ACIT, CIRCLE- 8(2), NEW DELHI vs. ETHICAL INFRASTRUCTURES PVT. LTD., NEW DELHI

PDF · subscribers
ITA 3796/DEL/2018Status: DisposedITAT Delhi25 November 2021AY 2009-104 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the dispute had been settled under the Direct Tax Vivad se Vishwas Scheme, 2020. Consequently, both the Revenue's appeal and the assessee's cross-objection were dismissed.

What were the facts?

The Revenue appealed against the deletion of an addition of Rs. 3 crores made by the Assessing Officer. The assessee filed a cross-objection regarding the assessment order. Both the appeal and cross-objection were filed for assessment year 2009-10.

What were the issues?

Whether the addition on account of unexplained receipts was rightly deleted by the CIT(A), and whether the assessment order was passed without jurisdiction.

Which sections of the Income-tax Act were involved?

Section 68,Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI ‘B’ BENCH,

Before: SHRI N.K. BILLAIYA, & SHRI AMIT SHUKLA

For Appellant: Shri Deepesh Garg, Adv
For Respondent: Shri Pranav Kumar, Sr. DR
Hearing: 25.11.2021Pronounced: 25.11.2021

Heard together (2 matters)

ITA No. 3796/DEL/2018
CO No. 04/DEL/2021

Read from the judgment's own cause title. This page is filed under one of them.

PER N.K. BILLAIYA, ACCOUNTANT MEMBER,

1.

This appeal by the Revenue and cross objection by the assessee are preferred against the order of the Commissioner of Income Tax [Appeals] – 3, New Delhi dated 03.02.2018 pertaining to assessment year 2009-10.

2.

The solitary grievance of the Revenue is that the ld. CIT(A) erred in deleting the addition of Rs. 3 crores made by the Assessing Officer on account of unexplained receipts income u/s 68 of the Income-tax Act, 1961 [hereinafter referred to as 'The Act'].

3.

The cross objection by the assessee relates to the not quashing of the assessment order passed by the Assessing Officer u/s 143(3) r.w.s 147 of the Act without assuming jurisdiction.

4.

At the very outset, the ld. counsel for the assessee drew our attention to Form No. 5 which is the order for full and final settlement of tax arrears u/s 5(2) r.w.s 6 of the Direct Tax Vivad se Vishwas Scheme, 2020.

5.

We find that the quarrel raised in has been settled. Therefore, the appeal of the Revenue has to be dismissed and so also the cross objection raised by the assessee.

6.

In the result the appeal of the Revenue in as well as the cross objection in CO No. 04/DEL/2021 are dismissed.

The order is pronounced in the open court on 25.11.2021 in the presence of both the rival representatives.

More judgments on Section 68

All 29,931 judgments and leading authorities on Section 68 →

Recent GST High Court judgments

Search GST case law →