DCIT, New Delhi v. M/s International Trenching P. Ltd., New Delhi

ITA 46/DEL/2011 | 2006-2007
Pronouncement Date: 18-03-2011 | Result: Dismissed

Appeal Details

RSA Number 4620114 RSA 2011
Bench Delhi
Appeal Number ITA 46/DEL/2011
Duration Of Justice 2 month(s) 13 day(s)
Appellant DCIT, New Delhi
Respondent M/s International Trenching P. Ltd., New Delhi
Appeal Type Income Tax Appeal
Pronouncement Date 18-03-2011
Appeal Filed By Department
Order Result Dismissed
Bench Allotted C
Tribunal Order Date 18-03-2011
Date Of Final Hearing 14-03-2011
Next Hearing Date 14-03-2011
Assessment Year 2006-2007
Appeal Filed On 05-01-2011
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH C NEW DELHI) BEFORE SHRI I.P. BANSAL JUDICIAL MEMBER AND SHRI A.K. GARODIA ACCOUNTANT MEMBER I.T.A. NO.46/DEL/2011 ASSESSMENT YEAR : 2006-07 DCIT M/S INTERNATIONAL TRENCHING P. CIRCLE11 (1) LTD. 301-309 3 RD FLOOR NEW DELHI. V. VARDHMAN PLAZA-1 J-BLOCK RAJOURI GARDEN NEW DELHI. (APPELLANT) (RESPONDENT) PAN /GIR/NO. PAN /GIR/NO. PAN /GIR/NO. PAN /GIR/NO.AABCI AABCI AABCI AABCI- -- -0381 0381 0381 0381- -- -E EE E APPELLANT BY : SMT. MONA MOHANTY SR. DR. RESPONDENT BY : NONE. ORDER PER A.K. GARODIA AM: THIS IS REVENUE'S APPEAL FILED AGAINST THE ORDER OF LD CIT(A)-XV NEW DELHI DATED 13.10.2010 FOR ASSESSMENT YEAR 2006-07. 2. GROUNDS RAISED BY THE REVENUE ARE AS UNDER:- 1. THE ORDER OF LD CIT(A) IS WRONG PERVERSE ILLEGAL A ND AGAINST THE PROVISIONS OF LAW LIABLE TO BE SET ASIDE. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD CIT(A) HAS ERRED IN DELETING THE ADDITION OF `.10 00 000/- ON ACCOUNT OF INCOME FROM UNDISCLOSED SOURCE. 3. NONE APPEARED ON BEHALF OF THE ASSESSEE IN SPITE OF NOTICE AND HENCE WE HAVE HEARD THIS APPEAL EX PARTE QUA THE ASSESSE E. 4. LD DR OF THE REVENUE SUPPORTED THE ASSESSMENT ORDER. PAGE 2 OF 4 ITA NO../DEL/ 5. WE HAVE CONSIDERED THE SUBMISSIONS OF THE LD DR OF TH E REVENUE AND HAVE GONE THROUGH THE ORDERS OF THE AUTHORITIES B ELOW. WE FIND THAT IT IS NOTED BY THE ASSESSING OFFICER IN THE ASSESSMENT ORDER THAT DURING THIS YEAR THE ASSESSEE HAD RECEIVED SHARE APPLICA TION MONEY TO THE EXTENT OF `.45 LAKHS. IT IS ALSO NOTED BY THE ASSESSI NG OFFICER THAT THE ASSESSEE WAS ASKED TO FURNISH CONFIRMATION FROM DEPOSIT ORS AND PROVE THEIR CREDITWORTHINESS. IT IS FURTHER NOTED BY T HE ASSESSING OFFICER THAT THE AR OF THE ASSESSEE HAD ATTENDED AND COULD NOT FURNISH ANY CONFIRMATION IN RESPECT OF SHARE APPLICATION MONEY RE CEIVED FROM MRS. IQBAL KAUR FROM WHOM AN AMOUNT OF `.10 LAKHS HAS BEEN RECEIVED ON ACCOUNT OF SHARE APPLICATION MONEY. THE ASSESSING OFFICE R MADE ADDITION OF THIS AMOUNT OF `.10 LAKHS. BEING AGGRIEVE D THE ASSESSEE CARRIED THE MATTER IN APPEAL BEFORE LD CIT (A). BEF ORE LD CIT(A) THE ASSESSEE HAD FILED A CONFIRMATORY LETTER FROM SMT. IQBA L KAUR AND MADE AN APPLICATION UNDER RULE 46A OF THE IT RULES REQUEST ING FOR ADMISSION OF ADDITIONAL EVIDENCE. LD CIT(A) HAD OBTAINED REMA ND REPORT FROM THE ASSESSING OFFICER REGARDING ADDITIONAL EVIDENCE. RELEVA NT PORTION OF THE REMAND REPORT DATED 16.7.2010 HAD BEEN REPRODUC ED BY THE LD CIT(A) ON PAGE NO.2 OF HIS ORDER. IT HAS BEEN REPORTE D BY THE ASSESSING OFFICER IN THE REMAND REPORT THAT HIS PREDECESSOR HAD SENT A LETTER ON 27.4.2009 TO MRS. IQBAL KAUR FOR SUBMITTING CONFIRMAT ION REGARDING GIVING A SUM OF `.10 LAKHS TO THE ASSESSEE COMPANY. IT IS FURTHER REPORTED BY THE ASSESSING OFFICER IN THE REMAND REPORT THAT THE ASSESSEE HAS SUBMITTED SUBMISSION ON 15.5.2009 ALONG WITH CONFIRMATION LETTER OF PUNJAB & SIND BANK. IT HAS BE EN REPORTED BY THE BANK THAT CHEQUE NO. 744101 DATED 15.2.2006 FAVOURI NG THE ASSESSEE COMPANY OF `.10 LAKHS WAS PRESENTED IN CLEARING ON 17. 2.2006 AND THE SAME WAS CLEARED/PASSED BY DEBITING THE ACCOUNT OF MRS. IQBAL KAUR SETHI. IT IS FURTHER NOTED BY THE LD CIT(A) THAT THE ASSESSING OFFICER HAS SUBMITTED THAT THIS EVIDENCE MAY BE ADMITTED. LD CIT( A) HAS ADMITTED PAGE 3 OF 4 ITA NO../DEL/ THIS ADDITIONAL EVIDENCE. IT IS ALSO NOTED BY LD CIT(A ) THAT IN THE CONFIRMATION LETTER THERE IS PAN NUMBER OF MRS. IQBA L KAUR. UNDER THESE FACTS WE ARE SATISFIED THAT THE ASSESSEE HAS BEEN ABL E TO ESTABLISH THE IDENTITY AND CREDITWORTHINESS AND GENUINE NESS OF THE TRANSACTION AND HENCE THE ADDITION MADE BY THE ASSESSIN G OFFICER HAS BEEN RIGHTLY DELETED BY THE LD CIT(A) BY FOLLOWING THE JUDGMENT OF HON'BLE APEX COURT RENDERED IN THE CASE OF LOVELY EX PORTS (P) LTD. AS REPORTED IN 216 CTR 195. LD DR OF THE REVENUE COUL D NOT POINT OUT ANY MISTAKE IN THIS ORDER OF LD CIT(A) AND CONSIDERING ALL THESE FACTS AS DISCUSSED ABOVE WE DO NOT FIND ANY SPECIFIC REASON TO INTERFERE IN THE ORDER OF LD CIT(A). WE THEREFORE CONFIRM THE SAME . 6. IN THE RESULT THE APPEAL OF THE REVENUE IS DISMISSED . 7. ORDER PRONOUNCED IN THE OPEN COURT ON THE DAY OF 18TH MARCH 2011. SD/- SD/- (I.P. BANSAL) (A.K. GAR ODIA) JUDICIAL MEMBER ACCOUNTANT MEMBER DT. 18 .3.2011. HMS COPY FORWARDED TO:- 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT (A)- NEW DELHI. 5. THE DR ITAT LOKNAYAK BHAWAN KHAN MARKET NEW DEL HI. TRUE COPY. BY ORDER (ITAT NEW DELHI). PAGE 4 OF 4 ITA NO../DEL/