PROGRESSIVE SHELTERS PRIVATE LIMITED,NEW DELHI vs. ITO,WARD-20(2), NEW DELHI
Before: SHRI SATBEER SINGH GODARA & SHRI NAVEEN CHANDRAAssessment Year: 2012-13
PER SATBEER SINGH GODARA, JM
This assessee’s appeal for assessment year 2012-13, arises against the Commissioner of Income Tax (Appeals)/National
Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250/2024-25/1066639211(1), dated
12.07.2024 involving proceedings under section 143(3) r.w.s. 147
of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
2. Heard both the parties. Case file perused.
Assessee by Sh. Rajkumar Gupta, CA
Department by Ms. Harpreet Kaur Hansra, Sr. DR
Date of hearing
01.05.2025
Date of pronouncement
01.05.2025
2 | P a g e
It emerges during the course of hearing with the able assistance coming from both the parties that the Assessing Officer had framed his regular assessment herein dated 11.12.2019 disallowing the assessee’s purchases of Rs.1,52,21,341/- as bogus; being in the nature of accommodation entries only. So far as the learned CIT(A)/NFAC’s order is concerned, the Revenue could hardly dispute the clinching factual position that he has gone by various judicial precedents on the issue of share application money’s genuineness than having dealt with the assessee’s alleged bogus purchases (para 4.5 and 4.6, at page 20 of the lower appellate findings). 4. That being the case, we hereby deem it appropriate in the larger interest of justice to restore the assessee’s very issue to the CIT(A)/NFAC for it’s afresh appropriate adjudication, within three effective opportunities subject to a rider that the taxpayer shall plead and prove the case at his own risk and responsibility, in consequential proceedings. Ordered accordingly. 3 | P a g e
Before parting, we further make it clear that all the remaining issues raised herein are very much left open for their adjudication in tune with section 250(6) of the Act. 6. This assessee’s appeal is allowed for statistical purposes. Order pronounced in the open court on 1st May, 2025 (NAVEEN CHANDRA) JUDICIAL MEMBER
Dated: 1st May, 2025. RK/-