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2016 (7) TMI 578 - ITAT DELHI

2016 (7) TMI 578 - ITAT DELHI - TMI - Validity of reopening of assessment against defunct company - Held that:- Admittedly assessee had not given information to AO in terms of section 176 of the I.T. Act when it had applied to ROC on 29.12.2003. However, when the notice u/s 148 was issued on 24.3.2006, then vide its reply dated 5.4.2006 this fact was specifically brought to the notice of AO, as is evident from the contents of the letter, reproduced earlier. - It is well settled law that no a .....

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shed. - Decided in favour of assessee for statistical purposes. - ITA no. 2909/Del/2014 - Dated:- 8-7-2016 - SHRI S.V. MEHROTRA : ACCOUNTANT MEMBER For The Appellant : Shri Subodh Gupta CA For The Respondent : Ms. Anchal Khandelwal Sr. DR ORDER PER S.V. MEHROTRA, A.M: This is assessee s appeal against the order dated 20.02.2014, passed by the ld. CIT(A)-19, New Delhi, relating to A.Y. 1999-2000. 2. Ground of appeal, raised by the assessee in its appeal, are as under: Jurisdiction on Defunct Comp .....

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e case and in Law, Learned CIT(A) has erred and was not justified in enhancement of income on the matters which were not part of the appeal of the appellant without any cogent reasons, basis or contrary evidence and thus learned CIT(A) has exceeded his jurisdiction u/s 250 of the Act in enhancing the assessment in a gross arbitrary manner. 3. The CIT(A) has acted arbitrarily in haste and has failed to fully appreciate the facts, circumstances and written submissions of the appellant, remand repo .....

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as no sufficient 'reasons to believe' any escapement of income and the initiation by issue of notice u/s 148 was merely based on a report from AO, ward 6(1), rather than AO's own satisfaction. It is submitted that learned AO was not even aware of the contents and/ or the reasons of such conclusions by said AO ward 6(1). 6. That learned assessing officer has failed and was not justified in not acceding the specific request made by assessee during the course of assessment to provide th .....

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appellant from undisclosed sources u/s 68 of the Act. 8. The impugned assessment is bad on facts and in law on the ground of equity & arbitrariness as the lower authorities have failed to cast any reason, inspite of specific request made in this regard, as to why such transaction referred by AO ward 6(1) was being treated as bogus or to provide the copies of the evidences, if any, to result in formation of opinion for reasons to believe, before assuming jurisdiction u/s 147. 9. The lower aut .....

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other. 11. The assessee craves to add, modify any new ground of appeal or adduce any new evidence during the course of appeal, as may be necessary, for the disposal of appeal and discharge of due justice to the appellant. 3. The assessee filed its return of income declaring loss of ₹ 1,84,170/- . The AO had received information from ITO Ward 6(1), New Delhi vide letter No. ITO Ward 6(1)/2005-06/502 dated 20.3.2006 that the assessee company had received an accommodation entry of ₹ 3,0 .....

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48. The Ld. CIT(A), however, after considering the assessee s submissions upheld the same. Aggrieved, the assessee is in appeal before the Tribunal. 5. Ld. counsel referred to page 71 of the PB, wherein the reply filed on 5.4.2006 in response to notice u/s 148 is contained wherein the assessee had, inter alia, stated as under: In this regard, we would like to inform you that the captioned assessee company was incorporated under the Companies Act. 1956 on 03.10.1994. It is also mentioned that the .....

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d requested for striking off of the name of the company under the simplified existing scheme as per Circular no. 8/2003/F.No. 17/18/2001- CLV dated 25.03.2003. Ld. counsel pointed out that this application was in accordance with section 560 of the Companies Act. He further referred to page 24 of the PB, wherein the order of ROC dated 23.6.2006, striking off the name of the company is contained. 7. With reference to aforementioned documents, ld. counsel referred to the assessment order, which was .....

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.2006". The submissions of the appellant and the facts have been carefully considered. In the asstt. order, the AO. has stated that the notice u/s 148 dated 24.3.06 has been duly served on the assessee on 25.3.06. The appellant has filed a copy of a notice dated 23.6.06 from the Dy. Registrar of Companies by which the appellant company is said to have been "dissolved from the date of this publication in Gazette Notification". Only an unauthenticated copy of this notice was filed a .....

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