ACIT, CENTRAL CIRCLE-26, NEW DELHI vs. BHARAT BUILDTECH P.LTD, NEW DELHI
In the result, the appeal of the Revenue stands dismissed
ITA 1460/DEL/2018[2013-14]Status: DisposedITAT Delhi28 Jun 2024AY 2013-14
Bench: Shri Shamim Yahya & Shri Sudhir Pareekacit, Central Circle 26, Vs. M/S. Bharat Buildtech P. Ltd., New Delhi. 8-B, Rajendra Park, Pusa Road, New Delhi. (Pan : Aaccb4322K) (Appellant) (Respondent) Assessee By : Shri Ved Jain, Advocate Shri Aman Garg, Ca Revenue By : Shri Kanv Bali, Sr. Dr Date Of Hearing : 26.06.2024 Date Of Order : 28.06.2024 Order Per Shamim Yahya: This Appeal By The Assessee Is Directed Against The Order Of The Ld. Cit (Appeals)-29, New Delhi Dated 08.12.2017 For The Assessment Year 2013-14. 2. Grounds Of Appeal Taken By The Revenue Read As Under :- “1. That On The Facts & Under The Circumstances Of The Case, The Ld. Cit(A) Has Erred In Law In Allowing The Appeal Of Assessee On The Issue Of Initiating The Assessment Proceedings Against The Appellant U/S 153C Of The Act In The Absence Of Any Material Belonging To The Appellant Company Found During The Course Of Search, Ignoring That The Addition Was Made On The Basis Of Documents Found During Search Containing Entries Pertaining To The Assessee & Also Not Appreciating The Ratio Laid
For Appellant: Shri Ved Jain, AdvocateFor Respondent: Shri Kanv Bali, Sr. DR
Section 131Section 153CSection 292CSection 69Section 69A
…the addition was made on the basis of documents found during search containing entries pertaining to the assessee and also not appreciating the ratio laid 2 down by the hon'ble Jurisdictional High Court in the case of Ganpati Fincap Services Pvt. Ltd (2017) 395 ITR 692 (Delhi). 2. That on the facts and in the circumstances of the circumstances of the case, the Ld. CIT(A) has erred in law and on the facts in deleting the addition of RS.1.80 Crore made by the AO on account of unexplained investment signified by purchase of property u/s 69 of the I.T. Act, when none of the parties has challenged the document and s…
