2024 (10) TMI 763

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....er the impugned order) passed by the Income Tax Appellate Tribunal (hereafter the Tribunal) in ITA Nos. 4966/Del/2013 and 4967/Del/2013 captioned Dharam Raj Construction and Infrastructure Private Limited v. DCIT in respect of assessment year 2007-08 and 2008-09 respectively. 2. It is relevant to note that the impugned order is a common order passed in a batch of appeals. However, the present appeals are confined to the Revenue's appeals in ITA Nos. 4966/Del/2013 and 4967/Del/2013. This Court had, by an order dated 09.04.2024, framed the following question for consideration: "5. In that view of the matter, we are of the opinion that ITA 801/2019 and ITA 798/2019 would merit being admitted on the following questions of law:- A. Whether ....

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....e Tribunal has proceeded on the restrictive interpretation of the words "belongs to" as interpreted by this Court in Pepsico India Holdings (P.) Ltd. v. ACIT and Anr. (supra). The said decision in this regard does not hold good, in view of the legislative amendment to Section 153C of the Act brought by the Finance Act, 2015. Further, in the case of Income-tax Officer v. Vikram Sujitkumar Bhatia (supra), the Supreme Court has also authoritatively held that the same would be applicable to the searches conducted prior to the enactment of the Finance Act, 2015. Paragraph 11 of the said judgment is relevant and is set out below: "11. In view of the above and for the reasons stated above, the impugned common judgment and order passed by the Hig....