DCIT, New Delhi V. M/s. Amrapali Silicon City Pvt. Ltd., Noida

ITA 4840/DEL/2014

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 6587 (ITAT-DELHI)
• Duration Of Justice: 6 year(s) 7 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-04-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2011-2012
• Appeal Filed On: 04-09-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: PARAMITA M VISWAS
• Keywords: Bogus purchase

Judgement Text

PAGE | 1 INCOME TAX APPELLATE TRIBUNAL DELHI BENCH E : NEW DELHI BEFORE SHRI AMIT SHUKLA , JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER (THROUGH VIDEO CONFERENCING) ITA NO. 4840/DEL/2014 (ASSESSMENT YEAR: 2011 - 12 ) DCIT, CENTRAL CIRCLE - 7, NEW DELHI VS. AMRAPALI SILICON CITY PVT LTD, C - 56/40, SECTOR - 62, NOIDA PAN: AAICA2629L (APPELLANT) (RESPONDENT) REVENUE BY : NONE ASSESSEE BY: MS. PARAMITA M. VISWAS, CIT DR DATE OF HEARING 07/04 / 2021 DATE OF PRONOUNCEMENT 07 / 04 / 2021 O R D E R PER PRASHANT MAHARISHI , A. M. 1. THIS APPEAL IS FILED BY THE REVENUE AGAINST ORDER OF THE LEARNERS CIT (A), NEW DELHI DATED 16 /0 6 / 2014 FOR ASSESSMENT YEAR 2011 - 12 RAISING FOLLOWING GROUNDS OF APPEAL : - 1. THE ORDER OF LD. CIT (A) IS NOT CORRECT IN LAW AND FACTS. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE THE LD. CIT (A) HAS ERRED IN DELETING THE ADDITION OF RS.34,36,105/ - MADE BY AO ON ACCOUNT OF SALE OF SCRAP. 3. ON THE FACTS AND CIRCUMSTANCES OF THE CASE THE LD. CIT (A) HAS ERRED IN DELETING THE ADDITION OF RS.39,31,992/ - MADE BY AO ON ACCOUNT OF INTEREST ON FIXED DEPOSIT. 4. ON THE FACTS AND CIRCUMSTANCES OF THE CASE THE LD. CIT (A) HAS ERRED IN DELETING THE ADDITION OF RS.2,00,0 0,000/ - MADE BY AO ON ACCOUNT OF BOGUS PURCHASES WHICH WERE CAPITALIZED. 2. THE ABOVE COMPANY IS UNDERGOING INSOLVENCY PROCEEDINGS U / S 7 OF THE INSOLVENCY AND BANKRUPTCY ACT , 2016 VIDE ORDER DATED 0 4 /0 9 / 2017 PASSED BY THE NATIONAL COMPANY LAW TRIBUNAL , NEW D ELHI PRINCIPAL BENCH. THE PETITION OF THE CORPORATE CREDITOR IS ADMITTED AND IR P HAS BEEN APPOINTED . AS PER PARA 23 OF THE ORDER THE MORATORIUM UNDER SECTION 14 A PAGE | 2 OF THE ACT IS GRANTED . ACCORDING TO THE MORATORIUM CONTINUATION OF PENDING SUITS ARE PROHIBITED . IN VIEW OF THE ABOVE FACTS WE DISMISS THE APPEAL OF THE REVENUE WITH A LIBERTY THAT ON COMPLETION OF THE INSOLVENCY PROCEEDINGS IF REVENUE WANTS TO PURSUE THE MATTER THE APPROPRIATE APPLICATION FOR RECALL OF THIS ORDER MAY BE MADE . IN VIEW OF T HIS THE APPEAL OF THE REVENUE IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON 07 / 04 / 2021 . - SD/ - - SD/ - ( AMIT SHUKLA ) (PRASHANT MAHARISHI) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 07 / 04 / 2021 A K KEOT COPY FORWARDED TO 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR:ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI