Commissioner of Income-tax-7, New Delhi v. Odeon Builders Pvt. Ltd
[Citation -2019-LL-0821-177]
| Citation | 2019-LL-0821-177 |
|---|---|
| Appellant Name | Commissioner of Income-tax-7, New Delhi |
| Respondent Name | Odeon Builders Pvt. Ltd. |
| Court | SUPREME COURT |
| Relevant Act | Income-tax |
| Date of Order | 21/08/2019 |
| Judgment | View Judgment |
| Keyword Tags | condonation of delay • tax effect |
| Bot Summary: | We have perused the review petition and find that the tax effect in this case is above Rs.1 crore, that is, Rs.6,59,27,298/-. Ordinarily we would have recalled our order dated 17 th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than Rs.1 crore. On going through the judgments of the CIT, ITAT and the High Court, we find that on merits a disallowance of Rs.19,39,60,866/- was based solely on third party information, which was not subjected to any further Signature Not Verified Digitally signed by R NATARAJAN Date: 2019.08.22 16:36:32 IST scrutiny. Thus, the CIT allowed the appeal of the assessee stating: Reason: 2 Thus, the entire disallowance in this case is based on third party information gathered by the Investigation Wing of the Department, which have not been independently subjected to further verification by the AO who has not provided the copy of such statements to the appellant, thus denying opportunity of cross examination to the appellant, who has prima facie discharged the initial burden of substantiating the purchases through various documentation including purchase bills, transportation bills, confirmed copy of accounts and the fact of payment through cheques, VAT Registration of the sellers their Income Tax Return. The ITAT by its judgment dated 16 th May, 2014 relied on the self- same reasoning and dismissed the appeal of the revenue. The High Court by the impugned judgment dated 5 th July, 2017, affirmed the judgments of the CIT and ITAT as concurrent factual findings, which have not been shown to be perverse and dismissed the appeal stating that no substantial question of law arises from the impugned order of the ITAT. In these circumstances, the Review Petitions are dismissed. The Review Petitions are dismissed in terms of the signed order. |