PP JEWELLERS PRIVATE LIMITED,DELHI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CC-25, DELHI

ITA 2449/DEL/2024Status: DisposedITAT Delhi29 July 2024AY 2012-13Bench: SHRI SHAMIM YAHYA (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)3 pages
AI SummaryRemanded

What did the Tribunal hold?

The Income Tax Appellate Tribunal (ITAT) remitted the matter back to the CIT (Appeals) for a fresh hearing. This decision was based on the assessee's plea that their previous counsel could not present the case properly due to old age and illness, a proposition that the Departmental Representative did not object to. The ITAT concluded that granting an opportunity of being heard to the assessee would serve the interest of justice.

What were the facts?

For Assessment Year 2012-13, the Assessing Officer made an addition of Rs. 52,01,042/- to PP Jewellers Private Ltd., treating an amount taken from its subsidiary as deemed dividend under Section 2(22)(c) of the Income Tax Act. The CIT (Appeals) upheld this addition, noting that the assessee had not made any submissions during the appellate proceedings before him.

What were the issues?

Whether the addition of Rs. 52,01,042/- as deemed dividend under Section 2(22)(c) was justified, and whether the CIT(A) erred in dismissing the appeal without considering the reason for the lack of submissions from the assessee.

Which sections of the Income-tax Act were involved?

2(22)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘F’ : NEW DELHI

Before: SHRI SHAMIM YAHYA & SHRI VIMAL KUMAR

For Appellant: Shri SS Nagar, Advocate, Shri Gaurav Sachdeva, CA
For Respondent: Shri Brij Mohan Singh, Sr. DR
Hearing: 24.07.2024

PER SHAMIM YAHYA, ACCOUNTANT MEMBER This appeal by the assessee is directed against the order of the ld. CIT (Appeals)- 29, New Delhi dated 19.03.2024 for the assessment year 2012-13. 2. Grounds of appeal taken by the assessee read as under :- “1. That on the facts and in the circumstances of the case, the disallowance, imposition of tax and interest with reference thereto, the quantification of taxable income and the tax liability, has been grossly unjustified, erroneous and unsustainable and necessary direction be given to the AO to give appropriate relief in accordance with law.

2.

That on the facts and in the circumstances of the case, the Ld. CIT- (A) was not justified and grossly erred in dismissing the app

The order continues below.

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