Appeal details
Counselvise Citation
[2016] 133 COUNSELVISE.COM (IT) 7212 (ITAT-DELHI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
2 year(s) 3 month(s) 19 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
28-01-2016
Appeal Filed By
Assessee
Order Result
Partly Allowed
Bench Allotted
G
Next Hearing Date
23-12-2015
Assessment Year
2004-2005
Appeal Filed On
09-10-2013
Judgement Text
O INCOME TAX APPELLATE TRIBUNAL DELHI BENCH G : NEW DELHI BEFORE SHRI VIJAY PAL RA O , JUDICIAL MEMBER AND SHRI O.P.KANT, ACCOUNTANT MEMBER IT A NO. 5516/ DEL/ 2013 (ASSESSMENT YEAR: 2004 - 05 ) SBT FINVEST PVT. LTD, 42, ANAND LOK, NEW DELHI PAN:AADCS1488A VS. ITO, WARD - 7(4), NEW DELHI ( ASSESSEE ) (RESPONDENT) APPELLANT BY : SH. V.K.JAIN, CA SH. NEM SINGH, CA RESPONDENT BY : SMT. ANIMA BARNWAL, SR. DR DATE OF HEARING 23.12.2015 DATE OF PRONOUNCEMENT 28 . 01 . 2016 O R D E R PER VIJAY PAL RAO, JM THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 08.08.2013 OF LD CIT(A) - X, NEW DELHI FOR THE ASSESSMENT YEAR 2004 - 05. 2. THE ASSESSEE HAS RAISED THE FOLLOWING GROUNDS: - 1. THAT IN THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LEARNED CIT(A) HAS ERRED IN CONFIRMING THE INITIATION OF PROCEEDING U/S 148, AS THERE WAS NO APPLICATION OF MIND ON THE AOS PART, IN THE INITIATION OF SUCH PROCEEDINGS. 2. THAT IN THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LEARNED CIT(A) HAS ERRED IN CONFIRMING AN ADDITION MADE BY AOS U/S 68 OF THE INCOME TAX ACT OF RS.49,80,000/ - ON ACCOUNT OF SHARE APPLICATION MONEY. 3. THAT IN THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LEARNED CIT(A) HAS ERRED IN CONFIRMING AN ADDITION MADE BY AOS U/S 68 OF THE INCOME TAX ACT OF RS.7,13,143/ - ON ACCOUNT OF UNSECURED LOAN. 3. WE HAVE HEARD THE HEARD BOTH THE PARTIES AND HAVE CONSIDERED THE RELEVANT MATERIAL ON RECORD. AT THE OUTS ET WE NOTE THAT THE AO ISSUED A NOTICE U/S 143(2) ON 18.01.2011 BY FIXING THE DATE OF HEARING OF THE MATTER ON 28.11.2011. THE LD AR OF THE ASSESSEE HAS SUBMITTED THAT THIS NOTICE DATED 18.11.2011 WAS RECEIVED BY THE ASSESSEE ONLY ON 1 ST DECEMBER 2011, WHE REAS THE AO HAS ALREADY PASSED THE IMPUGNED ASSESSMENT ORDER ON 30.11.2011 AND THERE FORE, THE ASSESSEE WAS NOT GIVEN AN A PPROPRIATE OPPORTUNITY OF HEARING BY THE AO BEFORE PASSING THE PAGE NO. 2 IMPUGNED ORDER. THE ASSESSEE HAS ALSO FILED AN AFFIDAVIT IN SUPPORT OF THIS FACT THAT THE NOTICE ISSUED BY THE AO DATED 18.11. 2011 WAS RECEIVED ON 01.12.2011. T HEREFORE , THE REQUISITE DETAILS AND DOCUMENTS AS WELL AS INFORMATION COULD NOT BE FILED BEFORE THE AO AS THE IMPUGNED ASSESSMENT ORDER WAS PASSED ON 30.11.2011 PRIOR T O RECEIVING OF THE SAID NOTICE. 4. IN VIEW OF THE ABOVE FACTS AND CIRCUMSTANCES WHEN THE NOTICE DATED 18.11.2011 WAS RECEIVED BY THE ASSESSEE ONLY ON 1 ST DECEMBER 2011, WE FIND THAT THE ASSESSEE WAS NOT GIVEN ANY APPROPRIATE OPPORTUNITY OF HEARING BEFORE PASSING THE IMPUGNED ORDER ON 30.11.2011 . A CCORDINGLY IN THE FACTS AND CIRCUMSTANCES OF THE CASE AS WELL AS IN THE INTEREST OF JUSTICE WE SET ASIDE THE MATTER TO THE RECORD OF THE AO FOR PROVIDING ONE MORE OPPORTUNITY OF HEARING TO THE ASSESSEE TO REPRESEN T ITS CASE. 5. IN THE RESULT THE APPEAL OF THE ASSESSEE IS PARTLY ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 28 . 01 .201 6 . - SD/ - - SD/ - ( O.P.KANT ) ( VIJAY PAL RAO ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 28 / 01 / 201 6 A K KEOT COPY FORWARDED TO 1 . APPLICANT 2 . RESPONDENT 3 . CIT 4 . CIT (A) 5 . DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI
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