ORACLE FARMS LLP (SUCCESSOR TO ORACLE FARMS PVT LTD.),NEW DELHI vs. ACIT CC-16, NEW DELHI
Income Tax Appellate Tribunal, DELHI BENCH ‘E’ : NEW DELHI
Before: SHRI SHAMIM YAHYA & SHRI SUDHIR KUMARAsstt. Year : 2013-14
PER SHAMIM YAHYA, AM:
These appeals filed by the assessee are directed against the respective orders of the Ld. CIT(A)-XXVI, New Delhi dated
24.10.2016 and 07.01.2019 relating to quantum as well as 2 | P a g e penalty appeals for the assessment year 2012-13. First we deal with the quantum appeal, wherein following grounds have been raised:-
1(i) That on the facts and circumstances of the case, CIT(A) was not justified in disregarding the fact that at the time of passing of assessment order the appellant company was not in existence having been converted into LLP and as such there is no legal basis for assessment in respect of non-existent entity.
(ii)
That the issue under consideration was purely of legal nature, the CIT(A) should have adjudicated the legal ground which goes to the root of issue of juri iction.
(iii) That certificate for conversion of appellant company into LLP was issued by