ITO, New Delhi V. Sh. Ajay Gupta, Delhi

ITA 6169/DEL/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 3409 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 8 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-08-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 02-12-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANCHAL KHANDELWAL
• Assessee Lawyers: AJAY GUPTA
• Section: 244A; 234B; 54

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: A, NEW DELHI BEFORE SHRI RAJ PAL YADAV, JUDICIAL MEMBER & SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER ITA NO.- 6169/DEL/2016 ( ASSESSMENT YEAR: 2013-14) INCOME TAX OFFICER, WARD 49(3), NEW DELHI. VS. SH. AJAY GUPTA, EB-54, MAYA ENCLAVE DELHI- 110064. PAN NO: AADPG8633L APPELLANT RESPONDENT REVENUE BY : SMT. ANCHAL KHANDELWAL, SR. DR ASSESSEE BY : SH. K.V.S.R. KRISHNA, CA & SH. AJAY GUPTA, ADV. DATE OF HEARING : 23.08.2018. DATE OF PRONOUNCEMENT : 24/08/2018. ORDER PER: N.K. BILLAIYA, AM THIS APPEAL BY THE REVENUE IS PREFERRED AGAINST THE ORDER OF THE LD. CIT(A)-17, NEW DELHI, DATED 05.10.2016 PERTAINING TO THE A.Y. 2013-14. THE GRIEVANCES OF THE REVENUE ARE AS UNDER:- 2 ITA NO.-6169/DEL/2016. SH. AJAY GUPTA, DELHI. 1. THE LD. CIT(A) HAS ERRED IN LAW AND FACTS IN N OT CONSIDERING THE AOS REMARKS GIVEN IN REMAND REPORT WHILE DELETING THE A DDITION OF RS. 57,43,013/- OUT OF ADDITION OF DISALLOWANCE OF INVE STMENT U/S 54 OF THE ACT. 2. THE LD. CIT(A) HAS ERRED IN LAW AND FACTS IN DELETING THE DISALLOWANCE OF RS. 3,41,212/- MADE BY THE AO ON ACCOUNT OF DISALLO WANCE OF INDEXED COST OF IMPROVEMENT. 3. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN CONSIDERING THE ADDITIONAL SUBMISSION OF THE ASSESSEE IN SPITE OF OBJECTION RA ISED BY THE AO DURING REMAND PROCEEDINGS. 4. THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN NOT CONSIDERING THAT THE ASSESSEE DOES NOT COVER UNDER THE BOARDS CIRCULAR NO. 672 DATED 16/12/1993 AS THE ASSESSEE HAS NOT PURCHASED THE FL AT FROM AND INSTITUTIONS. IN FACT, THE ASSESSEE HAS PURCHASED THE FLAT FROM RESALE MARKET FROM AN INDIVIDUAL. 2. AS PER THE TAX CALCULATION SHEET, WHICH READ AS UNDER:- TAX CALCULATION 1. GROSS TAX 18,96,139 2. REBATE 3. SURCHARGE 4. EDUCATION CESS 56,884 5. TAX CREDIT U/S 115JAA/115JD 6. RELIEF U/S 89(1)/U/S 90/ U/S 91 7. NET TAX 19,53,023 8. INTEREST U/S 234A 8A. DELAY PERIOD 9. INTEREST U/S 234B 6,33,454 10. INTEREST U/S 234C 11. GROSS DEMAND 25,86,477 TAXES PAYMENT DETAILS 1. TDS/TCS 89,913 2. ADVANCE TAX 0 3. SELF ASSESSMENT TAX 3,380 4. REGULAR ASSESSMENT TAX 3,380 3 ITA NO.-6169/DEL/2016. SH. AJAY GUPTA, DELHI. 5. AMOUNT ALREADY REFUNDED 0 6. TOTAL TAX PAID 93,293 DIVIDEND DISTRIBUTION TAX DETAILS 1. ADDITIONAL INCOME TAX AND INTEREST PAYABLE ON DISTR IBUTED PROFITS 0 2. ADDITIONAL INCOME TAX AND INTEREST PAID 0 FINAL DETAILS 1. TOTAL TAX AND INTEREST PAYABLE 2493184 2. INTEREST NU/S 244A 0 3. INTEREST MADE U/S 244A RECOVERED 4. DELAY PERIOD ATTRIBUTABLE TO ASSESSEE 5. INTEREST U/S 234D 6. INTEREST U/S 220 3. A PERUSAL OF THE ABOVE SHOWS THAT THE TAX INCLUDIN G SURCHARGE IS LESS THAN RS. 20 LACS AND THEREFORE, THIS APPEAL BY THE REVEN UE IS DISMISSED, IN THE LIGHT OF THE CBDT CIRCULAR NO 3 OF 2018 DATED 11/07/2018. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. ORDER PRONOUNCED IN THE OPEN COURT ON 24/8/2018 SD/- SD/- (RAJPAL YADAV) (N.K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 24.08.2018 POOJA/- COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 4 ITA NO.-6169/DEL/2016. SH. AJAY GUPTA, DELHI. 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI DATE OF DICTATION 23/8/2018 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 24/8/2018 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 24 .8.2018 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/PS 24.8.2018 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 5 ITA NO.-6169/DEL/2016. SH. AJAY GUPTA, DELHI.