PRINCIPAL COMMISIONER OF INCOME TAX-7, NEW DELHI vs. M/S PRIAPUS DEVELOPERS PRIVATE LIMITED

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ITA/16/2024HC DelhiDLHC01057844202301 February 2024Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV2 pages
AI SummaryDismissed

What did the High Court hold?

The High Court held that the issues raised in the present appeal were concluded by its previous decision in The Pr. Commissioner of Income Tax-7 vs. Pariapus Developers Pvt. Ltd. [ITA 54/2024]. Consequently, the present appeal was directed to meet a similar fate. Regarding the specific issue of disallowance under Section 14A of the Income Tax Act, 1961, the Revenue's counsel fairly conceded that this issue stood answered against the appellant, citing the High Court's judgment in Indiabulls Financial Services Ltd. vs. Dy. CIT, [2016 SCC OnLine Del 6110]. The appeal, along with the pending application for condonation of delay, was dismissed.

What were the facts?

This is an appeal by the Principal Commissioner of Income Tax-7, New Delhi (the Revenue) against an order of the Income Tax Appellate Tribunal (ITAT). The appeal concerns assessment year(s) not specified in the judgment. The Revenue is challenging the ITAT's decision. The respondent is M/s Priapus Developers Private Limited. The appeal was filed with a delay, for which an application for condonation was also filed. The High Court noted that the issues raised in this appeal were concluded by its prior decision in The Pr. Commissioner of Income Tax-7 vs. Pariapus Developers Pvt. Ltd. [ITA 54/2024]. The Revenue's counsel also conceded on a specific issue regarding disallowance under Section 14A.

What were the issues?

1. Whether the issues raised in the appeal stand concluded by the High Court's prior decision in The Pr. Commissioner of Income Tax-7 vs. Pariapus Developers Pvt. Ltd. [ITA 54/2024]? (Question of law) 2. Whether the disallowance under Section 14A of the Income Tax Act, 1961, was correctly decided against the appellant? Assessee's contentions: Not recorded in the judgment. Revenue's contentions: The Revenue, through its counsel, conceded that the issue pertaining to disallowance under Section 14A of the Income Tax Act, 1961, was answered against the appellant in light of the judgment in Indiabulls Financial Services Ltd. vs. Dy. CIT, [2016 SCC OnLine Del 6110]. No specific arguments were recorded for the other issues, other than the appeal being dismissed in light of a prior decision.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

$~9 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 16/2024 & CM APPL. 806/2024 (Delay) PRINCIPAL COMMISIONER OF INCOME TAX-7, NEW DELHI

..... Appellant

Through: Mr.Aseem Chawla, Sr.SC with

Ms.Pratishtha Chaudhary,

Mr.Naveen Rohila and

Mr.Aditya Gupta, Adv.

versus

M/S PRIAPUS DEVELOPERS PRIVATE LIMITED ..... Respondent

Through: None.

CORAM:

HON'BLE MR. JUSTICE YASHWANT VARMA HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV

O R D E R %

01.02.2024

1.

We note that the issues raised in this appeal stand concluded in light of the decision rendered by this Court in The Pr. Commissioner of Income Tax-7 vs. Pariapus Developers Pvt. Ltd. [ITA 54/2024]. Accordingly, and for the reasons assigned in that decision, this appeal shall meet a similar fate. 2. The appeal along with pending application shall stand dismissed. 3. In so far as the proposed question pertaining to disallowance under Section 14(A) of the Income Tax Act, 1961 is concerned, Mr. Chawla, learned counsel for the appellant fairly concedes that the said This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 03/07/2025 at 00:33:50

issue stands answered against the appellant in light of the judgment rendered by this Court in Indiabulls Financial Services Ltd. vs. Dy. CIT, [2016 SCC OnLine Del 6110].

YASHWANT VARMA, J.

PURUSHAINDRA KUMAR KAURAV, J. FEBRUARY 01, 2024/MJ This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 03/07/2025 at 00:33:50

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