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Income Tax Appellate Tribunal, DELHI BENCH ‘B’, NEW DELHI
Before: SH. N. K. BILLAIYA & MS. ASTHA CHANDRA
BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND MS. ASTHA CHANDRA, JUDICIAL MEMBER Assessment Year: 2014-15 ACIT Vs. Unitech Hi-Tech Circle – 27 (1) Developers Ltd. NewDelhi 6, Community Centre, Saket, New Delhi-110017 PAN No.AAACU8064B (APPELLANT) (RESPONDENT) Appellant by Sh. T. James Singson, CIT DR Respondent by Sh. D. C. Garg, CA Date of hearing: 07/12/2023 Date of Pronouncement: 07/12/2023 ORDER PER N. K. BILLAIYA, AM:
This appeal by the revenue is preferred against the order of the CIT(A)-32, New Delhi dated 01.12.2017 pertaining to A.Y.2014-15.
The grievance of the revenue read as under :- i) "On the facts and in the circumstances of the case, Ld. CIT (A) has erred in deleting the addition of Rs.36,77,00,000/- on account of rejection and consequent
re- computation of estimated project cost of Project 'Burgundy'. ii) On the facts and circumstances of the case, Ld. CIT(A) has erred in deleting the addition of Rs.2,50,58,476/- made on account of cessation of liability u/s 41(1) of the Act. iii)The Appellant craves for reserving the right to amend, modify, alter, add or forego any of the Ground(s) of Appeal at any time before or during the hearing of this appeal.
At the very outset the Counsel for the assessee brought to our notice the order of the Hon’ble Supreme Court by which the Hon’ble Supreme Court issued directions for moratorim against all the proceedings against M/s. Unitech Limited and its subsidiaries. The relevant portion of the directions is as under :-
"(vii) Pending further orders of this Court, there shall be a moratorium against the institution of proceedings against Unitech Limited and its subsidiaries. The moratorium shall also extend to existing proceedings against the company as well as enforcement of orders that may have been passed against the company.”
In view of the above this appeal of the revenue is dismissed. However, the revenue is at liberty to approach this Tribunal as and when the final judgment of the Hon’ble Supreme Court comes and this appeal will be revived.
Decision announced in the open court on 07.12.2023.