ACIT, Central Circle-30, New Delhi V. Clitoria Vanijya Pvt. Ltd., Delhi

ITA 5788/DEL/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 9603 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-01-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 11-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NIDHI SRIVASTAVA
• Section: 271(1)(c); 274

Judgement Text

ITA- 5788/DEL/2017 CLITORIA VANIJYA PVT. LTD. PAGE 1 OF 4 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH: B: NEW DELHI) (THROUGH VIDEO CONFERENCING) BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA NO:- 5788/DEL/2017 ( ASSESSMENT YEAR: 2008-09) ACIT, CENTRAL CIRCLE-30, NEW DELHI. VS. CLITORIA VANIJYA PVT. LTD., DELHI. APPELLANT RESPONDENT PAN NO: AADCC0223D REVENUE BY : MS. NIDHI SRIVASTAVA, CIT(DR) ASSESSEE BY : SHRI DIVYANSH JAIN, ADV. PER ANADEE NATH MISSHRA, AM (A) THIS APPEAL BY REVENUE IS FILED AGAINST THE ORDER OF LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-30, NEW DELHI, [LD. CIT(A), FOR SHORT], DATED 22.06.2017 FOR ASSESSMENT YEAR 2008-09. GROUNDS TAKEN IN THIS APP EAL OF REVENUE ARE AS UNDER: 1. THE LD. CIT(A) HAS ERRED IN LAW IN DELETING THE ADDITIONS WITHOUT CONSIDERING THE FACT THAT NOTICES WERE ISSUED AND S ERVED ON THE ADDRESS AS PER RETURN OF INCOME AND RECORD AVAILABLE WITH ASSE SSING OFFICER. THE ASSESSEE DID NOT GIVE ANY INTIMATION REGARDING CHAN GE OF ADDRESS DURING ANY OF THE ASSESSMENT PROCEEDINGS. 2. THE LD. CIT(A) HAS ERRED IN DELETING THE PENALTY OF RS. 1,42,11,280/- IMPOSED BY THE AO U/S 271(1)(C) OF THE ACT RWS 274 OF THE ACT ON ACCOUNT OF FURNISHING INACCURATE PARTICULARS RESULTING IN C ONCEALMENT OF INCOME TO THE EXTENT OF RS. 4,18,10,000/-. ITA- 5788/DEL/2017 CLITORIA VANIJYA PVT. LTD. PAGE 2 OF 4 3. THE LD. CIT(A) HAS ERRED BOTH IN LAW AND FACT IN DELETING THE PENALTY OF RS. 1,42,11,280/- U/S 271(1)(C) OF THE I.T. ACT, 19 61 IMPOSED BY THE AO WHEN THE APPELLANT DID NOT DISCHARGE ITS ONUS OF PR OVING THE IDENTITY, CREDITWORTHINESS OF THE INVESTORS AND GENUINESNESS OF THE TRANSACTIONS DURING THE COURSE OF ASSESSMENT PROCEEDINGS. 4. THAT THE GROUNDS OF APPEAL ARE WITHOUT PREJUDICE TO EACH OTHER. 5. THAT THE APPELLANT CRAVES LEAVE TO ADD, AMEND, A LTER OR FORGO ANY GROUND(S) OF APPEAL EITHER BEFORE OR AT TIME HEARIN G OF THE APPEAL. (B) AT THE TIME OF HEARING, AT THE OUTSET, THE LD. COU NSEL FOR THE ASSESSEE INFORMED US THAT THE ASSESSEE HAS OPTED FOR VIVAD SE VISHWAS SC HEME, 2020 (VSVS, FOR SHORT) FOR THE SETTLEMENT OF SUBJECT MATTER OF THE DISPUTES IN THIS APPEAL. HE DREW OUR ATTENTION TO EMAIL DATED JANUARY 04, 2021 SENT FROM ASSESSEES SI DE IN INCOME TAX APPELLATE TRIBUNAL (ITAT, FOR SHORT) GIVING INTIMATION OF THE SAME, WHEREIN COPY OF FORM 3 ISSUED BY REVENUE IN RESPECT OF AFORESAID VSVS WAS ALSO ATTAC HED; IMPLYING ACCEPTANCE OF VSVS DECLARATION OF ASSESSEE BY REVENUE. AT THE TIME O F HEARING BEFORE US, THE LD. COUNSEL FOR ASSESSEE SUBMITTED BEFORE US THAT THIS APPEAL MAY B E DISMISSED ON ACCOUNT OF THE AFORESAID VSVS. THE LEARNED COMMISSIONER OF INCOME TAX (DEPARTMENTAL REPRESENTATIVE) [LD. CIT(DR), FOR SHORT] DID NOT EXPRESS ANY OBJE CTION TO THIS. AFTER DUE CONSIDERATION, AND IN VIEW OF THE FOREGOING; WE TREAT THIS APPEAL AS WITHDRAWN BY REVENUE ON ACCOUNT OF THE AFORESAID VSVS. ACCORDINGLY, THE APPEAL IS DI SMISSED BEING TREATED AS WITHDRAWN. (B.1) BEFORE WE PART, WE HEREBY CLARIFY, BY WAY OF ABUNDA NT CAUTION, THAT IF FOR SOME REASON IT IS FOUND BY REVENUE THAT THE DISPUTE S UNDER THIS APPEAL BEFORE US ARE NOT FULLY SETTLED UNDER THE AFORESAID VSVS, THEN REVENUE WILL BE AT LIBERTY TO APPROACH ITAT FOR RESTORATION OF THIS AP PEAL, IN ACCORDANCE WITH LAW. ITA- 5788/DEL/2017 CLITORIA VANIJYA PVT. LTD. PAGE 3 OF 4 (B.2) WITH THESE DIRECTIONS, THE AFORESAID APPEAL OF REV ENUE IS DISMISSED, BEING TREATED AS WITHDRAWN. (C) FOR STATISTICAL PURPOSES, THIS APPEAL IS DISMISSED. THIS ORDER WAS ALREADY PRONOUNCED ON 05 TH JANUARY, 2021 IN OPEN COURT, IN THE PRESENCE OF REPRESENTATIVES OF BOTH SIDES; AFTER CO NCLUSION OF THE HEARING. SD/- SD/- (H.S. SIDHU) (ANADEE NATH MISSHRA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 05/01/2021 (POOJA) COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI ITA- 5788/DEL/2017 CLITORIA VANIJYA 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