CIT v. Jansampark Advertising & Marketing (P.) Ltd.

56 Taxmann.com 286High Court2015#478 most cited

What is CIT v. Jansampark Advertising & Marketing (P.) Ltd. authority for?

The Commissioner of Income-tax (Appeals) has an independent statutory obligation to conduct proper inquiries and verify facts, especially when the Assessing Officer has failed to do so. The CIT(A) must ensure effective inquiry is carried out before deleting additions or accepting additional evidence.

196

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Jansampark Advertising · Jansampark Advertising · 375 ITR 373 · CIT(A) obligation to inquire · independent verification of facts · section 250(4) · Rule 46A · additional evidence · deleting additions · unexplained investments · cash credits · duty of appellate authority

Also reported as

375 ITR 373

Sections most often in play

Section 1961Section 143(3)Section 68Section 132Section 142(1)Section 153ASection 132(4)Section 153C
Read the full judgment

Issues it is cited on

section 292ccsummons under section 131section 250(4)dumb documentssection 132(4a)section 292cchildloose paperssatisfaction notesection 131section 292section 29

Judgments citing CIT v. Jansampark Advertising & Marketing (P.) Ltd.

ITO 28(3)(4), Navi Mumbai vs. V.M. Construction, Navi Mumbai

In the result appeal of the Revenue in ITA 5752/Mum/2015 for assessment year 2008-09 is allowed for statistical purposes

ITA 5752/MUM/2015[2008-09]Status: DisposedITAT Mumbai23 Nov 2017AY 2008-09

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No. 5752/Mum/2015 (नििाारण वर्ा / Assessment Year : 2008-09)

For Appellant: Ms. Ritika AgarwalFor Respondent: Ms. Pooja Swaroop
Section 132Section 133ASection 143(1)Section 143(3)Section 147Section 148

…आयकर अपीऱीय अधिकरण “F” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No. 5752/Mum/2015 (नििाारण वर्ा / Assessment Year : 2008-09) बिाम/ ITO 28(3)(4) V.M. Construction, R.No.320, Vashi Rly, Station Gala No.H-544/545, APMC Complex, Tower no. 6, Fruit Market, Sec-19 v. 3rd Floor, Vashi, Turbhe, Navi Mumbai- Navi Mumbai 400705 स्थायी ऱेखा सं./ PAN : AAFFV4933L (अपीऱाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue by : Ms. Pooja Swaroop Assessee by: Ms. Ritika Agarwal सुनवाई की त…

DCIT, Cir-2, Jalpaiguri vs. M/S Uttar Banga Kshetriya Gramin Bank, Coochbihar

In the result, Revenue’s appeal is allowed partly for statistical purpose

ITA 708/KOL/2015[2012-2013]Status: DisposedITAT Kolkata08 Nov 2017AY 2012-2013

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 143(3)Section 194HSection 194JSection 36(1)Section 36(1)(viia)

…आयकर अपील"य अधीकरण, "यायपीठ – “B” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “B” KOLKATA Before Shri Aby.T Varkey, Judicial Member and Shri Waseem Ahmed, Accountant Member ITA No.707-708/Kol/2015 Assessment Years:2011-12 & 2012-13 DCIT, Circle-2, V/s. M/s Uttar Banga 2nd Floor, C.R. Building, Kshetriya Grami Bank, Race Coure Para, Naya Head Office, Sunity Road, Basty, Jalpaiguri- P.O & Dist. Coochbehar 735101 Pin 736 101 [PAN No.AAACU 9683 Q] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri S.K. Tulsiyan, Advocate आवेदक क" ओर से/By Assessee None राज"व क" ओर से/By Revenue 03-10-2017 सुनवाई क" तार"ख/…

DCIT, Cir-2, Jalpaiguri vs. M/S Uttar Banga Kshetriya Gramin Bank, Coochbihar

In the result, Revenue’s appeal is allowed partly for statistical purpose

ITA 707/KOL/2015[2010-2011]Status: DisposedITAT Kolkata08 Nov 2017AY 2010-2011

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 143(3)Section 194HSection 194JSection 36(1)Section 36(1)(viia)

…आयकर अपील"य अधीकरण, "यायपीठ – “B” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “B” KOLKATA Before Shri Aby.T Varkey, Judicial Member and Shri Waseem Ahmed, Accountant Member ITA No.707-708/Kol/2015 Assessment Years:2011-12 & 2012-13 DCIT, Circle-2, V/s. M/s Uttar Banga 2nd Floor, C.R. Building, Kshetriya Grami Bank, Race Coure Para, Naya Head Office, Sunity Road, Basty, Jalpaiguri- P.O & Dist. Coochbehar 735101 Pin 736 101 [PAN No.AAACU 9683 Q] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri S.K. Tulsiyan, Advocate आवेदक क" ओर से/By Assessee None राज"व क" ओर से/By Revenue 03-10-2017 सुनवाई क" तार"ख/…

Valueline Equities P.Ltd, Mumbai vs. ITO 4(2)(2), Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 4/MUM/2016[2010-11]Status: DisposedITAT Mumbai25 Oct 2017AY 2010-11

Bench: S/Shri B.R. Baskaran (Am) & Amarjit Singh (Jm)

Section 14A

…survey operations. The same is supported by the fact that the assessee has paid advance tax subsequent to the survey operations. She further submitted that the Hon’ble Delhi High Court has held in the case of Jansampark Advertising & Marketing (P) Ltd (2015)(375 ITR 373) has held that the, in the event of AO failing to discharge his functions properly, obligation to conduct proper enquiry on facts would shift to the door of CIT(A)/Tribunal, since they are also forums of fact finding. Accordingly she submitted that the lacunae, if any, of the AO should be corrected by the Tribunal by ordering for further enquirie…

ACIT, New Delhi vs. M/S. K.P. Pouches Pvt. Ltd., New Delhi

In the result appeal filed by the revenue for assessment year 2007-08 in ITA

ITA 904/DEL/2014[2005-06]Status: DisposedITAT Delhi16 Oct 2017AY 2005-06

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi

For Appellant: Shri RS Singhvi, CAFor Respondent: Shri Vijay Varma, CIT DR
Section 132Section 153Section 153ASection 153CSection 250(4)

…/2016 Assessment Year: 2005-06 to 2007-08 ACIT Vs. KP Pouches Pvt. Ltd, Rejoinder of the revenue 15. The Ld. CIT DR the placed reliance on the decision of the Hon‟ble Delhi High Court in case of CIT versus Jansampark advertising and marketing private limited 375 ITR 373 stating that if the Ld. assessing officer has failed to do something that it is the duty of the coordinate bench to make further enquiry and decide the issue. Reasons and Decision 16. We have carefully considered the rival contentions and also perused the paper book filed by both the parties. We also perused the orders of the lower authorities on…

DCIT, Cir-2(1), Kolkata vs. M/S Outotec Gmbh, Kolkata

In the result, the appeal filed by the Revenue ( in ITA No

ITA 193/KOL/2016[2012-2013]Status: DisposedITAT Kolkata08 Sept 2017AY 2012-2013

Bench: Shri N. C. Vasudevan, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.160/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 Outotec Gmbh Vs. D.C.I.T., International C/O Outotec India Private Ltd., Taxation-2(1), Kolkata 12Th Floor, South City Pinnacle, Plot- Aayakar Bhawan Xi, Block-Ep, Sector-V, Salt Lake, Kolkata – 700 091. Poorva,110 Shanti Pally, Kolkata-700107 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaco 8228 K (Appellant/Assessee) .. (Respondent/Department) आयकर अपील सं./Ita No.193/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 D.C.I.T., International Vs. Outotec Gmbh Taxation-2(1), Kolkata Aayakar Bhawan Poorva,110 C/O Outotec India Private Ltd., Shanti Pally, Kolkata-700107 12Th Floor, South City Pinnacle, Plot-Xi, Block-Ep, Sector-V, Salt Lake, Kolkata – 700 091. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaco 8228 K (Appellant/Department) .. (Respondent/Assessee) Department By : Shri G. Mallikarjuna, Cit Dr. Assessee By : Subhabrata Mukherjee, Ar & Soumyadip Roy Choudhury, Ar सुनवाई क" तारीख / Date Of Hearing : 10/07/2017 घोषणा क" तारीख/Date Of Pronouncement : 08/09/2017

For Appellant: Subhabrata Mukherjee, AR &For Respondent: Shri G. Mallikarjuna, CIT DR
Section 143(2)Section 143(3)Section 144CSection 209Section 234ASection 234B

…iry, it was incumbent upon DRP to return a correct finding of facts by making appropriate enquiry or getting such inquiry conducted in view of the law laid down by Hon’ble Delhi Court in CIT v. Janasampark Advertising and Marketing (2015) 231 Taxman 384 (Del)/375 ITR 373 (Del) and having not done so, the direction of DRP is bad in law and should be set aside. iii).The department craves leave to raise any additional ground at the time of hearing. 10.1 The brief facts qua the issue are that the assessee has supplied equipments to several Indian Customers during the year under consideration relating to steel industr…

Outotec Gmbh, Kolkata vs. The DCIT, It - 2(1), Kolkata

In the result, the appeal filed by the Revenue ( in ITA No

ITA 160/KOL/2016[2012-2013]Status: DisposedITAT Kolkata08 Sept 2017AY 2012-2013

Bench: Shri N. C. Vasudevan, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.160/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 Outotec Gmbh Vs. D.C.I.T., International C/O Outotec India Private Ltd., Taxation-2(1), Kolkata 12Th Floor, South City Pinnacle, Plot- Aayakar Bhawan Xi, Block-Ep, Sector-V, Salt Lake, Kolkata – 700 091. Poorva,110 Shanti Pally, Kolkata-700107 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaco 8228 K (Appellant/Assessee) .. (Respondent/Department) आयकर अपील सं./Ita No.193/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 D.C.I.T., International Vs. Outotec Gmbh Taxation-2(1), Kolkata Aayakar Bhawan Poorva,110 C/O Outotec India Private Ltd., Shanti Pally, Kolkata-700107 12Th Floor, South City Pinnacle, Plot-Xi, Block-Ep, Sector-V, Salt Lake, Kolkata – 700 091. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaco 8228 K (Appellant/Department) .. (Respondent/Assessee) Department By : Shri G. Mallikarjuna, Cit Dr. Assessee By : Subhabrata Mukherjee, Ar & Soumyadip Roy Choudhury, Ar सुनवाई क" तारीख / Date Of Hearing : 10/07/2017 घोषणा क" तारीख/Date Of Pronouncement : 08/09/2017

For Appellant: Subhabrata Mukherjee, AR &For Respondent: Shri G. Mallikarjuna, CIT DR
Section 143(2)Section 143(3)Section 144CSection 209Section 234ASection 234B

…iry, it was incumbent upon DRP to return a correct finding of facts by making appropriate enquiry or getting such inquiry conducted in view of the law laid down by Hon’ble Delhi Court in CIT v. Janasampark Advertising and Marketing (2015) 231 Taxman 384 (Del)/375 ITR 373 (Del) and having not done so, the direction of DRP is bad in law and should be set aside. iii).The department craves leave to raise any additional ground at the time of hearing. 10.1 The brief facts qua the issue are that the assessee has supplied equipments to several Indian Customers during the year under consideration relating to steel industr…

D.E. Shaw India Advisory Services Pvt. Ltd., New Delhi vs. DCIT, New Delhi

Appeals of the assessee stand partly allowed in terms of our specific observations and

ITA 1681/DEL/2015[2010-11]Status: DisposedITAT Delhi04 Sept 2017AY 2010-11

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastavaay: 2010-11 Ay: 2011-12 Ay: 2012-13 D.E. Shaw India Advisory Services Pvt. Ltd., Vs Dcit, E-20, 1St & 2Nd Floor, Circle 7(1), Main Market, Hauz Khas, New Delhi. New Delhi-110016 (Pan: Aabce6097P) (Appellant) (Respondent) Appellant By : Shri Kapil Hirani, Ca Shri Suresh Tolani, Adv. Shri Darpan Kirpalani Respondent By : Shri T.M. Shivakumar, Cit ( Dr)

For Appellant: Shri Kapil Hirani, CAFor Respondent: Shri T.M. Shivakumar, CIT ( DR)
Section 143(3)Section 144CSection 92D

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I-2’ NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AY: 2010-11 AY: 2011-12 AY: 2012-13 D.E. Shaw India Advisory Services Pvt. Ltd., vs DCIT, E-20, 1st & 2nd Floor, Circle 7(1), Main market, Hauz Khas, New Delhi. New Delhi-110016 (PAN: AABCE6097P) (Appellant) (Respondent) Appellant by : Shri Kapil Hirani, CA Shri Suresh Tolani, Adv. Shri Darpan Kirpalani Respondent by : Shri T.M. Shivakumar, CIT ( DR) PER SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER All these appeals have been preferred by the assessee against…

M/S D.E. Shaw India Advisory Services Pvt. Ltd., New Delhi vs. JCIT, New Delhi

Appeals of the assessee stand partly allowed in terms of our specific observations and

ITA 75/DEL/2017[2012-13]Status: DisposedITAT Delhi04 Sept 2017AY 2012-13

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastavaay: 2010-11 Ay: 2011-12 Ay: 2012-13 D.E. Shaw India Advisory Services Pvt. Ltd., Vs Dcit, E-20, 1St & 2Nd Floor, Circle 7(1), Main Market, Hauz Khas, New Delhi. New Delhi-110016 (Pan: Aabce6097P) (Appellant) (Respondent) Appellant By : Shri Kapil Hirani, Ca Shri Suresh Tolani, Adv. Shri Darpan Kirpalani Respondent By : Shri T.M. Shivakumar, Cit ( Dr)

For Appellant: Shri Kapil Hirani, CAFor Respondent: Shri T.M. Shivakumar, CIT ( DR)
Section 143(3)Section 144CSection 92D

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I-2’ NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AY: 2010-11 AY: 2011-12 AY: 2012-13 D.E. Shaw India Advisory Services Pvt. Ltd., vs DCIT, E-20, 1st & 2nd Floor, Circle 7(1), Main market, Hauz Khas, New Delhi. New Delhi-110016 (PAN: AABCE6097P) (Appellant) (Respondent) Appellant by : Shri Kapil Hirani, CA Shri Suresh Tolani, Adv. Shri Darpan Kirpalani Respondent by : Shri T.M. Shivakumar, CIT ( DR) PER SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER All these appeals have been preferred by the assessee against…

D.E. Shaw India Advisory Services Pvt. Ltd., New Delhi vs. DCIT, New Delhi

Appeals of the assessee stand partly allowed in terms of our specific observations and

ITA 1018/DEL/2016[2011-12]Status: DisposedITAT Delhi04 Sept 2017AY 2011-12

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastavaay: 2010-11 Ay: 2011-12 Ay: 2012-13 D.E. Shaw India Advisory Services Pvt. Ltd., Vs Dcit, E-20, 1St & 2Nd Floor, Circle 7(1), Main Market, Hauz Khas, New Delhi. New Delhi-110016 (Pan: Aabce6097P) (Appellant) (Respondent) Appellant By : Shri Kapil Hirani, Ca Shri Suresh Tolani, Adv. Shri Darpan Kirpalani Respondent By : Shri T.M. Shivakumar, Cit ( Dr)

For Appellant: Shri Kapil Hirani, CAFor Respondent: Shri T.M. Shivakumar, CIT ( DR)
Section 143(3)Section 144CSection 92D

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I-2’ NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AY: 2010-11 AY: 2011-12 AY: 2012-13 D.E. Shaw India Advisory Services Pvt. Ltd., vs DCIT, E-20, 1st & 2nd Floor, Circle 7(1), Main market, Hauz Khas, New Delhi. New Delhi-110016 (PAN: AABCE6097P) (Appellant) (Respondent) Appellant by : Shri Kapil Hirani, CA Shri Suresh Tolani, Adv. Shri Darpan Kirpalani Respondent by : Shri T.M. Shivakumar, CIT ( DR) PER SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER All these appeals have been preferred by the assessee against…

Kailashpati Overseas Pvt. Ltd., Delhi vs. ITO, New Delhi

In the result, the appeal is allowed for statistical purposes

ITA 1033/DEL/2013[2003-04]Status: DisposedITAT Delhi31 May 2017AY 2003-04

Bench: Shri R.S. Syal, Vice-Assessment Year : 2003-04 Kailashpati Overseas Pvt. Ltd., Vs. Ito, C/O Kapil Goel, Advocate, Ward 5(1), A-1/25, Sector-15, Rohini, New Delhi. Delhi. Pan : Aaack1244M

For Appellant: Shri Kapil Goel &For Respondent: Ms Bedobani, DR
Section 131Section 133(6)Section 142(1)Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : SMC : NEW DELHI BEFORE SHRI R.S. SYAL, VICE- PRESIDENT Assessment Year : 2003-04 Kailashpati Overseas Pvt. Ltd., Vs. ITO, C/o Kapil Goel, Advocate, Ward 5(1), A-1/25, Sector-15, Rohini, New Delhi. Delhi. PAN : AAACK1244M (Appellant) (Respondent) Appellant by : Shri Kapil Goel & Shri Mukul Gupta, Advocates Respondent by: Ms Bedobani, DR Date of Hearing : 30.05.2017 Date of Pronouncement: 31.05.2017 ORDER This appeal by the assessee is directed against the order passed by the CIT(A) on 17.01.2013 in relation to the assessment year 2003-04. 2. It is a recalled m…

Blue Diamond Infrastructure & Realty P.Ltd, Navi Mumbai vs. ACIT RG 10(3), Mumbai

In the result, both the appeals are allowed for statistical purposes

ITA 6176/MUM/2011[2008-09]Status: DisposedITAT Mumbai11 Jan 2017AY 2008-09

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year: 2008-09

Section 143(3)

…the transactions. Under these circumstances, this issue should be sent back to the file of the AO for proper examination. The reliance was placed on the judgment of Hon’ble Delhi High Court in the case of CIT v. Jansampark Advertising and Marketing Pvt. Ltd. 375 ITR 373 wherein it was held by the Hon’ble High Court that in case proper inquiries are not made by the lower authorities, then the issue of addition made u/s 68 should be sent back to the file of the AO for proper examination. 5.4. Per contra, Ld. Counsel of the assessee vehemently supported the order of Ld. CIT(A). He drew our attention upon the eviden…

Asst CIT 10(3), Mumbai vs. Blue Diamond Infrastructure & Reality P. Ltd, Navi Mumbai

In the result, both the appeals are allowed for statistical purposes

ITA 6119/MUM/2011[2008-09]Status: DisposedITAT Mumbai11 Jan 2017AY 2008-09

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year: 2008-09

Section 143(3)

…the transactions. Under these circumstances, this issue should be sent back to the file of the AO for proper examination. The reliance was placed on the judgment of Hon’ble Delhi High Court in the case of CIT v. Jansampark Advertising and Marketing Pvt. Ltd. 375 ITR 373 wherein it was held by the Hon’ble High Court that in case proper inquiries are not made by the lower authorities, then the issue of addition made u/s 68 should be sent back to the file of the AO for proper examination. 5.4. Per contra, Ld. Counsel of the assessee vehemently supported the order of Ld. CIT(A). He drew our attention upon the eviden…

M/S. Khatri Projects Pvt. Ltd., Delhi vs. ITO, Delhi

In the result, the appeal filed by the assessee is allowed

ITA 4353/DEL/2016[2007-08]Status: DisposedITAT Delhi16 Dec 2016AY 2007-08

Bench: Sh. N. K. Sainiita No. 4353/Del/2016 : Asstt. Year : 2007-08 M/S Khatri Projects Pvt. Ltd., Vs Income Tax Officer, A-2/106, Sector-16, Rohini, Ward-5(2), Delhi-110085 Delhi (Appellant) (Respondent) Pan No. Aacck7376A Assessee By : Sh. Vivek Bansal, Adv. Revenue By : Sh. Rajesh Kumar, Sr. Dr Date Of Hearing : 19.10.2016 Date Of Pronouncement : 16.12.2016 Order This Is An Appeal By The Assessee Against The Order Dated 30.05.2016 Of Ld. Cit(A)-36, New Delhi.

For Appellant: Sh. Vivek Bansal, AdvFor Respondent: Sh. Rajesh Kumar, Sr. DR
Section 139(1)Section 148Section 68

…the impugned transaction and the explanation rendered by the assessee. The Reliance was placed on the following judgment of the Hon’ble Jurisdictional High Court: " Nipun Builders & Developers (P) Ltd. 350 ITR 407 " Jansampark Advertising & Marketing (P) Ltd. 375 ITR 373 10. The ld. CIT(A) also referred to her decision in the case of Lam Holdings Pvt. Ltd. in Appeal No. Del/CIT(A)-5/0133/2013-14 and observed that the assessee had never sought an opportunity to cross examine the persons on whom the survey had been conducted and who had admitted to carry out operation of bank accounts in the name of fictitious comp…

Pr. Commissioner of Income Tax, Delhi- 9 vs. Trend Micro India Pvt. Ltd

ITA/447/2016HC Delhi26 Jul 2016

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE NAJMI WAZIRI

Section 147Section 92Section 92C

…ee had a remedy by filing an objection before the ITAT, the Revenue could not during the relevant AY, do so. It has been urged on the strength of the decision of this Court in Commission of Income Tax v. Jansampark Advertising and Marketing Limited (2015) 375 ITR 373 (Del) that in such circumstances it is incumbent upon the ITAT to exercise suo motu powers and in the interest of justice direct the exercise of TP adjustment to be undertaken afresh. 7. The Court is unable to agree with the above submissions. As rightly pointed out by the ITAT, the statutory scheme at the relevant time did not envis…

DCIT, New Delhi vs. M/S Ikea Trading (India) P Ltd., New Delhi

In the result, appeal of the revenue is dismissed

ITA 5393/DEL/2010[2005-06]Status: DisposedITAT Delhi02 Jun 2016AY 2005-06

Bench: Shri H.S. Sidhu & Shri Prashant Maharishi

For Appellant: S/Shri Salil KapoorFor Respondent: Shri T. Vasanthan, Sr DR

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: “C” NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA No: 5393/Del/2010 AY: - 2005-06 Dy. Commissioner of Income Tax, vs. M/s. Ikea Trading (India) P Ltd. Circle II (1), Room No. 312, C-16, Second Floor C-Block C.R. Building Market, Paschimi Marg, Vasant Vihar, New Delhi. PAN AAACI1483Q (Appellant) (Respondent) Department by : Shri T. Vasanthan, Sr DR Assessee by : S/Shri Salil Kapoor, Sumit Lal Chandani, Adv And Ms. Ananya Kapoor, Advocate Date of hearing : 8.3. 2016 Date of pronouncement: 02.06.20…