M/s. Sunrays Properties & Investment Co. Pvt. Ltd., New Delhi v. ITO, New Delhi

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: G: NEW DELHI BEFORE SHRI G.D. AGRAWAL VICE PRESIDENT AND SHRI I. C. SUDHIR JU DICIAL MEMBER ITA NO. 3419/DEL/2010 ASSESSMENT YEAR: 2002-03 SUNRAYS PROPERTIES & INVESTMENT VS. ITO CO. PVT. LTD. WARD-9 (3) 414/1 4 TH FLOOR DDA COMM. COMPLEX NEW DELHI DISTT CENTER JANAK PURI NEW DELHI AAACS3655C (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI ANOOP SHARMA ADV RESPONDENT BY : MS. Y. S. KAKKAR SR DR ORDER PER I.C. SUDHIR JUDICIAL MEMBER THE FIRST APPELLATE ORDER HAS BEEN Q UESTIONED ON SEVERAL GROUNDS BY THE ASSESSSEE. ASSESSEES ONE OF THE GRIEVANCES IS THA T THE LD. CIT (A) HAS NOT CONSIDERED GROUND NO. 2 RAISED BEFORE HER QUESTIONI NG THE VALIDITY OF RE-OPENING OF THE ASSESSMENT FRAMED U/S 147 OF THE ACT. 2. HAVING GONE THROUGH THE FIRST APPELLATE OR DER WE FIND SUBSTANCE IN THE CONTENTION OF THE LD. AR IN SUPPORT OF GROUND NO. 2 RAISED BEFORE US THAT THE FIRST APPELLATE AUTHORITY HAS NOT CONSIDERED THE ABOVE ST ATED GROUND NO. 2 RAISED BEFORE IT QUESTIONING THE VALIDITY OF RE-OPENING OF THE ASSES SMENT U/S 147 OF THE ACT. WE THUS IN THE INTEREST OF JUSTICE SET ASIDE THE MATTER TO THE FILE OF THE LD. CIT(A) WITH THIS ITA NO. 3419/DEL/2010 2 DIRECTION TO ADJUDICATE UPON THIS GROUND RAISED BEF ORE HER AFTER AFFORDING OPPORTUNITY OF BEING HEARD TO THE PARTIES. SO FAR AS OTHER GR OUNDS I.E. GROUND NOS. 3 TO 5 RAISED BEFORE THE TRIBUNAL ARE CONCERNED. IN THESE GROUND S THE ASSESSEE HAS QUESTIONED UPHOLDING OF DISALLOWANCE OF RS.36 00 000/- IN RESP ECT OF THE AMOUNTS RECEIVED BY THE COMPANY ON ACCOUNT OF SALES OF SHARES FROM RAJS HRI MARKETING AND SERVICES PVT. LTD AND STAR GARMENTS PVT. LTD DOUBTING THE GENUINE NESS OF THE TRANSACTIONS; AND CONFIRMING THE ADDITION OF RS.70 26 270/- MADE BY T HE ASSESSING OFFICER U/S 14A OF THE ACT INVOKING THE PROVISIONS OF RULE 8D OF THE I .T RULES AS WELL. SINCE THE FIRST APPEAL QUESTIONING THESE ACTIONS OF THE AO HAS BEEN DISPOSED OF BY THE LD. CIT (A) EX-PARTE THESE ARE ALSO SET ASIDE TO THE FILE OF T HE LD. CIT (A) TO DECIDE THESE ISSUES AFRESH AFTER AFFORDING OPPORTUNITY OF BEING HEARD T O THE PARTIES. THE GROUND NO. 1 IS GENERAL IN NATURE HENCE DOES NOT NEED ADJUDICATION AND THE REMAINING GROUND NOS. 2 TO 5 ARE RAISED BEFORE US ARE ALLOWED FOR STATIST ICAL PURPOSES. 3. IN RESULT APPEAL IS ALLOWED FOR STATIST ICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 31 ST OCTOBER 2013. SD/- SD/- (G.D. AGRAWAL) ( I.C. SUDHIR ) VICE PRESIDENT JUDICIAL MEMBER DATE 31 ST OCTOBER 2013 R.NAHEED COPY OF ORDER FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT(A) 4. CIT 5. DR BY ORD ER DEPUTY REGISTRAR ITAT NEW DELHI ITA NO. 3419/DEL/2010 3 ITA NO. 3419/DEL/2010 4