COMMISSIONER OF INCOME TAX-VI vs. M/S VIPUL LTD

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ITA/326/2014HC Delhi28 July 20152 pages
AI SummaryRemanded

What did the High Court hold?

The Income Tax Appellate Tribunal (ITAT) deleted the additions made by the AO. The High Court admitted the appeal for hearing on substantial questions of law regarding the ITAT's decision.

What were the facts?

The appeal concerns the assessment year 2006-07 and involves additions made by the Assessing Officer (AO) based on seized documents and alleged cash payments. The additions relate to cash incentives, unexplained investment in land, and cash paid as an incentive to a director.

What were the issues?

Whether the ITAT was correct in deleting additions related to cash incentives, unexplained investment in land, and cash payments to a director based on seized documents and alleged cash transactions.

Which sections of the Income-tax Act were involved?

Not specified in the provided text

AI-generated summary — verify with the full judgment below

$~60 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 326/2014 COMMISSIONER OF INCOME TAX-VI ..... Appellant Through: Ms Suruchi Aggarwal and Ms Lakshmi Gurung versus M/S VIPUL LTD. ..... Respondent Through: Mr Salil Aggarwal and Mr Ravi Pratap Mall CORAM: HON'BLE MR. JUSTICE BADAR DURREZ AHMED HON'BLE MR. JUSTICE SANJEEV SACHDEVA O R D E R % 28.07.2015 This appeal pertains to assessment year 2006-07. We have heard the learned counsel for the parties on the issue of admission. We admit the appeal for hearing on the following substantial questions of law:- “1. Whether the Income Tax Appellate Tribunal was correct in law in deleting the addition of Rs 11 crores made by the AO relying on certain seized documents found during the course of search from the residence of one of the directors Mr Moti S. Masand, who surrendered an amount of Rs 2 crores as cash incentives? 2. Whether the Income Tax Appellate Tribunal was correct in law in deleting the addition of a sum of Rs 2,37,16,2501/- which was made by the AO as unexplained investment in the purchase of land at Zirakpur being 50% of the amount allegedly paid in cash by the assessee and M/s Orehid? 3. Whether the Income Tax Appellate Tribunal was correct in law in deleting the addition of Rs 26 lakhs stated to be paid in cash to one of the directors Mr Moti S. Masand as incentive?” The printing of paper books are dispensed with. 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 04/04/2026 at 22:00:25

This appeal shall be taken up for hearing along with the other appeals being ITA Nos. 660/2014, 333/2014 and 335/2014 in due course. BADAR DURREZ AHMED, J SANJEEV SACHDEVA, J JULY 28, 2015 SU 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 04/04/2026 at 22:00:25

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