S M Pilfer Proof Caps Pvt. Ltd.(Bright Realcon Pvt Ltd merged vide order of NCLT), Bijnor V. ACIT, (OSD), Ward-5(2), New Delhi

ITA 570/DEL/2020

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 6613 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 7 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-09-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 30-01-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Unexplained expenditure; Principle of natural justice
• Section: 147; 68

Judgement Text

ITA NO.-570/DEL/2020 S M PILFER PROOF CAPS PVT. LTD. PAGE 1 OF 4 THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH: SMC: NEW DELHI) (THROUGH VIDEO CONFERENCING) BEFORE SMT. DIVA SINGH, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA NO:- 570/DEL/2020 ( ASSESSMENT YEAR: 2011-12) S M PILFER PROOF CAPS PVT. LTD. (BRIGHT REALCON PVT. LTD. MERGED VIDE ORDER OF NCLT) VS. ACIT (OSD) WARD 5(2), DELHI APPELLANT RESPONDENT PAN NO: AAHCS9330H ASSESSEE BY : NONE REVENUE BY : SHRI R.K. GUPTA, SR. DR PER ANADEE NATH MISSHRA, AM (A) THIS APPEAL BY ASSESSEE IS FILED AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEAL)-2, NEW DELHI, DATED 29.11.2019 FOR ASSESSMENT YEAR 2011-12. GROUNDS TAKEN IN THIS APPEAL OF ASSESSEE ARE AS UNDER: 1. THAT BOTH THE LOWER AUTHORITIES WERE NOT JUSTIFIED IN MAKING AND CONFIRMING THE RE-ASSESSMENT ORDER U/S 147 SINCE THE SAME WAS NOT IN ACCORDANCE WITH THE PROVISIONS OF THE INCOME TAX ACT, 1961 AND IS ILLEGAL ON ACCOUNT OF VARIOUS REASONS. 2. THAT UNDER THE FACTS AND CIRCUMSTANCES OF THE CASE, THE REASSESSMENT ORDER PASSED WITHOUT FOLLOWING THE LAW OF LAND DECLARED BY HONBLE ITA NO.-570/DEL/2020 S M PILFER PROOF CAPS PVT. LTD. PAGE 2 OF 4 SUPREME COURT OF INDIA IN CASE OF GKN DRIVESHAFT IS INVALID AND DESERVES TO BE QUASHED. 3. THAT THE LD. CIT (APPEALS) HAD NOT CONSIDERED THE REPLIES FILED BY ASSESSEE AND PASSED THE EX PARTE ORDER AGAINST THE PRINCIPALS OF NATURAL JUSTICE. 4. THAT UNDER THE FACTS AND CIRCUMSTANCES OF THE CASE, AN ADDITION OF RS. 40,00,000/- MADE BY THE LD. AO U/S 68 DESERVES TO BE QUASHED 5. THAT UNDER THE FACTS AND CIRCUMSTANCES OF THE CASE, AN ADDITION OF RS. 80,000/- MADE BY THE LD. AO AS UNEXPLAINED EXPENDITURE DESERVES TO BE QUASHED. 6. THAT THE APPELLANT CRAVES LEAVE TO ADD, AMEND, ALTER OR WITHDRAW ANY GROUND OF APPEAL AT THE TIME OF HEARING WITH THE PERMISSION OF THE HONBLE ITAT, DELHI BENCH. (B) AT THE TIME OF HEARING, WE TOOK NOTICE OF LETTERS DATED 23/06/2021 AND 01/04/2021 SENT BY SRI SIVA SANKARAN, DIRECTOR OF THE ASSESSEE COMPANY. IN THESE LETTERS, IT HAS BEEN INTIMATED THAT THE ASSESSEE WISHES TO WITHDRAW THE APPEAL IN VIEW OF THE FACT THAT THE APPELLANT (I.E. THE ASSESSEE) HAS OPTED FOR RESOLUTION OF THE MATTER UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2021 (VSVS, FOR SHORT). IN VIEW OF THIS, THE LEARNED SENIOR DEPARTMENTAL REPRESENTATIVE (LD. SR. DR, FOR SHORT) SUBMITTED BEFORE US THAT THIS APPEAL MAY BE TREATED AS WITHDRAWN AND MAY BE DISMISSED ON ACCOUNT OF THE AFORESAID VSVS. AFTER DUE CONSIDERATION, AND IN VIEW OF THE FOREGOING; WE TREAT THIS APPEAL AS WITHDRAWN ON ACCOUNT OF THE AFORESAID VSVS. ACCORDINGLY, THIS APPEAL IS DISMISSED, AS WITHDRAWN. (B.1) BEFORE WE PART, WE HEREBY CLARIFY, BY WAY OF ABUNDANT CAUTION, THAT IF FOR SOME REASON IT IS FOUND BY THE ASSESSEE THAT THE DISPUTES UNDER THIS APPEAL BEFORE US ARE NOT FULLY SETTLED UNDER THE AFORESAID VSVS, THEN ASSESSEE WILL BE ITA NO.-570/DEL/2020 S M PILFER PROOF CAPS PVT. LTD. PAGE 3 OF 4 AT LIBERTY TO APPROACH ITAT FOR RESTORATION OF THIS APPEAL, IN ACCORDANCE WITH LAW. (C) IN THE RESULT, THIS APPEAL IS DISMISSED. THIS ORDER WAS ORALLY PRONOUNCED ON 8TH SEPTEMBER, 2021 IN OPEN COURT, IN THE PRESENCE OF SR. DR FOR THE REVENUE, AFTER CONCLUSION OF THE HEARING. NOW THIS ORDER IN WRITING IS SIGNED TODAY ON 09/09/21 . SD/- SD/- (DIVA SINGH) (ANADEE NATH MISSHRA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 09/09/21 (BINITA) COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI ITA NO.-570/DEL/2020 S M PILFER PROOF CAPS PVT. LTD. PAGE 4 OF 4 DATE OF DICTATION DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 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