M/S PUMARTH INFRASTRUCTURE PRIVATE LIMITED,INDORE vs. THE ASSTT COMMISSIONER OF INCOME TAX CIRCLE 4(1), AAYKAR BHAWAN, INDORE

ITA 765/IND/2024Status: DisposedITAT Indore27 February 2026AY 2011-129 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that the assessee failed to present crucial evidence, including an ITSC order, before the CIT(A), leading to an ex-parte decision. As this evidence was presented before the ITAT, the Tribunal, in the interest of justice, decided to restore the matter to the CIT(A) for fresh adjudication with opportunities for the assessee to present all evidence and arguments.

What were the facts?

The assessee company, M/s. Pumarth Infrastructure Private Limited, is appealing against penalties imposed under Section 271(1)(c) for AYs 2009-10 to 2011-12. These penalties arose from additions made by the Assessing Officer (AO) on account of suppressed sale proceeds of plots, which were sustained in part by the ITAT. The assessee claimed income was disclosed before the Income Tax Settlement Commission (ITSC).

What were the issues?

Whether penalty under Section 271(1)(c) is sustainable when crucial evidence regarding disclosure before ITSC was not presented before the lower appellate authority, and if the AO had recorded proper satisfaction for penalty initiation.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 153A,Section 143(3),Section 40A(3)

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M/s. Pumarth Infrastructure Private Limited ITA Nos. 766/Ind/2024, 757/Ind/2024, 765/Ind/2024 AYs: 2009-10 to 2011-12 271(1)(c) of the Income-tax Act, 1961 [“the Act”] for Assessment-Year [“AY”] 2009-10, 2010-11 and 2011-12. 2. The background facts leading to present appeals are as under: (i)

The assessee is a private limited company incorporated on 11.10.1982 and engaged in the business of real estate development. At the relevant time, the assessee developed two projects named “Pumarth Park" and "Pumarth Meadows". A search and seizure u/s 132 was carried upon “Apollo Group/Pumarth Group of Indore” including assessee on 21.09.2012. Pursuant to search, the quantum- assessments of seven AYs 2007-08 to 2013-14 were completed by a consolidated assessment-order dated 29.01.2016 u/s 153A/143(3). (ii)

In present appeals, we are concerned three AYs 2009-10, 2010-11 and 2011-12. For these three (3) years, the AO completed quantum- assessments after making certain additions/disallowances and determining total income as under: AY 2009-10 AY 2010-11 AY 2011-12 Income as per Return filed u/s 153A 6,69,950 66,31,440 65,14,440 Addition on account of unexplained investment 1,30,53,000 Addition on

The order continues below.

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