ACIT, New Delhi V. M/s. DLF Commercial Project Corporation, New Delhi

ITA 6773/DEL/2014

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 4338 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 9 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-09-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2011-2012
• Appeal Filed On: 15-12-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES B DELHI BEFORE SH. P.K.BANSAL, VICE PRESIDENT AND SH. AMIT SHUKLA, JUDICIAL MEMBER ITA NO.6773/DEL/2014 (ASSESSMENT YEAR: 20 11-12) APPELLANT BY MS. RACHNA SINGH, CIT DR RESPONDENT BY SH. R.S.SINGHVI, CA DATE OF HEARING 21.09.2017 DATE OF PRONOUNCEMENT 21.09.2017 ORDER PER P.K.BANSAL, VICE PRESIDENT THIS APPEAL FILED BY THE REVENUE AGAINST THE ORDER DATED 29.09.2014 OF THE CIT(A)-XXVI, NEW DELHI RELATING TO ASSESSMENT YEAR 2011-12 BY TAKING THE FOLLOWING EFFECTIVE GROUND OF APPEAL:- (I) THE CIT(A) HAS ERRED IN ALLOWING THE APPEAL OF THE ASSESSEE REGARDING SET OFF OF BROUGHT FORWARD LOSSES FOR THE A.Y. 2008 -09 TO 2010-11, AS THE SUBSTANTIVE ISSUE APPEALS ARE PENDING BEFORE VA RIOUS APPELLATE AUTHORITIES. 2. WE HEARD THE RIVAL SUBMISSIONS AND CAREFULLY CON SIDERED THE SAME. WE NOTED THAT BEFORE THE LD.CIT(A), THE ASSESSEE HAS C LAIMED SETTING OFF OF BROUGHT FORWARD LOSSES FOR THE AY 2008-09 TO 2010-11. LD.C IT(A) AFTER GIVING THE DETAILED ACIT, CIRCLE-52(1), NEW DELHI. VS DLF COMMERCIAL PROJECT CORPORATION, 9 TH FLOOR, DLF CENTRE, SANSAD MARG, NEW DELHI-110001. PAN-AAAFD2181R (APPELLANT) (RESPONDENT) ITA NO.6773/DEL/2014 2 FINDING UNDER PARAS 4 & 5 OF ITS ORDER, HAS GIVEN T HE DIRECTION TO THE AO TO RE- COMPUTE THE INCOME OF THE ASSESSEE OF THE RELEVANT ASSESSMENT YEAR U/S 154 OF THE INCOME TAX ACT, 1961 (IN SHORT ACT) AFTER AL LOWING SET OFF OF BROUGHT FORWARD LOSSES DETERMINED IN CONSEQUENT TO THE APPELLATE OR DER OF THE AY 2008-09 TO 2010- 11 AS PER THE LAW. IN OUR OPINION, THERE IS NO ILL EGALITY OR INFIRMITY IN THE ORDER OF THE LD.CIT(A) WHILE GIVING SUCH DIRECTION INFACT WH ENEVER AN APPELLATE ORDER IS PASSED. THE AO IS BOUND TO PASS A CONSEQUENTIAL OR DER AFTER GIVING THE APPEAL EFFECT AND AFTER GIVING THE APPEAL EFFECT INCASE IT AFFECTS THE SETTING OFF OF BROUGHT FORWARD LOSSES. CONSEQUENTIAL ORDER HAS TO BE PASS ED IN THE SUCCEEDING ASSESSMENT YEAR. WE, THEREFORE, DISMISS THE APPEAL FILED BY THE REVENUE. 3. IN THE RESULT, THE APPEAL FILED BY THE REVENUE S TANDS DISMISSED. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 21 SEPTEMBER, 2017. SD/- SD/- (AMIT SHUKLA) (P.K.BANSAL) JUDICIAL MEMBER VICE PRESIDENT DATE:- 21.09.2017 *AMIT KUMAR* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSI STANT REGISTRAR ITAT, DELHI