION OF RS. 18,36,000/- TO THE ALREADY DECLARED ACCEPTED INCOME, AS THE AMOUNT RECEIVED WAS AGAINST SALE OF SHARES AND HAS ALREADY BEEN DISCUSSED AND EXPLAINED IN THE ORIGINAL ASSESSMENT. THE ADDITION MADE DESERVES TO BE DELET ED. 3. THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF THE C ASE, THE SETTING ASIDE OF THE ORIGINAL ORDER PASSED U/S 147/ 143(3) OF THE ACT, BY THE PR. CIT, ON THE BASIS OF CHANGE IN PERSONAL OPINION IS BAD IN LAW AND FACTS OF THE CASE AND THE ORDER PASSED BY THE ASSESSING AUTHORITY ON THE BASIS OF D IRECTIONS OF PR. CIT U/S 263 OF THE ACT, DESERVES TO BE QUASH ED. 4. THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE, TH E ASSESSING AUTHORITY HAS ERRED IN LAW AND FACTS OF T HE CASE IN INITIATION OF REASSESSMENT PROCEEDING U/S 147/148 O F THE INCOME TAX ACT, 1961, WITHOUT HAVING COGENT AND DEF INITE MATERIAL ON RECORD FOR THE ALLEGED ACCOMMODATION EN TRIES AND ALSO WITHOUT MAKING ANY ENQUIRY ABOUT THE INFORMATI ON/REPORT RECEIVED FROM INVESTIGATION WING REGARDING ESCAPEME NT OF INCOME. 5. THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE, TH E AO HAS NOT GIVING ENOUGH TIME TO THE COMPANY TO FILE THEIR REPLY NOT GIVING TIME TO THE COMPANIES TO FILE THEIR REPLY IN RESPONSE TO NOTICE U/S 133(6) OF THE INCOME TAX ACT, 1961 AND, THEREFORE, PRINCIPLE OF NATURAL JUSTICE HAS NOT BEEN FOLLOWED. 6. THE ORDER PASSED IS AGAINST THE LAW AND FACTS OF TH E CASE AND PRAYED THE ORDER BE SET ASIDE. 7. ASSESSEE CRAVES LEAVE TO ADD, ALTER AND AMEND ANY O F THE TIME OF HEARING OR BEFORE THAT. 2. AT THE TIME OF HEARING, LD. AR RELYING UPON THE APPLICATION DATED 31 ST AUGUST, 2021 SENT BY E-MAIL TO THE REGISTRY SUBMIT TED THAT THE ASSESSEE WISHES TO WITHDRAWAL THE APPEAL F ILED. COPY OF FORM NO. 3 IT WAS SUBMITTED HAS BEEN ISSUED BY PR. CIT-10, ACCEPTING THE ASSESSEES DECLARATION UNDER THE VIVA D SE VISHWAS SCHEME, 2020. COPY OF THE CHALLAN PAYMENT ALSO FIL ED WAS RELIED UPON FOR THE PRAYER. LD. SR. DR SHRI R.K. GUPTA CO NSIDERING THE MATERIAL AVAILABLE ON RECORD SUBMITTED THAT THE APP EAL MAY BE TREATED AS WITHDRAWN. ITA.NO.480/DEL./2020 ARAWALI FINLEASE PRIVATE LIMITED PAGE 3 OF 4 3. WE HAVE HEARD THE PARTIES AND PERUSED THE MATERI AL AVAILABLE ON RECORD. CONSIDERING THE SUBMISSIONS I N THE LIGHT OF THE FACTS ON RECORD THE APPEAL OF THE ASSESSEE, WE DIRECT MAY BE TREATED AS WITHDRAWN. ACCORDINGLY, THE APPEAL IS D ISMISSED AS WITHDRAWN. 4. HOWEVER, BEFORE PARTING BY WAY OF ABUNDANT CAUTI ON, WE DEEM IT APPROPRIATE TO OBSERVE THAT IN CASE IT IS F OUND BY THE ASSESSEE THAT THE DISPUTE UNDER THE APPEAL IS NOT F ULLY SETTLED UNDER THE VIVAD SE VISHWAS SCHEME THEN THE ASSESSEE WILL BE AT LIBERTY TO APPROACH THE ITAT WITH A PRAYER FOR REST ORATION OF THIS APPEAL IN ACCORDANCE WITH LAW. 5. IN THE RESULT, THE APPEAL IS DISMISSED AS WITHDR AWN. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (ANADEE NATH MISSHRA) (DIVA SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DELHI. DATED 08/09/2021 *KAVITA ARORA, SPS COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT SMC-2 BENCH, DELHI 6. GUARD FILE. // BY ORDER // ASSISTANT REGISTRAR, ITAT DELHI BENCH ES : DELHI.