Delhi High Court - Orders
Re-Filing) Pr. Commissioner Of Income ... vs M/S Gragerious Projects Pvt. Ltd on 2 February, 2021
Author: Rajiv Sahai Endlaw
Bench: Rajiv Sahai Endlaw, Sanjeev Narula
$~3
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ ITA 90/2020 & CM APPL. 5410/2020 (for condonation of delay in
re-filing)
PR. COMMISSIONER OF INCOME TAX - 04 ..... Appellant
Through: Mr. Zoheb Hossain, Senior Standing
Counsel.
versus
M/S GRAGERIOUS PROJECTS PVT. LTD. ..... Respondent
Through: None.
CORAM:
HON'BLE MR. JUSTICE RAJIV SAHAI ENDLAW
HON'BLE MR. JUSTICE SANJEEV NARULA
ORDER
% 02.02.2021 [VIA VIDEO CONFERENCING]
1. The present appeal under Section 260A of the Income Tax Act, 1961, is directed against the order dated 29th May, 2019 passed by the Income Tax Appellate Tribunal ('ITAT') whereby the appeal of the Respondent-Assessee has been allowed and consequently the penalty imposed under Section 271(1)(c) of the Act has been deleted.
2. Mr. Zoheb Hossain, learned Senior Standing Counsel appearing for the Appellant-Revenue, inter alia contends that during the assessment proceedings of the Respondent-Assessee, an addition of Rs. 5,00,00,000/- was made on account of alleged advance given to M/s TAIDIA Construction which was written off in the year under consideration. He submits this was a ITA 90/2020 Page 1 of 2 bogus claim in the return and thereafter during the course of assessment, when the authorized representative of the Respondent-Assessee was confronted with this he did not have any cogent explanation to substantiate the basis of writing off of the advance of Rs. 5,00,00,000/- with supporting documents. This establishes that the Respondent-Assessee had given inaccurate particulars of the income under assessment. He further submits that the learned ITAT has misdirected itself by taking a hyper-technical view that there is no specific charge in the notice for which penalty has been imposed. He argues that the purport and import of the notice issued under Section 274 read with Section 271 of the Act is clearly discernible from the assessment order and the AO recorded the necessary satisfaction to initiate penalty proceedings.
3. Issue notice to the Respondent by all permissible modes, returnable on 27th May, 2021.
RAJIV SAHAI ENDLAW, J SANJEEV NARULA, J FEBRUARY 2, 2021 nd ITA 90/2020 Page 2 of 2