Order passed without following due process is bad in law and deserves to be quashed - FGR Logistics Pvt Ltd Vs ACIT

Last updated: 12 January 2021

Court :
ITAT New Delhi

Brief :
This appeal by assessee has been directed againstthe Order of the Ld. CIT(A)-34, New Delhi, Dated 18.02.2019, for the A.Y. 2010-2011, challenging the reassessmentproceedings under sections 147/148 of the I.T.Act, 1961, addition of Rs.10 lakhs on account of share capital under section 68 of the I.T. Act, 1961 and addition of Rs.17,500/- on account of commission paid.

Citation :
ITA.No.4560/Del./2019

IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCHES “SMC-2” : DELHI

BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER
AND
SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER

ITA.No.4560/Del./2019
Assessment Year 2010-2011

FGR Logistics Pvt. Ltd.,
Shop No.3, Zakhira Chara
Mandi, New Delhi.
PIN 110 015
PAN AAACF5892N
(Appellant)

[vs.

The ACIT, Circle 9(1),
New Delhi.
(Respondent)

For Assessee : Shri Shantanu Jain, Advocate
For Revenue : Mr. Sri Prakash Dubey, Sr.DR
Date of Hearing : 23.12.2020
Date of Pronouncement : 01.01.2021

ORDER

PER BHAVNESH SAINI, J.M.

This appeal by assessee has been directed againstthe Order of the Ld. CIT(A)-34, New Delhi, Dated 18.02.2019, for the A.Y. 2010-2011, challenging the reassessmentproceedings under sections 147/148 of the I.T.Act, 1961, addition of Rs.10 lakhs on account of share capital under section 68 of the I.T. Act, 1961 and addition of Rs.17,500/- on account of commission paid.

2. We have heard the Learned Representatives ofboth the parties through video conferencing and perused the material on record.

3. Briefly the facts of the case are that assesseecompany filed return of income on 29.09.2011 declaring total income of Rs.31,74,650/-. Subsequently, it was revised to the same income which was processed under section 143(1). The A.O. issued notice under section 148 of the I.T.Act on 29.03.2017. The assessee in response thereto filedletter dated 20.04.2017 [PB-26] submitting therein that thereturn filed under section 139 of the I.T. Act may beconsidered as return filed in response to the notice undersection 148 of the I.T. Act, 1961. The assessee requested forsupply of the reasons for re-assessment proceedings whichwere provided to the assessee on 21.11.2017. The assessee filed objections to the re-assessment proceedings which were disposed of by the A.O. by speaking order.

To know more in details find the attachment file