Green Valley Infracity (P) Ltd. v. ITO

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The Tax PublishersI.T.A. No. 2110/Del/2019 2020 TaxPub(DT) 1496 (Del-Trib) : (2020) 207 TTJ 0339 IN THE ITAT, DELHI BENCH H.S. SIDHU, J.M. Green Valley Infracity (P) Ltd. v. ITO I.T.A. No. 2110/Del/2019 2 March, 2020 Assessee by: Sunil Kumar Tyagi, CA Department by: Pradeep Singh Gautam, Sr. D.R. ORDER This appeal filed by the assessee is directed against the order passed by the learned Commissioner (Appeals)-I, Noida on 29-10-2019 in relation to the assessment year 2012-13. 2. The brief facts of the case are that assessee filed its return income for the assessment year 2012-13 declaring income at Rs. NIL on 31-3-2014. Later on, the case of the assessee was selected for scrutiny and accordingly, notice under section 143(2) of the Income Tax Act, 1961 (in short 'Act') dated 3-9-2014 was issued and served upon the assessee. Thereafter queries, notices under section 142(1) of the Act were issued and served. In response to the same, the A.R. of the assessee appeared and produced the books of accounts, balance sheet & its schedule, P&L account, other details and explanation and the same was test checked. 2.1 The assessee company is a Private Limited Company engaged in the business of real estate development. During the course of assessment proceedings, assessee could not produce the confirmation of balances from 4 creditors in the balance sheet as on 31-3-2012 amounting to Rs. 6,21,454, i.e., in respect of (i) M/s. Megicle India Tour Rs. 1,33,704 (ii) M/s. Gromor Food Nursery Rs. 2,16,600 (iii) M/s. TZ Enterprises Rs. 1,40,000 and (iv) M/s. Wing Travels Rs. 1,31,150. Assessee submitted certain account statement in support of sundry creditors, but could not produce supporting bills amounting to Rs. 2,345,750, i.e., in respect of (i) Neutral Publication Home Limited Rs. 1,34,750 and (ii) Sahara India Mass Communication Rs. 1,00,000. During the assessment year the assessee has shown the addition on account of generator set amounting to Rs. 2,38,000 and the same was reflected under the head 'Plant & Machinery'. Assessee was unable to produce the bill of such addition and in the absence of the documentary evidences of this addition amounting to Rs. 2.38 lacs, the assessing officer added the same to the income of the assessee, after considering all the details and documents filed by the assessee. The assessing officer finally computed the total income of the assessee amounting to Rs. 6,00,200 by disallowing the sundry creditors as discussed in para 2 to 4 of the assessment order and completed the assessment under section 143(3) of the Act vide Order, dated 27-3-2015. Aggrieved with the assessment order, the assessee filed the appeal before the learned Commissioner (Appeals), who vide his earlier Order, dated 27-9-2016 enhanced the income of the assessee by Rs. 4,94,001 under section 69C of the Income Tax Act, 1961 by Rs. 12,75,00,000 under section 68 of the Act and by Rs. 20,49,08002 under section 69 of the Income Tax Act, 1961 and computed the total income of Rs. 33,35,52,203 and directed the assessing officer to issue the necessary demand and penalty notice, as per law. Aggrieved by the learned Commissioner (Appeals)'s earlier Order, dated 27-9-2016, assessee appealed before the Tribunal and the Tribunal vide its Order, dated 31-5-2018 passed in ITA No. 6272/Del/2016, after hearing both the parties, set aside the issues in dispute to the learned Commissioner (Appeals) to decide the same in dispute afresh, after considering the evidences filed by the assessee as discussed in Tribunal's Order, dated 31-5-2018, i.e., the assessee's paper book containing page 1-518 and provide adequate opportunity of being heard to the assessee for substantiating its claim. The Bench also directed the assessee to submit all the documentary evidences before the learned Commissioner (Appeals) in order to substantiate its claim. SUBSCRIBE FOR FULL CONTENT

The Tax PublishersI.T.A. No. 2110/Del/2019
2020 TaxPub(DT) 1496 (Del-Trib) : (2020) 207 TTJ 0339

IN THE ITAT, DELHI BENCH

H.S. SIDHU, J.M.

Green Valley Infracity (P) Ltd. v. ITO

I.T.A. No. 2110/Del/2019

2 March, 2020

Assessee by: Sunil Kumar Tyagi, CA

Department by: Pradeep Singh Gautam, Sr. D.R.

ORDER

This appeal filed by the assessee is directed against the order passed by the learned Commissioner (Appeals)-I, Noida on 29-10-2019 in relation to the assessment year 2012-13.

2. The brief facts of the case are that assessee filed its return income for the assessment year 2012-13 declaring income at Rs. NIL on 31-3-2014. Later on, the case of the assessee was selected for scrutiny and accordingly, notice under section 143(2) of the Income Tax Act, 1961 (in short 'Act') dated 3-9-2014 was issued and served upon the assessee. Thereafter queries, notices under section 142(1) of the Act were issued and served. In response to the same, the A.R. of the assessee appeared and produced the books of accounts, balance sheet & its schedule, P&L account, other details and explanation and the same was test checked.

2.1 The assessee company is a Private Limited Company engaged in the business of real estate development. During the course of assessment proceedings, assessee could not produce the confirmation of balances from 4 creditors in the balance sheet as on 31-3-2012 amounting to Rs. 6,21,454, i.e., in respect of (i) M/s. Megicle India Tour Rs. 1,33,704 (ii) M/s. Gromor Food Nursery Rs. 2,16,600 (iii) M/s. TZ Enterprises Rs. 1,40,000 and (iv) M/s. Wing Travels Rs. 1,31,150. Assessee submitted certain account statement in support of sundry creditors, but could not produce supporting bills amounting to Rs. 2,345,750, i.e., in respect of (i) Neutral Publication Home Limited Rs. 1,34,750 and (ii) Sahara India Mass Communication Rs. 1,00,000. During the assessment year the assessee has shown the addition on account of generator set amounting to Rs. 2,38,000 and the same was reflected under the head 'Plant & Machinery'. Assessee was unable to produce the bill of such addition and in the absence of the documentary evidences of this addition amounting to Rs. 2.38 lacs, the assessing officer added the same to the income of the assessee, after considering all the details and documents filed by the assessee. The assessing officer finally computed the total income of the assessee amounting to Rs. 6,00,200 by disallowing the sundry creditors as discussed in para 2 to 4 of the assessment order and completed the assessment under section 143(3) of the Act vide Order, dated 27-3-2015. Aggrieved with the assessment order, the assessee filed the appeal before the learned Commissioner (Appeals), who vide his earlier Order, dated 27-9-2016 enhanced the income of the assessee by Rs. 4,94,001 under section 69C of the Income Tax Act, 1961 by Rs. 12,75,00,000 under section 68 of the Act and by Rs. 20,49,08002 under section 69 of the Income Tax Act, 1961 and computed the total income of Rs. 33,35,52,203 and directed the assessing officer to issue the necessary demand and penalty notice, as per law. Aggrieved by the learned Commissioner (Appeals)'s earlier Order, dated 27-9-2016, assessee appealed before the Tribunal and the Tribunal vide its Order, dated 31-5-2018 passed in ITA No. 6272/Del/2016, after hearing both the parties, set aside the issues in dispute to the learned Commissioner (Appeals) to decide the same in dispute afresh, after considering the evidences filed by the assessee as discussed in Tribunal's Order, dated 31-5-2018, i.e., the assessee's paper book containing page 1-518 and provide adequate opportunity of being heard to the assessee for substantiating its claim. The Bench also directed the assessee to submit all the documentary evidences before the learned Commissioner (Appeals) in order to substantiate its claim.