ACIT, New Delhi V. M/s Pradeep Sons Pvt. Ltd., New Delhi

ITA 680/DEL/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 6939 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 11 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-01-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2007-2008
• Appeal Filed On: 06-02-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUSHMA SINGH
• Section: 153A

Judgement Text

ITA NO.-680/DEL/2017. PRADEEP SONS PVT. LTD. PAGE 1 OF 4 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH: F: NEW DELHI) (THROUGH VIDEO CONFERENCING) BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA NO:- 680/DEL/2017 ( ASSESSMENT YEAR: 2007-08) ACIT, CENTRAL CIRCLE-27, ROOM NO. 327, 3 RD FLOOR, ARA CENTRE, E-2, JHANDEWALAN EXTN., NEW DELHI. VS. M/S PRADEEP SONS PVT. LTD., 6, TODARMAL LANE, GROUND FLOOR NEAR BENGALI MARKET, NEW DELHI. APPELLANT RESPONDENT PAN NO: AAACP5431H REVENUE BY : SMT. SUSHMA SINGH, 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)-29, NEW DELHI, [LD. CIT(A), FOR SHORT], DATED 30.11.2016 FOR ASSESSMENT YEAR 2007-08. GROUNDS TAKEN IN THIS APP EAL OF REVENUE ARE AS UNDER: 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE, THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN DELETING THE ADDITION OF RS. 3,00,00,000/- MADE U/S 68 OF THE I.T. ACT ON ACCOUNT OF UNEXPLAINED CA SH CREDITS. 2. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E, THE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS BY REPLYING ON THE DECISI ON IN THE CASE OF SH. KABUL ITA NO.-680/DEL/2017. PRADEEP SONS PVT. LTD. PAGE 2 OF 4 CHAWLA BY THE JURISDICTIONAL HIGH COURT WHICH HAS N OT BEEN ACCEPTED BY THE DEPARTMENTAL AND SLP AGAINST THE SAME HAS BEEN FILE D BEFORE HONBLE SUPREME COURT. 3. ON THE FACTS AND IN CIRCUMSTANCES OF THE CASE, T HE LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN ADOPTING A RESTRICTIVE AND PEDA NTIC INTERPRETATION OF THE SCOPE OF ASSESSMENT U/S 153A OF THE ACT. 4. THAT THE ORDER OF THE CIT(A) IS PERVERSE, ERRONE OUS AND IS NOT TENABLE ON FACTS AND IN LAW. 5. THAT THE GROUNDS OF APPEAL ARE WITHOUT PREJUDIC E TO EACH OTHER. 6. THAT THE APPELLANT CRAVES LEAVE TO ADD, AMEND, A LTER OR FOREGO ANY GROUND(S) OF APPEAL EITHER BEFORE OR AT THE TIME OF HEARING OF THE APPEAL. (B) AT THE TIME OF HEARING, AT THE OUTSET, THE LD. COU NSEL THE ASSESSEE INFORMED US THAT THE ASSESSEE HAS OPTED FOR VIVAD SE VISHWAS SCHEME, 2020 (VSVS, FOR SHORT) FOR THE SETTLEMENT OF SUBJECT MATTER OF THE DISPUTES IN THI S APPEAL. HE DREW OUR ATTENTION TO EMAIL DATED JANUARY 25 TH , 2021 SENT FROM ASSESSEES SIDE IN INCOME TAX APPE LLATE TRIBUNAL (ITAT, FOR SHORT) GIVING INTIMATION OF THE SAME. AT THE TIME OF HEARING BEFORE US, THE LD. COUNSEL FOR ASSESSEE SUBMITTED BEFORE US THAT THIS APPEAL MAY BE DISMISSED ON ACCOUNT OF THE AFORESAID VSVS. THE LEARNED COMMISSIONER OF INC OME TAX (DEPARTMENTAL REPRESENTATIVE) [LD. CIT(DR), FOR SHORT] DID NOT EXPRESS ANY OBJECTION TO THIS. AFTER DUE CONSIDERATION, AND IN VIEW OF THE FOREGOING; WE ARE OF THE OPINION THAT THIS APPEAL HAS BECOME INFRUCTUOUS ON ACCOUNT OF AFORESAID VSVS, AN D THAT THIS APPEAL MAY BE TREATED AS WITHDRAWN BY REVENUE ON ACCOUNT OF THE AFORESAID VS VS. ACCORDINGLY, THE APPEAL HAVING BECOME INFRUCTUOUS, IS TREATED AS WITHDRAWN AND, IS HEREBY DISMISSED. ITA NO.-680/DEL/2017. PRADEEP SONS PVT. LTD. PAGE 3 OF 4 (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. (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 27 TH JANUARY, 2021 IN OPEN COURT, IN THE PRESENCE OF REPRESENTATIVES OF BOTH SIDES; AFTER CO NCLUSION OF THE HEARING. SD/- SD/- (KUL BHARAT) (ANADEE NATH M ISSHRA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 27/01/2021 (POOJA) COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI ITA NO.-680/DEL/2017. PRADEEP SONS 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