TMI Blog2015 (12) TMI 127X X X X Extracts X X X X X X X X Extracts X X X X ..... ck to the file of A.O. for making assessment afresh after affording proper opportunity of being heard to the assessee in accordance with the Act. - Decided in favour of assessee for statistical purposes - ITA No. 2533 /Del/2013 - - - Dated:- 23-9-2015 - Inturi Rama Rao, AM And Kuldip Singh, JM For the Petitioner : Shri Neeraj Jain, CA For the Respondent : Shri P Dam Kanunjna, Sr. DR ORDER Per Kuldip Singh Appellant M/s. Next Wave India (A.O.) by filing the present appeal, sought to set aside the impugned order dated 29.01.2013 passed by Ld. CIT(A) XXVII, New Delhi for the Assessment Year 2004-05 on the grounds inter alia that: 1. That the order of the learned Commissioner of Income-tax (Appeals) is bad in law ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m 2D on 03.10.2011 declaring an income of ₹ 35,271/- and thereafter, notices u/s 143(2) and 142(1) were issued on 06.12.2011 and consequently, Shri S. K. Narang, CA/ AR of the assessee attended the proceedings, filed necessary details and explanation and the case was discussed with him. 3. Present return of income has been filed in the name and style of M/s. Next Wave India (A.O.P) and Shri Bharat Bhushan and Smt. Renu Bhushan came into existence and the return in the capacity of AOP has been filed. ITO, Ward 13(2), wrote a letter along with a copy of MOU signed by Shri Bharat Bhushan and Smt. Renu Bhushan and a copy of statement of Shri Bharat Bhushan was recorded by him. 4. Pursuant to the inquiries conducted by Investigation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The relevant clause NO.2 of the Memorandum of Understanding states as under: That the First Party declare and own in the capacity of an Association of Persons, before the income Tax Authorities who are assessing Nextwave, all the transactions done by it under the name of Nextwave and shall therefore be solely and exclusively liable for any income tax, interest and penalties and any other liability financial or otherwise arising out of such transactions. For this purpose the First Party shall provide its assessment particulars and all other informations as may be required by the income Tax Authorities assessing Nextwave. The First Party shall also execute such affidavits/understandings/declarations/documents as may be required by such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore, the assessee has explained the identity, genuineness and creditworthiness of the person from whom the money has been received but the A.O. as well as Ld. CIT(A) have passed the impugned orders arbitrarily; that an identical issue in a similar mater has been decided by ITAT, Delhi Benches E Bench, New Delhi in the case of Next Wave India (AOP) and Next Wave India (P) Ltd. Vs ITO, New Delhi for the Assessment Years 2002-03, 2003-04 and 2004-05 vide order dated 25.01.2012 in assessee s own case. 9. On the other hand Ld. D.R. relied upon the order of Ld. CIT(A) and prayed for dismissal of appeal. 10. We have heard Ld. Authorized Representatives of both the parties and gone through the documents relied upon in the light of facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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