DCIT, NEW DELHI vs. M/S WICKWOOD DEVELOPMENT LTD., NEW DELHI

ITA 3355/DEL/2015Status: DisposedITAT Delhi29 December 2023AY 2007-08Bench: Sh. Saktijit Dey, Vice President Dr. B. R. R. Kumar (Accountant Member)22 pages
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What did the Tribunal hold?

The Tribunal held that the assessments made under Section 153C for the relevant assessment years were outside the scope of the section due to the date of the satisfaction note. Consequently, the assessments were deemed void ab initio.

What were the facts?

The Revenue filed appeals against the CIT(A) orders, while the assessee filed cross-objections. The core issue revolved around the validity of proceedings initiated under Section 153C for assessment years 2006-07 and 2007-08, based on a satisfaction note recorded on November 18, 2013, following a search on March 22, 2012.

What were the issues?

The primary issue was whether the proceedings initiated under Section 153C were valid given the dates of the search, satisfaction note, and the relevant assessment years, and whether the assessments were barred by limitation.

Which sections of the Income-tax Act were involved?

Section 153C,Section 6(3)(ii),Section 9(1),Section 124(4),Section 144C,Section 143(2)

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Cases cited in this judgment(4)Show list

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Income Tax Appellate Tribunal, DELHI BENCH ‘D’, NEW DELHI

Before: Sh. Saktijit DeyDr. B. R. R. Kumar

For Respondent: DR &
Hearing: 26.10.2023Pronounced: 29.12.2023

Heard together (4 matters)

ITA No.3354/Del/2015
ITA No.3355/Del/2015
CO No.358/Del/2015
CO No.359/Del/2015

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

Per Bench: The present appeals by the Revenue and the Cross Objections by the assessee have been filed against the orders of ld. CIT(A)-XXVII, New Delhi. CO Nos. 358 & 359/Del/2015 Wickwood Development Ltd. .

2.

The common grounds raised in ITA Nos. 3354 & 3355/Del/2015. In ITA No. 3354/Del/201

The order continues below.

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