2019 (7) TMI 610

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....D E R CM Appl.No. 9283/2019 (delay) 1. For the reasons stated in the application, the delay of 252 days in re-filing the appeal is condoned and the application is disposed of. ITA No. 183/2019 2. This appeal by the Revenue is directed against the order dated 27^th December, 2017 passed by the Income Tax Appellate Tribunal (ITAT) in ITA No. 608/Del/2012 for the Assessment Year 2007-08. ....

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....as found in terms of which Shri Virender Kumar Mittal, Shri Ravinder Kumar Mittal and M/s Bluebird Software Private Limited (Sellers) had agreed to sell the shareholding in the said company along with an industrial plot at Gurgaon to Shri Sanjeev Mahajan and M/s Nimitaya Promoters Private Limited as buyers for a total consideration of Rs. 21.96 crores. Additionally, a signed Agreement to Sell date....

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....res was payment made outside the books of accounts for that year and therefore should be taken as undisclosed income. Being 50% of the share thereof, Rs. 6.98 crores was added to the income of the Assessee. 8. The Commissioner of Income Tax (Appeals) ['CIT(A)'] upheld the order of the AO by dismissing the appeal of the Assessee by an order dated 21st November, 2011. Thereafter the Assessee file....

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....y was worth Rs. 7.11 crores and the AO could not have disputed that finding. It was also noted by the ITAT that "the sale price on the basis of signed documents is accepted by the department in the hands of sellers of the property or shareholders of Bluebird Software Private Limited." 10. This Court concurs with the ITAT that indeed the AO could not have rejected the report of the DVO since it ....