M/S. Nilay Infrastructure (P) Ltd., New Delhi vs. DCIT, New Delhi
The appeal is allowed
ITA 5297/DEL/2013[2007-08]Status: DisposedITAT Delhi10 Jun 2016AY 2007-08
Bench: Shri I.C. Sudhir & Shri Prashant Maharishi Assessment Year: 2007-08 Nilay Infrastructure (P) Ltd., Vs. Dcit, C/O. M/S. Rpa Taxindia, Central Circle-4, D-28, South Extension, Part-I, New Delhi. New Delhi. (Pan: Aaffn8381E) (Appellant) (Respondent) Assessee By: Dr. Rakesh Gupta & Sh. Somil Aggarwal, Adv. Department By: Smt. Renuka Jain Gupta, Cit( Dr) Date Of Hearing : 09 .06.2016 Date Of Pronouncement: 10 :06.2016 Order Per I.C. Sudhir:The Assessee Has Questioned First Appellate Order On The Following Grounds: 1. That Having Regard To The Facts & Circumstances Of The Case, Learned Cit(Appeals) Has Erred In Law & On Facts In Confirming The Action Of The Ld. A.O. In Framing The Impugned Assessment Order U/S. 153A/143(3) Without Assuming Jurisdiction As Per Law & Without Obtaining Requisite Approval As Per Law & Without Complying With The Other Mandatory Condition Envisaged Under The Act, More So When No Incriminating Material Have Been Found As A Result Of Search.
For Appellant: Dr. Rakesh Gupta & Sh. SomilFor Respondent: Smt. Renuka Jain Gupta, CIT( DR)
Section 139(1)Section 153ASection 40A(3)
…ntention in the present case. She reiterated that return processed under sec. 143(1) of the Act cannot be termed as assessment order. In this regard, she placed reliance on the decision of Hon'ble Delhi High Court in the case of CIT vs. Punjab National Bank – 249 ITR 763. She submitted that provisions laid down under sec. 153A will come in operation only when the return originally filed and processed under sec. 143(1) is treated as assessment. 8. Considering the above submissions especially ratios laid down in its recent decision of Hon'ble jurisdictional High Court of Delhi in the case of Kabul Chawla (supra),…
