RAJEEV BEHL,DELHI vs. DCIT, NEW DELHI

ITA 1931/DEL/2015Status: DisposedITAT Delhi29 June 2016AY 2012-1331 pages
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What did the Tribunal hold?

The Tribunal held that for assessment year 2012-13, the AO correctly passed the assessment order under Section 143(3) as the conditions for Section 153C(2) were not met. For other assessment years, the Tribunal found no nexus between the additions made and the seized documents, quashing the assessments.

What were the facts?

During a search operation, documents related to the assessee, Rajeev Behl, were found. The Assessing Officer (AO) initiated proceedings under Section 153C, alleging that these documents pertained to the assessee's interest in the Realtech Group. The AO made additions based on unsecured loans where complete details were not furnished.

What were the issues?

Whether proceedings under Section 153C were validly initiated and whether additions made under Section 68 were substantiated by seized documents. Also, whether assessment for AY 2012-13 should have been under Section 153C or 143(3).

Which sections of the Income-tax Act were involved?

Section 153C,Section 68,Section 14A,Section 143(3),Section 153C(2)

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Income Tax Appellate Tribunal, DELHI BENCH “F” NEW DELHI

Before: SHRI S.V. MEHROTRA : & SHRI C.M. GARG :

For Appellant: Shri Kapil Goel Adv
Hearing: 10/06/2016

PER S.V. MEHROTRA, A.M:

These are assessee’s appeals against separate orders passed by the ld. CIT(Appeals) relating to asstt. Years 2007-08 to 2010-11 and 2012-13. Since common issues are involved for adjudication, therefore, all these appeals were heard together and are being disposed of by this common order for the sake of convenience.

2.

Brief facts of the case, as noted by the AO, are that a search and seizure action in Kalra group of cases was initiated on 28.07.2011. Main company of the group was Consortium Securities Private Ltd. and it was a stock brokering company, having membership of National Stock Exchange (NSE), Bombay Stock Exchange

The order continues below.

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