Shivani Aggarwal, New Delhi V. ITO, Ward-52(1), New Delhi

ITA 946/DEL/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2885 (ITAT-DELHI)
• Duration Of Justice: 6 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-09-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 07-02-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S L ANURAGI
• Assessee Lawyers: J P CHAWLA
• Keywords: Opportunity of being heard; Avoidance of tax; Set aside
• Section: 68; 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES SMC: DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER ITA.NO.946/DEL./2019 ASSESSMENT YEAR 2009-2010 SMT. SHIVANI AGARWAL, 42, JANPATH, NEW DELHI. PAN AEFOA7698B VS., THE INCOME TAX OFFICER, WARD-52(1), ROOM NO.1603, E-BLOCK, PRATYAKSHKAR BHAWAN, CIVIC CENTRE, J.L. NEHRU MARG, NEW DELHI-110002 (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI J.P. CHAWLA, C.A. FOR REVENUE : SHRI S.L. ANURAGI, SR. D.R. DATE OF HEARING : 19.08.2019 DATE OF PRONOUNCEMENT : 02.09.2019 ORDER PER BHAVNESH SAINI, J.M. THIS APPEAL BY ASSESSEE HAS BEEN DIRECTED AGAINST THE ORDER OF THE LD. CIT(A)-18, NEW DELHI, DATED 11.01.2019, FOR THE A.Y. 2009-2010, CHALLENGING THE REOPENING OF THE ASSESSMENT UNDER SECTION 148 OF TH E I.T. ACT, 1961 AND ADDITION OF RS.7,29,000/- UNDER SECTI ON 68 OF THE I.T. ACT, 1961. 2 ITA.NO.946/DEL./2019 SMT. SHIVANI AGARWAL, NEW DELHI. 2. BRIEFLY THE FACTS OF THE CASE ARE THAT IN THIS CASE INFORMATION AVAILABLE ON RECORD WAS THAT THE ASSESS EE HAS INVESTED SUM OF RS.7,29,000/- AGAINST PURCHASE OF S CRIPS OF ONE PAPER COMPANY M/S BLUEPRINT SECURITIES LTD. ON THE BASIS OF THIS INFORMATION ASSESSMENT WAS REOPENED U NDER SECTION 148 OF THE I.T. ACT. THE A.O. CONSIDERING T HE MATERIAL ON RECORD, WAS OF THE OPINION THAT ASSESSEE HAS ENT ERED INTO COLOURABLE DEVISE FOR AVOIDANCE OF TAX AND THE RECE IPT OF RS.7,29,000/- BY WAY OF CHEQUE IS NOTHING BUT UNEXP LAINED CASH CREDIT UNDER SECTION 68 OF THE I.T. ACT. THE L D. CIT(A) CONFIRMED THE REOPENING OF THE ASSESSMENT AS WELL A S DISMISSED THE APPEAL ON MERITS. 3. LEARNED COUNSEL FOR THE ASSESSEE AT THE OUTSET SUBMITTED THAT THE CASE OF SISTER OF THE ASSESSEE H AS BEEN CONSIDERED BY ITAT, DELHI SMC-BENCH IN THE CASE OF RAAKHI AGARWAL, NEW DELHI VS. ITO, WARD-52(1), NEW DELHI, IN ITA.NO.1170/DEL./2018 FOR THE A.Y. 2009-2010 AND VI DE ORDER DATED 10.06.2019 THE REOPENING OF THE ASSESSM ENT HAVE BEEN CONFIRMED AND THIS GROUND WAS DISMISSED. HOWEVER, AS REGARDS MERIT IS CONCERNED, THE MATTER HAVE 3 ITA.NO.946/DEL./2019 SMT. SHIVANI AGARWAL, NEW DELHI. BEEN RESTORED TO THE FILE OF A.O. FOR RE-DOING THE ASSESSMENT IN ACCORDANCE WITH LAW. COPY OF THE ORDER DATED 10.06.2019 IS PLACED ON RECORD AND PROVIDED TO THE LD. D.R. LEARNED COUNSEL FOR THE ASSESSEE, THEREFORE, SUBMIT TED THAT ISSUE OF REOPENING OF THE ASSESSMENT WILL BE DECIDE D AGAINST THE ASSESSEE AS PER THE ABOVE ORDER. HOWEVER, THE I SSUE ON MERIT MAY BE RESTORED TO THE FILE OF A.O. AS IS DON E IN THE CONNECTED CASE OF RAAKHI AGARWAL (SUPRA). 4. THE LD. D.R. ALSO SUGGESTED THAT SINCE IDENTICA L FACTS HAVE BEEN CONSIDERED IN THE CASE OF SISTER OF THE ASSESSEE RAAKHI AGARWAL (SUPRA), THEREFORE, ISSUE O N MERIT MAY BE REMANDED TO THE FILE OF A.O. FOR RECONSIDERA TION. 5. IN VIEW OF THE ABOVE FACTS, IT IS CLEAR THAT TH E CASE OF THE ASSESSEE AND HER SISTER RAAKHI AGARWAL (SUPR A) HAVE BEEN CONSIDERED BY THE AUTHORITIES BELOW ON THE SAM E ISSUE IN RESPECT OF PURCHASE OF SHARES OF M/S BLUEPRINT S ECURITIES LTD. IN THE CASE OF RAAKHI AGARWAL (SUPRA) SISTER O F THE ASSESSEE, THE TRIBUNAL HAS CONFIRMED THE REOPENING OF THE ASSESSMENT AND THIS GROUND WAS DISMISSED. LEARNED 4 ITA.NO.946/DEL./2019 SMT. SHIVANI AGARWAL, NEW DELHI. COUNSEL FOR THE ASSESSEE SUGGESTED THAT THIS GROUND OF APPEAL OF ASSESSEE MAY BE DISMISSED. 6. FOLLOWING THE REASONS FOR DECISION ON IDENTICAL FACTS IN THE CASE OF RAAKHI AGARWAL (SUPRA), I DISM ISS THE ISSUE OF REOPENING OF THE ASSESSMENT IN THE MATTER. HOWEVER, THE TRIBUNAL IN THE SAME ORDER DATED 10.06 .2019 RESTORED THE ISSUE ON MERIT TO THE FILE OF A.O. FOR RECONSIDERATION. FOLLOWING THE ORDER OF THE TRIBUNA L DATED 10.06.2019, I SET ASIDE THE ORDERS OF THE AUTHORITI ES BELOW AND RESTORE THE ISSUE ON MERIT TO THE FILE OF A.O. WITH A DIRECTION TO RE-DECIDE THE SAME AS PER LAW AS IS DI RECTED IN THE CASE OF RAAKHI AGARWAL (SUPRA). THE A.O. SHALL GIVE REASONABLE, SUFFICIENT OPPORTUNITY OF BEING HEARD T O THE ASSESSEE. 7. IN THE RESULT, APPEAL OF ASSESSEE ALLOWED FOR STATISTICAL PURPOSES. 5 ITA.NO.946/DEL./2019 SMT. SHIVANI AGARWAL, NEW DELHI. ORDER PRONOUNCED IN THE OPEN COURT. SD/- (BHAVNESH SAINI) JUDICIAL MEMBER DELHI, DATED 2 ND SEPTEMBER, 2019 VBP/- COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT SMC BENCH 6. GUARD FILE //BY ORDER// ASST. REGISTRAR : ITAT : DELHI BENCHES : DELHI. DATE OF DICTATION 19.08.2019 DATE ON WHICH THE TYPED DRAFT ORDER IS PLACED BEFOR E THE DICTATION MEMBER 20.08.2019 DATE ON WHICH THE APPROVAL DRAFT COMES TO THE SR. P S 02.09.2019 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATION MEMBER FOR PRONOUNCEMENT 02.09.2019 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. P.S. 02.09.2019 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT 02.09.2019 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 03. 09.2019 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.