2022 (8) TMI 626

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....ed 19.03.2015 and 25.03.2019 respectively. 2. The assessee has raised the following grounds of appeal:- (I.T.A. No. 3512/DEL/2019) "1. That the order of the CIT (A) in confirming addition of Rs.2,49,76,706/- made by the AO as unexplained cash credit under section 68 in spite of knowing the fact that the matter is pending in the ITAT on the same amount of addition and on the same issue is totally wrong, bad in law and needs to be quashed. - Rs. 1,21,86,700/- 2. That the notice dated 31.03.2017 u/s 148 was issued for A.Y. 2010-11 presuming that your income chargeable to tax has escaped assessment within the meaning ol section 147 of the Act. The reasons for reopening was that assessee has not explained a....

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....e prays permission to add, delete or amend one or more grounds of appeal. 4. That the assessee assures unstinted co-operation in all proceedings before your good self." 3. The Revenue has raised the following grounds of appeal:- (I.T.A. No. 1835/Del/2017) "The CIT (A)-07, New Delhi has wrongly deleted the addition for an amount of Rs.2,49,76,706/-, where- as latest enquiry has proved that the assesse has misled the CIT(A) on facts. Order of the CIT (A) deserved to be set-aside as the creditor M/s Abhina Cooperative Group Housing Society has been found to be non-existent". 4. Brief facts of the case are that, the assessment for the Assessment Year 2010-11 was completed u/s 143(3) of the Act on 25/03/2013 at an inco....

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....3/2013 by making addition on unexplained cash credit u/s 68 of the Act to the tune of Rs. 2,49,76,706/-. As against the said assessment order dated 25.03.2013, the assessee has preferred an appeal before the CIT(A) and the Ld.CIT(A) vide order dated 19/03/2015 allowed the Appeal of the assessee by deleting the said addition. It is the case of the Department that on enquiry it is found that M/s AbhinavCooperative Group Housing Society has been found to be nonexistent. Therefore, the AO has issued Notice under section 148 of the Act and also issued Notice under section 144 of the Act, in response the Assessee has filed objection for reopening of the assessment proceedings. Consequently, the assessment order came to be passed on 28.12.2018 whi....

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....e grounds of Appeal filed by the assessee are deserves to be allowed. Accordingly, we allow the Assessee's grounds of Appeal. 10. In the result, the Appeal of the assessee in ITA No. 3512/DEL/2019 is allowed. I.T.A. No. 1835/Del/2017 11. There is adelay of 615 days in filing the Appeal by the Revenue and the revenue has filed an application for condoning the delay stating the reason that after allowing the Appeal of the Assessee the CIT (A), the department has conducted an enquiry and found that M/s Abhinav Cooperative Group Housing Society is a nonexistent entity, thereafter, filed the present Appeal. For the reasons stated in the Application, we condone the delay in filing the Appeal by the Revenue. 12. The main ground urged b....