M/s Jaipuria Infrastructure Developers P.Ltd., New Delhi V. ACIT, New Delhi

ITA 5524/DEL/2015

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 5248 (ITAT-DELHI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-02-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 17-09-2015
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: B NEW DELHI BEFORE SHRI H.S.SIDHU, JUDICIAL MEMBER & SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA NO.-5524/DEL/2015, A.Y. 2012-13 JAIPURIA INFRASTRUCTURE DEVELOPERS P. LTD. S-25, GREEN PARK MAIN MARKET NEW DELHI PAN : AACCB1286C VS . A CIT CENTRAL CIRCLE-7 NEW DELHI APPELLANT RESPONDENT ASSESSEE BY : NONE REVENUE BY : MS. SWATI JOSHI, CIT, DR ORDER PER ANADEE NATH MISSHRA, A.M.: (A) THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE IMPUGNED APPELLATE ORDER DATED 03.08.20 15 PASSED BY LEARNED COMMISSIONER OF INCOME TAX (APPEA LS)- 24, NEW DELHI [IN SHORT, LD. CIT(A)] PERTAINING TO ASSESSMENT YEAR 2012-13. THE ASSESSEE HAS RAISED FOLLOWING GROUNDS OF APPEAL :- 1. THAT ON FACTS AND CIRCUMSTANCES OF THE CASE, TH E ORDER PASSED BY THE LD. CIT(APPEALS) IS BAD BOTH IN THE EYES OF LAW AND ON FACTS. 2 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 2. THAT THE LD. CIT(APPEAL) HAS ERRED IN LAW AND O N FACTS IN CONFIRMING THE ADDITION OF RS. 6,31,000/- BY TREATING THE UNREALIZED SALES AS UNACCOUNTED SALE PROCEEDS. 3. THAT THE LD. CIT(APPEAL) HAS ERRED IN LAW AND ON FACTS IN CONFIRMING THE ADDITION OF RS. 1,00,000/- BY TREATING THE UNREALIZED AMOUNT AS UNACCOUNTED. 4. THAT THE LD. CIT(APPEAL) HAS ERRED IN LAQW AND ON FACTS IN CONFIRMING THE ADDITION OF RS. 4,37,400 /- BY TREATING THE UNREALIZED SALES AS UNACCOUNTED SAL E PROCEEDS. 5. THAT THE LD. CIT(APPEAL) HAS ERRED IN LAW AND O N FACTS IN CONFIRMING THE ADDITION OF RS. 8,50,000/- BY TREATING THE UNREALIZED SALES AS UNACCOUNTED SALE PROCEEDS. 6. THAT THE IMPUGNED APPELLATE ORDER IS ARBITRARY, ILLEGAL, BAD IN LAW AND IN VIOLATION OF RUDIMENTARY PRINCIPLES PRINCIPLES OF CONTEMPORARY JURISPRUDENCE . 7. THAT THE APPELLANT CRAVES LEAVE TO ADD/ ALTER ANY/ ALL GROUNDS OF APPEAL BEFORE OR AT THE TIME OF HEARING OF THE APPEAL. (B) AT THE TIME OF HEARING BEFORE US, LEARNED COMMISSIONER OF INCOME TAX (DEPARTMENTAL REPRESENTA TIVE) EXPRESSED THE POSSIBILITY THAT REVENUE MIGHT HAVE A LSO FILED AN APPEAL. WE HAVE PERUSED THE RECORDS; AND IT IS F OUND THAT APPEAL OF REVENUE IN ITA NO. 5890/DEL/2015 HAS ALREADY BEEN DISMISSED VIDE ORDER DATED 12/09/2019, ON 3 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) ACCOUNT OF LOW TAX EFFECT. AS THE CROSS APPEAL FILE D BY REVENUE HAS ALREADY BEEN DISMISSED, WE PROCEED TO D ECIDE THIS APPEAL FILED BY ASSESSEE. THE RELEVANT PORTION OF THE ASSESSMENT ORDER DATED 28/03/2014 IS REPRODUCED AS UNDER :- 4 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 5 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 6 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 7 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) (C) ON MERITS, THE RELEVANT PORTION OF THE AFORES AID IMPUGNED APPELLATE ORDER DATED 03/08/2015 OF THE LD . CIT(A) IS REPRODUCED AS UNDER :- 8 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 9 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 10 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 11 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 12 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 13 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) (D) DURING APPELLATE PROCEEDINGS IN ITAT, WRITT EN SUBMISSION WERE FILED BY LD. CIT(DR), RELEVANT PORT ION OF WHICH IS REPRODUCED AS UNDER : 14 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 15 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 16 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 17 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 18 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 19 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 20 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 21 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) 22 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) (E) AT THE TIME OF HEARING, REVENUE WAS REPRESENTE D BY MS. SWATI JOSHI, COMMISSIONER OF INCOME TAX, DEPARTMENTAL REPRESENTATIVE [LD. CIT(DR), FOR SHO RT]. HOWEVER, NONE WAS PRESENT FROM THE ASSESSEES SIDE. IN THE ABSENCE OF ANY REPRESENTATION FROM ASSESSEES SIDE, AT THE TIME OF HEARING BEFORE US, WE HEARD THE LD. CIT(DR) ; WHO RELIED UPON THE ASSESSMENT ORDER DATED 28/03/2014 O F ASSESSING OFFICER AND THE AFORESAID IMPUGNED APPELL ATE ORDER DATED 03/08/2015 OF THE LD. CIT(A) AND ON THE AFORESAID WRITTEN SUBMISSIONS REFERRED TO IN FOREGO ING PARAGRAPH (D) OF THIS ORDER. AFTER PERUSAL OF THE M ATERIALS ON RECORD ; WE FIND THAT THE LD. CIT(A) HAS PASSED SPE AKING ORDER ON MERITS. RELEVANT PORTION OF THE IMPUGNED O RDER OF THE LD. CIT(A) HAS ALREADY BEEN REPRODUCED IN FOREG OING PARAGRAPH (C) OF THIS ORDER. WE FIND THAT THE LD. C IT(A) HAS GIVEN DETAILED REASONS FOR HIS DECISION ON MERITS I N THE AFORESAID IMPUGNED APPELLATE ORDER DATED 03.08.2015 OF LD. CIT(A). DURING APPELLATE PROCEEDINGS IN INCOME TAX APPELLATE TRIBUNAL (ITAT, FOR SHORT) NO MATERIAL HAS BEEN BROUGHT FOR OUR CONSIDERATION TO PERSUADE US TO TAK E A VIEW DIFFERENT FROM THE VIEW TAKEN BY THE LD. CIT(A) IN THE 23 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) IMPUGNED ORDER, ON MERITS. AFTER HEARING THE LD. CI T-DR, AND AFTER PERUSAL OF MATERIALS ON RECORD, AND FURTH ER, IN VIEW OF THE FOREGOING DISCUSSION, WE DECLINE TO INT ERFERE WITH THE AFORESAID IMPUGNED APPELLATE ORDER DATED 03.08. 2015 OF LD. CIT(A), AND ACCORDINGLY, THIS APPEAL IS DISMISS ED. (F) BEFORE WE PART; WE EXPLICITLY CLARIFY THAT THE ASSESEE WILL BE AT LIBERTY TO APPROACH ITAT FOR RESTORATION OF THE APPEAL IN ACCORDANCE WITH PROVISO TO RULE 24 OF INC OME TAX (APPELLATE TRIBUNAL), RULES, 1963. IF THE ASSESSEE DOES APPROACH ITAT FOR RESTORATION OF THE APPEALS IN ITA T, THE MATTER WILL BE CONSIDERED IN ACCORDANCE WITH LAW HA VING REGARD TO THE FACTS AND CIRCUMSTANCES. (G) IN THE RESULT, APPEAL FILED BY ASSESSEE IS DIS MISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 20/02/20 SD/- SD/- (H.S.SIDHU) (ANADEE N ATH MISSHRA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 20/02/20 *BR* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT TRUE COPY ASSISTANT REGISTRAR 24 ITA NO. 5524/DEL/2015 (JAIPURIA INFRASTRUCTURE DEVELOPMENTS P. LTD.) ITAT NEW DELHI DATE OF DICTATION 18.02.2020 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 19.02.2020 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. PS/PS DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/PS DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT DATE ON WHICH THE FILE GOES TO THE BENCH CLERK DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER