CIT v. Escorts Finance Ltd.

ACIT, New Delhi vs. Smt. Mehar Anand, New Delhi

In the result, the appeals of the department are dismissed

Bench: Sh. N. K. Sainiita Nos. 6438 & 6439/Del/2016 : Asstt. Years : 2010-11 & 2011-12 Acit, Vs Smt. Mehar Anand, Central Circle-14, A-29, Defence Colony, New Delhi-110055 New Delhi-110065 (Appellant) (Respondent) Pan No. Afepa9193B Ita Nos. 6440 & 6441/Del/2016 : Asstt. Years : 2009-10 & 2011-12 Acit, Vs Sh. Harveer Singh Kalra, Central Circle-14, A-29, Defence Colony, New Delhi-110055 New Delhi-110065 (Appellant) (Respondent) Pan No. Afbpk6171Q Assessee By : Sh. Ved Jain, Adv. & Sh. Ashish Chadha, Ca Revenue By : Sh. Amrit Lal, Sr. Dr Date Of Hearing : 16.05.2017 Date Of Pronouncement : 31.05.2017 Order These Appeals By The Department Are Directed Against The Separate Orders Each Dated 07.09.2016 Of Ld. Cit(A)-Xxvi, New Delhi.

…u/s 271(1)(c) of the Act and levied the penalty of Rs.355/-. The reliance was placed on the following case laws: " K. P. Madhusudan Vs CIT 251 ITR 99 (SC) " Tirupati Kumar Khemka & Another Vs CIT (2007) 291 ITR 122 (Mad.) " CIT Vs Escorts Finance Ltd. (2010) 328 ITR 44 (Del.) " CIT Vs Zoom Communications Ltd. (2010) 327 ITR 510 (Del.) " CIT Vs Harparshad and Company Ltd. (2010) 328 ITR 53 (Del.) " ACIT-CC-II(5) Vs Smt. J. Mythili (2014) 49 ITD 275 (Chennai) 7. Being aggrieved the assessee carried the matter to the ld. CIT(A) and submitted as under: “1. Your honour, as stated herein above during the course of the…

Oriental Bank of Commerce, Gurgaon vs. ACIT, New Delhi

In the result, the appeal is dismissed

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘E’ NEW DELHI BEFORE : SHRI I.C. SUDHIR, JUDICIAL MEMBER & SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA No. 5865/Del./2013 Asstt. Year : 2005-06 Oriental Bank of Commerce, vs. A.C.I.T., Circle 13(1), Central Accounts Officer, New Delhi. Plot No. 5, Sector-32, Institutional Area, Gurgaon. (PAN: AAACO 0191M) (Appellant) (Respondent) Appellant by : Sh. K.V.S.R. Krishna, CA Respondent by : None(application rejected) Date of hearing : 07.04.2017 Date of pronouncement : 21.04.2017 ORDER Per L.P. Sahu, Accountant Member: This is an appeal filed by the assessee, M/s.…

Hazorilal & Sons Jewellers P. Ltd., New Delhi vs. DCIT, New Delhi

Appeals of the assessee are allowed

Bench: Shri R. K. Panda & Smt Suchitra Kamblei.T.A .No.-4060/Del/2014 (A.Y 2007-08) I.T.A .No.-4061/Del/2014 (A.Y 2008-09) I.T.A .No.-4062/Del/2014 (A.Y 2009-10)

…s very short dates were given by him and adjournment sought on account of hospitalization of the counsel was denied. In his Ex parte order he went on to uphold levy of penalty relying on Delhi High Court decision in the case of CIT v ESCORT FINANCE LTD (2010) 328 ITR 44 (DEL) and CIT v ZOOM COMMUNICATION PVT. LTD. (2010) 327 ITR 510 (DEL), on the premise that disallowance of bogus claim will attract penalty as department take very meager cases for scrutiny assessment and if such case would not have taken up for scrutiny assessee would have got away with the disallowable claim and even if caught in scrutiny assess…

Hazorilal & Sons Jewellers P. Ltd., New Delhi vs. DCIT, New Delhi

Appeals of the assessee are allowed

Bench: Shri R. K. Panda & Smt Suchitra Kamblei.T.A .No.-4060/Del/2014 (A.Y 2007-08) I.T.A .No.-4061/Del/2014 (A.Y 2008-09) I.T.A .No.-4062/Del/2014 (A.Y 2009-10)

…s very short dates were given by him and adjournment sought on account of hospitalization of the counsel was denied. In his Ex parte order he went on to uphold levy of penalty relying on Delhi High Court decision in the case of CIT v ESCORT FINANCE LTD (2010) 328 ITR 44 (DEL) and CIT v ZOOM COMMUNICATION PVT. LTD. (2010) 327 ITR 510 (DEL), on the premise that disallowance of bogus claim will attract penalty as department take very meager cases for scrutiny assessment and if such case would not have taken up for scrutiny assessee would have got away with the disallowable claim and even if caught in scrutiny assess…

Hazorilal & Sons Jewellers P. Ltd., New Delhi vs. DCIT, New Delhi

Appeals of the assessee are allowed

Bench: Shri R. K. Panda & Smt Suchitra Kamblei.T.A .No.-4060/Del/2014 (A.Y 2007-08) I.T.A .No.-4061/Del/2014 (A.Y 2008-09) I.T.A .No.-4062/Del/2014 (A.Y 2009-10)

…s very short dates were given by him and adjournment sought on account of hospitalization of the counsel was denied. In his Ex parte order he went on to uphold levy of penalty relying on Delhi High Court decision in the case of CIT v ESCORT FINANCE LTD (2010) 328 ITR 44 (DEL) and CIT v ZOOM COMMUNICATION PVT. LTD. (2010) 327 ITR 510 (DEL), on the premise that disallowance of bogus claim will attract penalty as department take very meager cases for scrutiny assessment and if such case would not have taken up for scrutiny assessee would have got away with the disallowable claim and even if caught in scrutiny assess…

DCIT, New Delhi vs. M/S. Moksha Business Solutions Pvt. Ltd., New Delhi

In the result, appeal of the revenue is allowed for statistical purposes

Bench: Shri H.S.Sidhu & Shri Prashant Maharishidcit, Moksha Business Solutions Pvt. Ltd, Circle-5(1), Room No. 409A, 308, 311, Vardhaman Plaza Vs. Cr Building, Ip Estate, New Delhi Derawala Nagar, New Delhi Pan:Aaecm0877E (Appellant) (Respondent)

…ion of its income and its accounts being subjected to audit, the assessee failed to explain as to why disallowance was not made in the return itself. 2.3 That the ration as laid down by the Hon'ble Delhi High Court in the case of CIT Vs. Escorts Finance Ltd. (328 ITR 44) and in the case of CIT Vs. Zoom communication Pvt. Ltd (327 ITR 510) is clearly applicable in this case.” 3. The assessee is a company filed its return of income on 30.10.2007 declaring loss of Rs. 6651101/-. The case of the assessee was taken up for scrutiny and Page 2 of 3 during the course of assessment proceeding the assessee was asked to pro…

M/S. Deloitte Haskins & Sells, Gurgaon vs. ACIT, New Delhi

Bench: Shri I.C.Sudhir & Shri Prashant Maharishidelloitte Haskins & Sells, Acit, 7Th Floor, Building 10, Circle-37(1), Vs. Tower B, Dlf Cyber City New Delhi Complex, Dlf City Phase- Ii, Gurgaon Pan:Abfd2095B (Appellant) (Respondent)

…rn of income was factually incorrect and the appellant cannot escape the rigours of the provisions of section 271 (1) ( c) of the income tax act, 1961. He further quoted the decision of the Hon‟ble Delhi High Court in the case of CIT versus Escort finance Ltd 328 ITR 44 wherein it has been held that even if there is no concealment of income or furnishing of inaccurate particulars, but if the claim which is ex- facie bogus the same will still attract penalty provisions. He further relied upon the decision of the Hon‟ble Delhi High Court in the case of CIT versus Zoom Communications private limited that non sustain…

DCIT, New Delhi vs. M/S. Granite Gate Properties Pvt. Ltd., New Delhi

Bench: Shri H.S. Sidhu & Shri Anadi N Mishra

…nsactions and the same cannot be said to be a false claim. The Ld. CIT-OR also has not been able to show as to how such claim as made was maiafide in nature. 6. In para 3, the Ld. CIT-OR has relied on Delhi High Court judgment in CIT vs. Escorts Finance Ltd. 328 ITR 44. Facts of this case are distinguishable from the facts o f Assessee's case. In this case, penalty was levied because the Assessee had made an ex facie bogus claim under section 350. On the facts o f this case, it was held that relief available u/s 350 to a Finance Co. is ex facie inadmissible as that is confined only to the existing industrial und…

Suresh Prasad Aggarwal, New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee is allowed

Bench: Sh. N. K. Sainiita No. 6031/Del/2014 : Asstt. Year : 2010-11 Suresh Prasad Aggarwal, Vs Deputy Commissioner Of Income P-8, Green Park Extension, Tax, Circle-37(1), New Delhi-110016 New Delhi (Appellant) (Respondent) Pan No. Aaapa3267H Assessee By : Sh. Akshat Jain, Ca Revenue By : Ms. Anima Barnwal, Sr. Dr Date Of Hearing : 25.07.2016 Date Of Pronouncement : 14.10.2016 Order This Is An Appeal By The Assessee Against The Order Dated 25.09.2014 Of Ld. Cit(A)-Xxviii, New Delhi.

…alty levied by the Assessing Officer is required to be confirmed as the necessary ingredients for levy of penalty i.e. inaccurate particulars, malafide intention and mensrea are present. The Hon'ble Delhi High Court in the case of CIT vs. Escort Finance Ltd., 328 ITR 44 has held that even if there is no concealment of income or furnishing of inaccurate particulars, but if a claim which is ex-facie bogus is made, the same will still attract penalty provisions. Similar views have been expressed by the Hon'ble Court in the case of CIT vs. Zoom Communications 5 Suresh Prasad Aggarwal (P) Ltd, holding that very few r…

Hotel Steelwell Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is dismissed

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

…guage of the section. Had it been so, the assessee would have challenged the disallowance in further appeal, which he failed to do. The ld. CIT(A) has relied upon the decision of Hon’ble jurisdictional High Court in the case of CIT vs. Escorts Finance Ltd., 328 ITR 44 (Del.) in this regard, which deals with the similar situation though about applicability of section 35D of the Act, against which no contrary decision is brought on record by the ld. Counsel for the assessee. The expenditure so incurred by the assessee are not on revenue account for the simple reason that it was not in 6 ITA No.754/Del./2011 resp…

M/S Nicotra India Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, both the appeals filed by the assessee are dismissed

Bench: Shri H.S. Sidhu & Shri Anadi N Mishra

…ITA Nos. 3953,3954/Del/2013 INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “E”: NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI ANADI N MISHRA, ACCOUNTANT MEMBER ITA Nos.:- 3953, 3954/Del/2013 Assessment Years: 2005-06, 2006-07 Nicotra India Pvt. Ltd., ACIT Shop No. 2F-201, IInd Floor, Circle 13(1), Vs. Plot No. 1 & 2 New Delhi. LSC Block G, Kondli, Gharoli, Mayur Vihar, Phase-II, New Delhi – 110 032. PAN AABCN6199B (Appellant) (Respondent) Assessee by : Ms. Vandna Gopal Sharda, FCA Department by: Shri Umesh Chander Dubey, Sr. DR Date of Hearing 25/07/2016 Date of pronouncement /08/2016 O R D E R PER…

M/S Nicotra India Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, both the appeals filed by the assessee are dismissed

Bench: Shri H.S. Sidhu & Shri Anadi N Mishra

…Fit for Publication (AM) (JM) ITA Nos. 3953,3954/Del/2013 INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “E”: NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI ANADI N MISHRA, ACCOUNTANT MEMBER ITA Nos.:- 3953, 3954/Del/2013 Assessment Years: 2005-06, 2006-07 Nicotra India Pvt. Ltd., ACIT Shop No. 2F-201, IInd Floor, Circle 13(1), Vs. Plot No. 1 & 2 New Delhi. LSC Block G, Kondli, Gharoli, Mayur Vihar, Phase-II, New Delhi – 110 032. PAN AABCN6199B (Appellant) (Respondent) Assessee by : Ms. Vandna Gopal Sharda, FCA Department by: Shri Umesh Chander Dubey, Sr. DR Date of Hearing 25/07/2016 Date of pronoun…

Shri Aditya Malla, Noida vs. ITO, Noida

In the result, appeal filed by the assessee stands partly allowed

Bench: Shri G. D. Agrawal, Hon’Ble & Smt. Beena A. Pillai

…ltd.(Mad) (357 ITR 379) = 2013-TIOl- 559-HC-MAD-IT .and 12 I.T.A.No.2457./Del/2016 judgements of Hon'ble Delhi HC in the cases of ECS Ltd.(Del) (336 ITR 162) = 2010-TIOl-287-HC-DEl-IT, Harparshad and Company ltd.(Del) (328 ITR 53), Escorts Finance Ltd.(Del)(328 ITR 44) = 2009-TIOL- 483-HC-DEL-IT and ClT vs. Zoom Communication Pvt. Ltd.(2010-TIOL-361-HC-DEL-IT). (v) In para 17, the Hon’ble ITAT reproduced the relevant portion of judgment of Hon'ble Delhi HC in the case of Zoom Communication Pvt. Ltd.(supra) including the following: "The court cannot overlook the fact that only a small percentage of the income- t…

M/S. Gupta International, Panipat vs. ACIT, Panipat

In the result, the appeal of the assessee is partly allowed

Bench: Shri Before Shri G.D. Agrawalbefore Shri Before Shri G.D. Agrawalg.D. Agrawal & G.D. Agrawal & And & Smt. Beena A. Pillai Mt. Beena A. Pillai Mt. Beena A. Pillaimt. Beena A. Pillai

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH ‘ DELHI DELHI BENCH ‘C’ : NEW DELHI BENCH ‘ BENCH ‘ ’ : NEW DELHI ’ : NEW DELHI ’ : NEW DELHI BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT AND G.D. AGRAWAL, VICE PRESIDENT AND AND AND , JUDICIAL MEMBER SMT. BEENA A. PILLAI MT. BEENA A. PILLAI MT. BEENA A. PILLAI, JUDICIAL MEMBER MT. BEENA A. PILLAI , JUDICIAL MEMBER , JUDICIAL MEMBER ITA No 2247/Del/2014 ITA No…

Hewitt Associates (India) Pvt. Ltd.., Gurgaon vs. DCIT, New Delhi

The appeal of the assessee is allowed

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

…wever, the Ld. CIT(A) was of the opinion that the onus of establishing that there was a bonafide mistaken was on the assessee and that keeping in view the decisions of CIT vs. Zoom Communications P. Ltd. 191 Taxman 179 (Del) and CIT vs. Escorts Finance Ltd 328 ITR 44 (Del), it was clear that in this case the assessee had not provided true and complete particulars of income and that it was only after the case being examined under scrutiny that the assessee made an application for rectification and came forward with the submission that this amount had escaped the computation of income. Accordingly, the imposit…