Airads Ltd., New Delhi V. DCIT Circle-2(1), New Delhi

ITA 6651/DEL/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 1760 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 3 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 09-08-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHIV SWAROOP SINGH SENIOR
• Assessee Lawyers: SOUMYA JAIN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI DELHI DELHI BENCH BENCH BENCH BENCH A AA A : NEW DELHI : NEW DELHI : NEW DELHI : NEW DELHI (THROUGH VIDEO CONFERENCING) (THROUGH VIDEO CONFERENCING) (THROUGH VIDEO CONFERENCING) (THROUGH VIDEO CONFERENCING) BEFORE SHRI G.S. PANNU BEFORE SHRI G.S. PANNU BEFORE SHRI G.S. PANNU BEFORE SHRI G.S. PANNU, ,, , VICE PRESIDENT AND VICE PRESIDENT AND VICE PRESIDENT AND VICE PRESIDENT AND SHRI AMIT SHUKLA SHRI AMIT SHUKLA SHRI AMIT SHUKLA SHRI AMIT SHUKLA, JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA NO. ITA NO. ITA NO. ITA NO. 5354 5354 5354 5354 /DEL/20 /DEL/20 /DEL/20 /DEL/20 1 11 1 6 66 6 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR : : : : 20 2020 20 07 0707 07 - -- - 08 0808 08 ASST. COMMISSIONER OF ASST. COMMISSIONER OF ASST. COMMISSIONER OF ASST. COMMISSIONER OF INCOME T INCOME T INCOME T INCOME TAX, CIRCLE AX, CIRCLE AX, CIRCLE AX, CIRCLE- -- -2(1), 2(1), 2(1), 2(1), NEW DELHI NEW DELHI NEW DELHI NEW DELHI VS. VS. VS. VS. M/S AIRADS LTD., M/S AIRADS LTD., M/S AIRADS LTD., M/S AIRADS LTD., A AA A- -- -4624/18, ANSARI ROAD, 4624/18, ANSARI ROAD, 4624/18, ANSARI ROAD, 4624/18, ANSARI ROAD, DARYA GANJ, NEW DELHI DARYA GANJ, NEW DELHI DARYA GANJ, NEW DELHI DARYA GANJ, NEW DELHI PAN PAN PAN PAN- -- -AAACA5793R AAACA5793R AAACA5793R AAACA5793R (APPELLANT) (RESPONDENT) CROSS OBJECTION CROSS OBJECTION CROSS OBJECTION CROSS OBJECTION NO. NO. NO. NO. 124/DEL/2017 124/DEL/2017 124/DEL/2017 124/DEL/2017 (IN ITA NO.5354/DEL/2016) (IN ITA NO.5354/DEL/2016) (IN ITA NO.5354/DEL/2016) (IN ITA NO.5354/DEL/2016) ASSESSMENT YEAR : ASSESSMENT YEAR : ASSESSMENT YEAR : ASSESSMENT YEAR : 2007 2007 2007 2007 - -- - 08 0808 08 M/S AIRADS L M/S AIRADS L M/S AIRADS L M/S AIRADS L TD., TD., TD., TD., A AA A- -- -4624/18, ANSARI ROAD, 4624/18, ANSARI ROAD, 4624/18, ANSARI ROAD, 4624/18, ANSARI ROAD, DARYA GANJ, NEW DELHI DARYA GANJ, NEW DELHI DARYA GANJ, NEW DELHI DARYA GANJ, NEW DELHI PAN PAN PAN PAN- -- -AAACA5793R AAACA5793R AAACA5793R AAACA5793R VS. VS. VS. VS. ASST. COMMISSIONER OF INCOME TAX, ASST. COMMISSIONER OF INCOME TAX, ASST. COMMISSIONER OF INCOME TAX, ASST. COMMISSIONER OF INCOME TAX, CIRCLE CIRCLE CIRCLE CIRCLE- -- -2(1), 2(1), 2(1), 2(1), NEW DELHI NEW DELHI NEW DELHI NEW DELHI (APPELLANT) (RESPONDENT) ITA NO. ITA NO. ITA NO. ITA NO. 6651 6651 6651 6651 /DEL/201 /DEL/201 /DEL/201 /DEL/201 9 99 9 ASSESSMENT YEAR : ASSESSMENT YEAR : ASSESSMENT YEAR : ASSESSMENT YEAR : 2007 2007 2007 2007 - -- - 08 0808 08 M/S AIRADS LTD., M/S AIRADS LTD., M/S AIRADS LTD., M/S AIRADS LTD., A AA A- -- -4624/18, ANS 4624/18, ANS 4624/18, ANS 4624/18, ANSARI ROAD, ARI ROAD, ARI ROAD, ARI ROAD, DARYA GANJ, NEW DELHI DARYA GANJ, NEW DELHI DARYA GANJ, NEW DELHI DARYA GANJ, NEW DELHI PAN PAN PAN PAN- -- -AAACA5793R AAACA5793R AAACA5793R AAACA5793R VS. VS. VS. VS. DCIT, CIRCLE DCIT, CIRCLE DCIT, CIRCLE DCIT, CIRCLE - -- - 2(1), 2(1), 2(1), 2(1), NEW DELHI NEW DELHI NEW DELHI NEW DELHI (APPELLANT) (RESPONDENT) ASSESSEE BY : MS. SOUMYA JAIN, CA. REVENUE BY : SHRI SHIV SWAROOP SINGH, SENIOR DR. DATE OF HEARING : 07.12 07.12 07.12 07.12.2020 .2020 .2020 .2020 DATE OF PRONOUNCEMENT : 07.12.2020 07.12.2020 07.12.2020 07.12.2020 ORDER ORDER ORDER ORDER ITA-5354/DEL/2016 ITA-6651/DEL/2019 C.O. NO.124/DEL/2017 2 PER G.S. PANNU PER G.S. PANNU PER G.S. PANNU PER G.S. PANNU, , , , VP VPVP VP : :: : THE CROSS-APPEALS BY THE REVENUE AND THE ASSESSEE AND THE CROSS-OBJECTION BY THE ASSESSEE FOR THE ASSESSMENT YEAR 2007-08 ARE DIRECTED AGAINST THE ORDER OF LEARNED CIT(A), NEW D ELHI DATED 18.07.2016 & 25.06.2019 RESPECTIVELY. 2. THE LEARNED COUNSEL FOR THE ASSESSEE, VIDE ITS L ETTER DATED 02.12.2020, RECEIVED THROUGH EMAIL, HAS REQUESTED F OR WITHDRAWAL OF THE APPEAL AS WELL AS THE CROSS-OBJECTION FILED BY THE ASSESSEE AND STATED THAT THE ASSESSEE HAS OPTED TO SETTLE THE DI SPUTE RELATING TO THE TAX ARREARS FOR THE ASSESSMENT YEAR UNDER CONSIDERA TION UNDER THE VIVAD SE VISHWAS SCHEME, 2020. 3. LEARNED SENIOR DR HAS NO OBJECTION. 4. IN VIEW OF THE ABOVE, WE ACCEPT THE REQUEST OF T HE ASSESSEE FOR WITHDRAWAL OF THE APPEAL AS WELL AS THE CROSS-OBJEC TION. ACCORDINGLY, THE APPEAL OF THE REVENUE IN ITA NO.5354/DEL/2016 A ND THE CROSS- OBJECTION OF THE ASSESSEE IN C.O. NO.124/DEL/2017 A RE DISMISSED AS INFRUCTUOUS. 5. FURTHER, THE DISPUTE IN THE APPEAL OF THE ASSESS EE IN ITA NO.6651/DEL/2019 HAS ALSO BEEN SETTLED IN THE VIVAD SE VISHWAS SCHEME, 2020. ACCORDINGLY, THE SAME IS ALSO DISMIS SED AS WITHDRAWN. 6. IN THE RESULT, THE CROSS-APPEALS OF THE ASSESSEE AND THE REVENUE AND THE CROSS-OBJECTION OF THE ASSESSEE ARE DISMISS ED. ABOVE DECISION WAS ANNOUNCED ON CONCLUSION OF VIRT UAL HEARING IN THE PRESENCE OF BOTH THE PARTIES ON 07 TH DECEMBER, 2020. SD/- SD/- ( (( ( AMIT SHUKLA AMIT SHUKLA AMIT SHUKLA AMIT SHUKLA ) )) ) (G.S. PANNU (G.S. PANNU (G.S. PANNU (G.S. PANNU ) )) ) JUDICIAL JUDICIAL JUDICIAL JUDICIAL MEMBER MEMBER MEMBER MEMBER VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT SH ITA-5354/DEL/2016 ITA-6651/DEL/2019 C.O. NO.124/DEL/2017 3 COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT BY ORDER ASSISTANT REGISTRAR