Principal Commissioner of Income Tax Central-3 Delhi v. Alchemist Capital Ltd

1. These are applications filed on behalf of the applicant/appellant/revenue seeking condonation of delay in filing and refiling the appeal. 1.[1] According to the applicant/appellant/revenue, there is a delay of 3 days in filing and 55 days in re-filing the appeal.

2. For the reasons given in the applications, the delay is condoned.

3. The applications are disposed of in the aforesaid terms.

4. This appeal concerns Assessment Year (AY) 2010-2011.

5. The appellant/revenue seeks to assail the order dated 18.08.2022 passed by the Income Tax Appellate Tribunal [in short, “Tribunal”].

6. Mr Abhishek Maratha, learned senior standing counsel, who appears on behalf of the appellant/revenue, says that the assessment qua the respondent/assessee was made under Section 153A of the Income Tax Act, 1961 [in short, “the Act”].

7. The record shows, that the Commissioner of Income Tax (Appeals), however, deleted an addition amounting to Rs.6,59,27,495/- inter alia, on the ground that no incriminating material was found qua the respondent/assessee.

8. In fairness, Mr Maratha has brought to our notice, the order dated 30.08.2022 passed in ITA 289/2022 titled Principal Commissioner of Income Tax Central-3 Delhi v. Alchemist Capital Ltd. concerning the AY 2009-2010.

9. In the said appeal, the very same issue arose for consideration. The coordinate bench via the said judgment dismissed the appeal, in view of the finding returned qua the assessment year in issue and the judgment of the coordinate bench in Principal Commissioner of Income Tax vs. Bhadani Financiers Pvt. Ltd. 2021 SCC OnLine Del 4430.

10. According to us, no substantial question of law arises for consideration.

11. The appeal is, accordingly, closed.

RAJIV SHAKDHER, J GIRISH KATHPALIA, J MAY 3, 2023/ tr