M/S. BEST FOODS LTD.,NEW DELHI vs. PR. CIT, GURGAON

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ITA 2792/DEL/2017Status: DisposedITAT Delhi28 June 2023AY 2012-132 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal, in the absence of any contrary material and given the assessee's non-appearance, declined to interfere with the PCIT's order. The PCIT's direction for further verification was upheld.

What were the facts?

The assessee filed an appeal against the PCIT's order under Section 263. The PCIT noted that the AO had not adequately examined the maintenance of separate books, compliance with Form 10CCB, verification of construction costs for specified businesses, and usage of a new warehouse.

What were the issues?

Whether the Assessing Officer's assessment was erroneous and prejudicial to the interests of the revenue, necessitating revision under Section 263.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

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

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

Hearing: 27.04.2023Pronounced: 28.06.2023

ORDER

Per Dr. B. R. R. Kumar, Accountant Member:

1.

The present appeal has been filed by the assessee against the order of ld. PCIT, Central, Gurgaon dated 10.03.2017.

2.

The assessee filed appeal before the Tribunal in June 2017. During the hearings conducted none appeared on 03.08.2021, 07.10.2021, 13.12.2021, 14.02.2022, 21.04.2022, 28.07.2022, 02.08.2022, 16.11.2022, 16.02.2023 and 27.04.2023.

3.

The ld. PCIT passed order u/s 263 of the Income Tax Act, 1961 on 10.03.2027 and held that the AO has not examined whether separate books have been maintained and compliance of statutory report in Form 10CCB has been duly made. The ld. PCIT has also held that the AO has not verified the cost of Best Foods Ltd. construction of setting up of specified business and no examination has been done with regard to usage of new warehouse.

4.

We have gone through the material on record. In the absence of any material contra, we decline to interfere with the order of the ld. PCIT.

5.

In the result, the appeal of the assessee is dismissed. Order Pronounced in the Open Court on 28/06/2023.

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