JAYPEE INFRATECH LIMITED,GAUTAM BUDH NAGAR V. PCIT, NOIDA

ITA 2642/DEL/2024

AI Insights

The case involves Jaypee Infratech Limited appealing against the orders of the Principal Commissioner of Income Tax, Noida, for the assessment years 2014-15 and 2016-17. The appeals were related to the revision jurisdiction under section 263 of the Income-tax Act, 1961, concerning the taxation of a revenue subsidy in the form of land. The PCIT had directed the Assessing Officer to reassess based on the directions from the CIT(A) for the assessment year 2012-13, which was under dispute in a civil appeal at the Supreme Court. The tribunal decided to adjourn the current appeals, restoring them to the PCIT, pending the Supreme Court's decision on the 2012-13 assessments.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 717762 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 2 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-08-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2016-2017
• Appeal Filed On: 24-05-2024
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DAYAINDER SINGH SIDHU
• Assessee Lawyers: PARVEEN KUMAR
• Section: 263

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘C’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI AVDHESH KUMAR MISHRA, ACCOUNTANT MEMBER ITA Nos.2641 & 2642/Del/2024 Assessment Years: 2014-15 & 2016-17 Jaypee Infratech Limited, Sector-128, Noida, Distt. Gautam Budh Nagar, Uttar Pradesh Vs. PCIT, Noida PAN: AABCJ9042R (Appellant) (Respondent) ORDER PER SATBEER SINGH GODARA, JM These assessee’s twin appeals ITA Nos. 2641 & 2642/Del/2024; in assessment years 2014-15 and 2016-17, arise against the Principal Commissioner of Income Tax [in short, the “PCIT”], Noida’s as many orders, both dated 26.03.2024 having DIN and order nos. ITBA/REV/F/REV5/2023-24/1063387563(1) and ITBA/REV/F/REV5/2023-24/1063388705(1) involving Assessee by Sh. Parveen Kumar, Adv. Department by Sh. Dayainder Singh Sidhu, CIT(DR) Date of hearing 29.07.2025 Date of pronouncement 13.08.2025 Printed from counselvise.com ITA No.2641 & 2642/Del/2024 2 | P a g e proceedings under section 263 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’), respectively. Heard both the parties. Case files perused. 2. We note at the outset that there is hardly much a need for us to delve into the relevant factual matrix at length, so far as correctness of learned PCIT’s impugned identical action of revision jurisdiction in the twin assessment years 2014-15 and 2016-17 terming the Assessing Officer’s as many assessments dated 30th March, 2022; as erroneous one causing prejudice to the interest of the Revenue, is concerned. This is for the precise reason that he has relied upon the CIT(A) directions in the assessee’s case in the preceding assessment year 2012-13 inter alia taxing revenue subsidy in the form of chunk of land admeasuring 6250 acres, as taxable in exercise of section 251(1A) enhancement jurisdiction. We make it clear that the CIT(A) had passed the above enhancement order dated 31st March, 2017 in the said preceding assessment years in the assessee’s case. This is what has formed the basis for the learned PCIT herein to direct the Assessing Officer to proceed afresh in the assessee’s Printed from counselvise.com ITA No.2641 & 2642/Del/2024 3 | P a g e case in both these succeeding assessment years as per the CIT(A)’s directions. 3. We next note with the able assistance coming from both the parties that the assessee has filed ITA No. 3616/Del/2017 challenging correctness of the CIT(A)’s foregoing enhancement exercise in assessment year 2012-13. And that the same stands adjourned “sine die” as the tribunal’s registry has sent the entire case records to hon’ble apex court wherein the proceeding qua the very issue are stated to be pending in the Civil Appeal No. 7412/2023. This being the clinching factual position, we deem it appropriate that the larger interest of justice would be met in case the assessee’s instant twin appeals are hereby restored back to the learned PCIT to await the final outcome of the preceding assessment years proceedings i.e. AY 2012-13 subject to their lordship’s final adjudication. We order accordingly. It further made it clear that the assessee shall indeed be at liberty to raise all it’s factual as well as legal contentions; as the case may be, afresh which shall be dealt with in accordance with law. Printed from counselvise.com ITA No.2641 & 2642/Del/2024 4 | P a g e 4. These assessee’s twin appeals ITA Nos. 2641 & 2642/Del/2024 are allowed for statistical purposes in above terms. A copy of this common order be placed in the respective case files. Order pronounced in the open court on 13th August, 2025 Sd/- sd/- (AVDHESH KUMAR MISHRA) (SATBEER SINGH GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 13th August, 2025. RK/- Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi Printed from counselvise.com "