CIT v. Harprashad & Co Ltd.

ACIT, New Delhi vs. Sh. Harveer Singh Kalra, 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.

…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 search there was no incriminating material or document found pertaining to the assessment year under consideration showin…

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.

…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 search there was no incriminating material or document found pertaining to the assessment year under consideration showin…

Unicons India (P) Ltd., Delhi vs. ITO, New Delhi

In the result, the appeal of the assessee is dismissed

Bench: Shri Before Shri G.D. Agrawalbefore Shri Before Shri G.D. Agrawalg.D. Agrawal & G.D. Agrawal & And & Shri Chandra Mohan Garg Shri Chandra Mohan Gargshri Chandra Mohan Garg Shri Chandra Mohan Garg

…ITA-5401/Del/2011 particulars of the purchases and income were furnished by the assessee. He also relied upon Explanation (1) clause (B) of Section 271(1)(c). He further relied upon the following decisions :- (i) CIT Vs. Harparshad and Company Ltd. – [2010] 328 ITR 53 (Delhi). (ii) Mak Data P.Ltd. Vs. CIT – [2013] 358 ITR 593 (SC). 8. Learned DR, therefore, stated that learned CIT(A) has rightly sustained the penalty. His order may be upheld. 9. We have carefully considered the arguments of both the sides and perused the material placed before us. The first contention of the learned counsel for the assessee w…

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

…ras HC in case of Sharma Alloys (India) 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 o…

Pramod Mittal

The appeal is allowed in the above terms

…h was plainly untenable. Since the assessee consciously made it, the set-off claim was clearly a “bogus” one and fell within the meaning of that expression. Reliance was placed upon the judgment of this Court reported as CIT v. Harparshad and Company Ltd. 328 ITR 53. 5. This Court has considered the submissions. The order of the AO and the CIT(A) would reveal that there is no separate discussion apart from the fact that the assessee had made a claim for set-off of all the losses incurred by the erstwhile entity. The assessee is to that extent correct in arguing that both the orders are unreasoned. As f…

Pramod Mittal

The appeal is allowed in the above terms

…h was plainly untenable. Since the assessee consciously made it, the set-off claim was clearly a “bogus” one and fell within the meaning of that expression. Reliance was placed upon the judgment of this Court reported as CIT v. Harparshad and Company Ltd. 328 ITR 53. 5. This Court has considered the submissions. The order of the AO and the CIT(A) would reveal that there is no separate discussion apart from the fact that the assessee had made a claim for set-off of all the losses incurred by the erstwhile entity. The assessee is to that extent correct in arguing that both the orders are unreasoned. As f…