ACIT, CIRCLE-18(2), NOIDA vs. NOIDA TOLL BRIDGE CO. LTD., NOIDA

ITA 4973/DEL/2018Status: DisposedITAT Delhi08 August 2023AY 2009-1092 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the reassessment proceedings were invalid as the Assessing Officer failed to record the assessee's failure to disclose material facts. It also held that agency fees incurred for ensuring compliance with loan agreements were revenue expenditure. Consequently, the assessee's appeals were allowed, and the Revenue's appeals were dismissed.

What were the facts?

The assessee's appeals challenged the reopening of assessment, enhancement by the CIT(A), and the merits of additions. The Revenue's appeals challenged the deletion of additions by the CIT(A). The primary issue revolved around the validity of reassessment proceedings and the deductibility of agency fees.

What were the issues?

The key issues were the validity of reassessment proceedings initiated beyond four years without establishing assessee's failure to disclose material facts, and whether agency fees constituted a capital or revenue expenditure.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 37(1)

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Cases cited in this judgment(24)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Heard together (20 matters)

SA No. 564/DEL/2018
ITA No.4410/DEL/2018
SA No. 565/DEL/2018
ITA No.4411/DEL/2018
SA No. 566/DEL/2018
ITA No.4412/DEL/2018
SA No. 567/DEL/2018
ITA No.4413/DEL/2018
SA No. 568/DEL/2018
ITA No.4415/DEL/2018
SA No. 569/DEL/2018
ITA No.4417/DEL/2018
ITA No.4414/DEL/2018
ITA No.4416/DEL/2018
ITA No. 4968/DEL/2018
ITA No. 4969/DEL/2018
ITA No. 4970/DEL/2018
ITA No. 4973/DEL/2018
ITA No. 4971/DEL/2018
ITA No. 4972/DEL/2018

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

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E’ BENCH, NEW DELHI

BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND MS. ASTHA CHANDRA, JUDICIAL MEMBER

SA No. 564/DEL/2018 [A/o ITA No.4410/DEL/2018 [A.Y. 2006-07]] SA No. 565/DEL/2018 [A/o ITA No.4411/DEL/2018 [A.Y. 2007-08]] SA No. 566/DEL/2018 [A/o ITA No.4412/DEL/2018 [A.Y. 2008-09]] SA No. 567/DEL/2018 [A/o ITA No.4413/DEL/2018 [A.Y. 2009-10]] SA No. 568/DEL/2018 [A/o ITA No.4415/DEL/2018 [A.Y. 2010-11]] SA No. 569/DEL/2018 [A/o ITA No.4417/DEL/2018 [A.Y. 2011-12]] & ITA No.4410/DEL/2018 [A.Y. 2006-07] ITA No.4411/DEL/2018 [A.Y. 2007-08] ITA No.4412/DEL/2018 [A.Y. 2008-09] ITA No.4413/DEL/2018 [A.Y. 2009-10] ITA No.4414/DEL/2018 [A.Y. 2010-11] ITA No.4415/DEL/2018 [A.Y. 2010-11] ITA No.4416/DEL/2018 [A.Y. 2011-12] ITA No.4417/DEL/2018 [A.Y. 2011-12] Circle – 18(2), Noida Noida

PAN : AAACN 3498 A ITA No. 4968/DEL/2018 [A.Y. 2006-07] ITA No. 4969/DEL/2018 [A.Y. 2007-08] ITA No. 4970/DEL/2018 [A.Y. 2008-09] ITA No. 4973/DEL/2018 [A.Y. 2009-10] ITA No. 4971/DEL/2018 [A.Y. 2010-11] ITA No. 4972/DEL/2018 [A.Y. 2011-12]

The A.C.I.T Vs. Noida Toll Bridge Co.

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