Vijayshree Food Products P.Ltd, New Delhi vs. ACIT, Central Circle-30, New Delhi
In the result, both these appeals are partly allowed
ITA 587/DEL/2019[2014-15]Status: DisposedITAT Delhi06 Dec 2021AY 2014-15
Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2014-15 Vijayshree Food Products P. Ltd., Vs. Acit, C/O Ravi Gupta, Advocate, Central Circle-30, E-6A, Kailash Colony, New Delhi. New Delhi. Pan: Aaccv4721C (Appellant) (Respondent) Assessee By : Shri P.C. Yadav, Advocate Revenue By : Shri Prakash Dubey, Sr.Dr Date Of Hearing : 09.09.2021 Date Of Pronouncement : 06.12.2021 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 28Th December, 2018 Of The Cit(A)-30, New Delhi, Relating To Assessment Year 2014-15. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Company Engaged In The Business Of Manufacturing & Export Of Tobacco Products. It Filed Its Return Of Income On 30Th September, 2014 Declaring The Loss Of Rs.18,78,467/-. The Return Was Processed U/S 143(1) Of The Act On 26Th November, 2014 At The Returned Income. Subsequently, The Ao Reopened The Assessment As Per The Provisions Of Section 147 Of The Act By Recording The Following Reasons:-
For Appellant: Shri P.C. Yadav, AdvocateFor Respondent: Shri Prakash Dubey, Sr.DR
Section 131Section 131(1)(d)Section 132Section 132(4)Section 143(1)Section 147Section 148Section 68
…by him in the reasons recorded. For the above proposition of mechanical approval, he relied on the following decisions:- 13 (A) Central India Electric Supply Co. Ltd vs . ITO (2011) 333 ITR 237 (Del.): 51 DTR 51 (Del.); (B) German Remedies Ltd. v. DCIT (2006) 287 ITR 494 (Bom.); (C) United Electrical Co. P. Ltd. v. CIT (2002) 258 ITR 317 (Del.); (D) CIT Vs Goyanka Lime 237 Taxman 378(SC); (E). CIT Vs N.C. Cables, 98 CCH 18 (Del); and (F) Chuga Mai Rajpal, 79 ITR 603(SC) Larger Bench. 11. Ld. Counsel for the assessee submitted that perusal of sequence of events would prove beyond doubt that AO has passed the fina…
