TaxTMI 
TaxTMI 
2025 (3) TMI 2323
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....LA, AM: These appeals filed by Revenue (ITA No.- 1307/Del/2021, 1312/Del/2021 and 1315/Del/2021) and Cross Objections by assessee (141/Del/2022, 144/Del/2022 & 148/Del/2022). Since the issues involved in these appeals are interconnected, they are being disposed of by this consolidated order for the sake of convenience and brevity 2. The first issue raised by the Revenue in ITA No.- 1307/Del/ 2021, 1312/Del/2021 and 1315/Del/2021 through its grounds of appeal including revised grounds in the case of SRC Buildtech Pvt. Ltd., is regarding the addition of Rs. 2,74,40,000/- made by the Ld.AO, for A.Y. 2012-13, in respect of M/s SRC Buildtech Pvt. Ltd, SRC Realtech Pvt. Ltd. and Pyramid Buildtech Pvt. Ltd. It is imperative to briefly examin....
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....sively in his order and specifically in para 9.1 at pages 44 to 49 of his impugned order. It was concluded that the impugned expenses were pertaining to genuine business transactions and were recorded in the books of account. While arriving at his conclusion, he also placed reliance upon the remand report filed by the Ld. Assessing Officer dated 08.07.2021, as well as communications and submissions made by the PCIT (Central)-3, New Delhi, before the settlement commission. Pertinently, the Ld. AO had himself, in his remand report, concluded that the transactions did not reveal any negative inferences. For the purposes of clarity, the relevant part of the remand report is reproduced here under: " ..... therefore, after taking into co....
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....by the Ld.AO, for A.Y. 2012-13, in respect of M/s SRC Buildtech Pvt. Ltd, SRC Realtech Pvt. Ltd. and Pyramid Buildtech Pvt. Ltd., can be placed upon the Ld. CIT(A). Accordingly, we are of the considered view that there is no case for any interference to be made to the order of Ld. CIT(A). Accordingly, the action of Ld. CIT(A) in deleting the addition of Rs. 2,74,40,000/- made by the Ld.AO, for A.Y. 2012-13, in respect of M/s SRC Buildtech Pvt. Ltd, SRC Realtech Pvt. Ltd. and Pyramid Buildtech Pvt. Ltd., challenged by the revenue vide ITA No.- 1307/Del, 1312/ and 1315/ is confirmed and the ground of appeal raised by the Revenue are dismissed. 6. The next issue raised by the Revenue is regarding an addition of Rs. 25 lakhs made by the Ld. ....
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....at completed assessment can only be interfered by an Assessing Officer under Section 153A only if any incriminating documents is found and seized during the search proceedings. The Ld. CIT(A) also relied upon the decision of Hon'ble Apex Court in the case of Mita GutGutia 96 taxman.com 468. 7. We have heard rival submission in the light of the material available on record. It a case of revenue that the decision in the case Shri Kabul Chawla of Hon'ble Delhi High Court, 380 ITR 573 (supra), has been contested by the Department before the Hon'ble Apex Court, though, it had to withdraw its SLP on account of low tax effect. The Ld. AR submitted that Hon'ble Apex Court has admitted an SLP in the case of Apar Industries, decided by Hon'ble Bom....