DCIT, New Delhi V. M/s. Wave Infratech Pvt. Ltd., Noida

ITA 5218/DEL/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 3904 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 2 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-11-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2012-2013
• Appeal Filed On: 19-08-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHEFALI SWAROOP
• Keywords: Earning of tax free income
• Section: 14A

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 E EE E : 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, PRESIDENT PRESIDENT PRESIDENT PRESIDENT AND AND AND AND SHRI KULDIP SINGH SHRI KULDIP SINGH SHRI KULDIP SINGH SHRI KULDIP SINGH, JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA ITAITA ITA NO NONO NO S SS S . .. . 5215/DEL/2015 & 5218/DEL/2015 5215/DEL/2015 & 5218/DEL/2015 5215/DEL/2015 & 5218/DEL/2015 5215/DEL/2015 & 5218/DEL/2015 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR S SS S : : : : 2011 2011 2011 2011 - -- - 12 & 2012 12 & 2012 12 & 2012 12 & 2012 - -- - 13 1313 13 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- -- -29, 29, 29, 29, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. VS. VS. VS. VS. M/S WAVE INFRATECH PVT.LTD., M/S WAVE INFRATECH PVT.LTD., M/S WAVE INFRATECH PVT.LTD., M/S WAVE INFRATECH PVT.LTD., C CC C- -- -1, SECTOR 1, SECTOR 1, SECTOR 1, SECTOR- -- -3, 3,3, 3, NOIDA, NOIDA, NOIDA, NOIDA, UTTAR PRADESH UTTAR PRADESH UTTAR PRADESH UTTAR PRADESH 201 301. 201 301. 201 301. 201 301. PAN : AAACW7708G. PAN : AAACW7708G. PAN : AAACW7708G. PAN : AAACW7708G. (APPELLANT) (RESPONDENT) APPELLANT BY : MS. SHEFALI SWAROOP, CIT - DR. RESPONDENT BY : SHRI SANAT KAPOOR, ADVO CATE. DATE OF HEARING : 31.10.2017 31.10.2017 31.10.2017 31.10.2017 DATE OF PRONOUNCEMENT : 02.11.2017 02.11.2017 02.11.2017 02.11.2017 ORDER ORDER ORDER ORDER PER G.D. AGRAWAL, PER G.D. AGRAWAL, PER G.D. AGRAWAL, PER G.D. AGRAWAL, PRESIDENT PRESIDENT PRESIDENT PRESIDENT : :: :- -- - THESE TWO APPEALS BY THE REVENUE FOR THE ASSESSMEN T YEAR 2011-12 AND 2012-13 ARE DIRECTED AGAINST THE ORDER OF LEARNED CIT(A)- 30, NEW DELHI DATED 22 ND MAY, 2015. 2. IN BOTH THESE APPEALS, THE REVENUE HAS RAISED ON LY ONE COMMON GROUND AGAINST THE DELETION OF DISALLOWANCE MADE BY THE ASSESSING OFFICER U/S 14A OF THE INCOME-TAX ACT, 1961. 3. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D PERUSED RELEVANT MATERIAL PLACED BEFORE US. IT WAS POINTED OUT BY THE LEARNED COUNSEL THAT THERE IS NO EXEMPT INCOME IN ANY OF TH E YEARS UNDER APPEAL AND, THEREFORE, THE ISSUE UNDER CONSIDERATIO N IS SQUARELY COVERED BY THE DECISION OF HON'BLE JURISDICTIONAL H IGH COURT IN THE CASE OF CHEMINVEST LTD. VS. CIT [2015] 378 ITR 33 (DEL HI). ITA-5215 & 5218/DEL/2015 2 4. LEARNED DR, ON THE OTHER HAND, RELIED UPON THE O RDER OF THE ASSESSING OFFICER. 5. AFTER CONSIDERING THE FACTS OF THE CASE AND ARGU MENTS OF BOTH THE SIDES, WE AGREE WITH THE CONTENTION OF THE LEARNED COUNSEL FOR THE ASSESSEE THAT THE ISSUE IS SQUARELY COVERED IN FAVO UR OF THE ASSESSEE BY THE DECISION OF HON'BLE JURISDICTIONAL HIGH COUR T IN THE CASE OF CHEMINVEST LTD. (SUPRA), WHEREIN THEIR LORDSHIPS HE LD AS UNDER :- HELD, THAT NO EXEMPTED INCOME WAS EARNED BY THE ASSESSEE IN THE RELEVANT ASSESSMENT YEAR AND SINCE THE GENUINENESS OF THE EXPENDITURE INCURRED BY THE ASSE SSEE WAS NOT IN DOUBT, NO DISALLOWANCE COULD BE MADE UND ER SECTION 14A. 6. RESPECTFULLY FOLLOWING THE ABOVE DECISION OF HON 'BLE JURISDICTIONAL HIGH COURT, WE UPHOLD THE ORDER OF LEARNED CIT(A) A ND DISMISS THE APPEALS FILED BY THE REVENUE. 7. IN THE RESULT, BOTH THE APPEALS OF THE REVENUE A RE DISMISSED. DECISION PRONOUNCED IN THE OPEN COURT ON 02.11.2017 . SD/- SD/- (KULDIP SINGH (KULDIP SINGH (KULDIP SINGH (KULDIP SINGH ) )) ) ( (( ( G.D. AGRAWAL G.D. AGRAWAL G.D. AGRAWAL G.D. AGRAWAL ) )) ) JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER PRESIDENT PRESIDENT PRESIDENT PRESIDENT VK. COPY FORWARDED TO: - 1. APPELLANT : DEPUTY COMMISSIONER OF INCOME TA X, DEPUTY COMMISSIONER OF INCOME TAX, DEPUTY COMMISSIONER OF INCOME TAX, DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE CENTRAL CIRCLE- -- -29, NEW D 29, NEW D 29, NEW D 29, NEW DELHI. ELHI. ELHI. ELHI. 2. RESPONDENT : M/S WAVE INFRATECH PVT.LTD., M/S WAVE INFRATECH PVT.LTD., M/S WAVE INFRATECH PVT.LTD., M/S WAVE INFRATECH PVT.LTD., C CC C- -- -1, SECTOR 1, SECTOR 1, SECTOR 1, SECTOR- -- -3, NOIDA, UTTAR PRADESH 3, NOIDA, UTTAR PRADESH 3, NOIDA, UTTAR PRADESH 3, NOIDA, UTTAR PRADESH 201 301. 201 301. 201 301. 201 301. 3. CIT 4. CIT(A) 5. DR, ITAT ASSISTANT REGISTRAR