M/s. Ranbaxy Holding Company, New Delhi V. DCIT, New Delhi

ITA 5227/DEL/2015

• Counselvise Citation: [2018] 118 COUNSELVISE.COM (IT) 8870 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 4 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-12-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2005-2006
• Appeal Filed On: 20-08-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: TARUNDEEP SINGH
• Section: 143(3); 143(1); 263; 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: E NEW DELHI BEFORE SHRI G.D.AGRAWAL, VICE PRESIDENT & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER ITA NO. 5227/DEL/2015 ASSESSMENT YEAR: 2005-06 M/S RANBAXY HOLDING COMPANY 55, HANUMAN ROAD, CONNAUGHT PLACE, NEW DELHI. PAN:AACCR3684C VS. DCIT, CIRCLE - 15 (1), NEW DELHI ASSESSEE BY MR TARUNDEEP SINGH, ADVOCATE REVENUE BY MS. RINKU SINGH, SR. DR ORDER PER K NARASIMHA CHARY AGGRIEVED BY THE ORDER DATED 29 TH MAY 2015 IN APPEAL NO. 409/14-15 PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-7 (FOR SHORT LD. CIT(A)) DISMISSING THE APPEAL OF THE ASSESSEE, ASSESSEE PREFERRED THIS APPEAL. 2. BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE FILED THEIR RETURN OF INCOME ON 31/10/2005 FOR THE ASSESSMENT YEAR 2005-06 DECLARING NIL INCOME UNDER NORMAL PROVISIONS OF THE INCOME TAX ACT, 1961 AND RS.1,22,82,570/- DATE OF HEARING 19 . 12 . 2018 DATE OF PRONOUNCEMENT 26 .12.2 018 2 UNDER SECTION 115 JB OF THE ACT ALONG WITH AUDITED COPIES OF BALANCE SHEET, PROFIT AND LOSS ACCOUNT, TAX AUDIT REPORT AS PRESCRIBED UNDER SECTION 44 AB AND 115 JB OF THE ACT. CASE WAS PROCESSED UNDER SECTION 143(1) OF THE ACT AND THEREAFTER THE ASSESSMENT U/S 143(3) OF THE ACT WAS COMPLETED BY ORDER DATED 23/5/2007 AT RETURNED INCOME. SUBSEQUENTLY PROCEEDINGS UNDER SECTION 263 OF THE ACT WERE INITIATED AGAINST THE ASSESSEE. BY WAY OF ORDER DATED 25 TH OF MARCH 2009 LEARNED COMMISSIONER OF INCOME TAX-V, DELHI DIRECTED THE LEARNED AO TO MAKE AN ADDITION OF RS.72,07,020/-. LD. AO COMPLIED WITH THE SAME BY ORDER DATED 29/7/2009. 3. AGAINST THE ORDER DATED 29/7/2009 UNDER SECTION 263/143(3) OF THE ACT, ASSESSEE PREFERRED AN APPEAL BEFORE THE LD. CIT(A) AND THE LD. CIT(A) BY WAY OF IMPUGNED ORDER DISMISSED THE SAME. HENCE THE ASSESSEE IS BEFORE US IN THIS APPEAL. 4. AT THE OUTSET, IT IS BROUGHT TO OUR NOTICE THAT THE ORDER DATED 25/3/2009 UNDER SECTION 263 OF THE ACT PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX HAS BEEN QUASHED BY A COORDINATE BENCH OF THIS TRIBUNAL IN ITA NO. 1804/DEL/2009 BY ORDER DATED 06/6/2017. IT IS FURTHER SUBMITTED THAT THE APPEAL OF THE REVENUE AGAINST THE ORDERS OF THE TRIBUNAL BEFORE THE HONBLE HIGH COURT OF DELHI IN ITA NO. 95/2018 WAS DISMISSED BY THE HIGH COURT BY ORDER DATED 30/1/2018. BOTH THE ORDERS ARE PRODUCED BEFORE US AND WE HAVE GONE THROUGH THE SAME. THERE CANNOT BE ANY DISPUTE AS TO THESE FACTS WHICH ARE BROUGHT TO OUR NOTICE. SINCE THE VERY BASIS FOR THE ADDITION INVOLVED IN THIS MATTER, THAT IS, THE ORDER UNDER SECTION 263 OF THE ACT IS NO LONGER IN EXISTENCE, THE ADDITION CANNOT 3 SURVIVE. WE, ACCORDINGLY, RECORDING THE SAID FACT ALLOW THE APPEAL OF THE ASSESSEE AND QUASH THE ASSESSMENT ORDER DATED 29/7/2009. 5. APPEAL OF THE ASSESSEE IS, ACCORDINGLY, ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 26/12/2018. SD/- SD/- (G.D. AGRAWAL) (K. NARASIMHA CHARY) VICE PRESIDENT JUDICIAL MEMBER DATED: 26 TH DECEMBER, 2018 VJ COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI DRAFT DICTATED ON 19.12.2018 DRAFT PLACED BEFORE AUTHOR 19.12.2018 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER 19.12.2018 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. 19.12.2018 APPROVED DRAFT COMES TO THE SR.PS/PS 19.12.2018 KEPT FOR PRONOUNCEMENT ON 2 6 . 1 2 . 2 0 1 8 DATE OF UPLOADING ORDER ON THE WEBSITE 2 6 . 1 2 . 2 0 1 8 FILE SENT TO THE BENCH CLERK 2 6 . 1 2 . 2 0 1 8 DATE ON WHICH FILE GOES TO THE AR DATE ON WHICH FILE GOES TO THE HEAD CLERK. DATE OF DISPATCH OF ORDER.