Full Text
HIGH COURT OF DELHI
Date of Decision: 08.05.2023
PR. COMMISSIONER OF INCOME TAX -CENTRAL-1 ..... Appellant
Through: Mr Ruchir Bhatia, Sr. Standing counsel with Shri Pratyakash Gupta, Advocate
Through: None
HON'BLE MR. JUSTICE GIRISH KATHPALIA [Physical Hearing/Hybrid Hearing (as per request)]
RAJIV SHAKDHER, J.: (ORAL)
JUDGMENT
1. This is an application moved on behalf of the appellant/revenue seeking condonation of delay in re-filing the appeal. 1.[1] According to the appellant/revenue, there is a delay of 300 days.
2. For the reasons given in the application, the delay is condoned.
3. The application is disposed of, in the aforesaid terms. ITA 262/2023
4. This appeal concerns Assessment Year (AY) 2008-09.
5. The appellant/revenue seeks to assail the order dated 25.03.2021 passed by the Income Tax Appellate Tribunal [in short “the Tribunal”].
6. Learned counsel for the appellant/revenue says that the issue raised in the present appeal is covered by the judgment of the coordinate bench dated 18.09.2017 passed in ITA No. 603/2017.
7. We may note that the only issue which arises in the present appeal concerns addition made on account of unexplained credit found in the books of the ITA 262/2023 Pg. 2 of 2 respondent/assessee qua share application money. 7.[1] The amount was sought to be added by the Assessing Officer(AO) under Section 68 of the Income Tax Act, 1961 [in short „the Act‟]. The amount was quantified at Rs.30,00,00,000/-.
8. An order was passed, in the first instance, by the Assessing Officer (AO) on 31.03.2014, by framing an assessment order under Section 143(3) of the Act.
9. The Commissioner of Income Tax(CIT), in exercise of his powers under Section 263 of the Act, via order dated 02.03.2016 set aside the said order.
10. This resulted in the AO passing the second assessment order dated 26.12.2016.
11. However, the Tribunal via order dated 31.01.2017 set aside the order dated 02.03.2016 passed by the CIT, referred to above, under Section 263 of the Act.
12. It is an appeal against this order, which was preferred by the appellant/revenue, that was dismissed by a coordinate bench of this court via order dated 18.09.2017 passed in ITA No. 603/2017.
13. Via the impugned order, the Tribunal has, thus, set aside, in effect, the second assessment order dated 26.12.2016.
14. Thus, having regard to the aforesaid facts and circumstances of this case, according to us, no substantial question of law arises for consideration.
15. The appeal is, accordingly, closed.
17. The Registry will dispatch a copy of the order to the respondent/assessee at the address given in the memo of parties.
(RAJIV SHAKDHER) JUDGE (GIRISH KATHPALIA) JUDGE 8th MAY, 2023 / as