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TMI Blog2021 (9) TMI 651X X X X Extracts X X X X X X X X Extracts X X X X ..... he aforementioned appeals by Revenue are hereby disposed off through this Consolidated Order for the sake of convenience and brevity. Grounds taken in these Appeals are as under: ITA No.- 2591/Del/2018 "1. Whether on the facts and in the circumstances of the case & in law, CIT (A) erred in deleting the addition after applying the net profit rate 8% Prescribed u/s 44AD Without appreciating that the assessee being in the business of real estate developer with turnover of more than 40 Lacs was not eligible for taxation as per rates prescribed u/s 44AD. 2. Whether on the facts and in the circumstances of the case & law, CIT (A) after having accepted that due to non production of project wise expenses, revenue recognition W.I.P., bills/ vouchers, copies of agreements, etc, the books of appellant cannot be relied, erred in deleting the addition on grounds that AO has not cited any comparable cases having such high profits. The Ld. CIT (A) failed to appreciate that when assessee's books were already held unreliable, the AO was left with no choice to estimate profit, which in the opinion of AO was fair & reasonable having regards to nature of business turnover & the fact that one of d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of appeal as stated above as and when needed for doing so may arise." ITA No.- 2593/Del/2018 "1. Whether on the facts and in the circumstances of the case & in law, CIT (A) erred in deleting the addition after applying the net profit rate 8% Prescribed u/s 44AD Without appreciating that the assessee being in the business of real estate developer with turnover of more than 40 Lacs was not eligible for taxation as per rates prescribed u/s 44AD. 2. Whether on the facts and in the circumstances of the case & law, CIT (A) after having accepted that due to non production of project wise expenses, revenue recognition W.I.P., bills/ vouchers, copies of agreements, etc, the books of appellant cannot be relied, erred in deleting the addition on grounds that AO has not cited any comparable cases having such high profits. The Ld. CIT (A) failed to appreciate that when assessee's books were already held unreliable, the AO was left with no choice to estimate profit, which in the opinion of AO was fair & reasonable having regards to nature of business turnover & the fact that one of directors had already admitted huge undisclosed income during the course of search. 3. Whether on the facts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessment Years 2008-09, 2010-11, 2011-12, 2012-13 & 2013-14 in ITA Nos.- 1766, 1767, 1768, 1769 & 1770/Del/2018 respectively. In the aforesaid consolidated order dated 30.07.2021 passed by Co-ordinate Bench of ITAT, Delhi it was held that the Assessment Orders were barred by limitation; and the aforesaid impugned consolidated appellate order dated 25.01.2018 passed by Ld. CIT(A) was set aside. The relevant portion of the aforesaid consolidated order dated 30.07.2021 of Co-ordinate Bench of ITAT, Delhi is reproduced as under: "5. We have heard the rival arguments made by both the sides, perused the orders of the A.O. and the Ld. CIT(A) and the paper book filed on behalf of the assessee. We have also gone through the various decisions cited before us. We find the A.O. in the instant case has communicated to the assessee vide letter Dated 22.03.2016 [Pages 84-89 of the paper book] regarding approval given by Pr.CIT, Central, Kanpur for getting its accounts audited by M/s D.S. Sinha & Co, Kanpur within 90 days from the service of the notice. Subsequently, the A.O. vide letter Dated 29.03.2016 [Page91 of the paper book] communicated to the assessee to get its accounts audited by M/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessment Years 2010-11, 2011-12, 2012-2013 & 2013-2014 7. Identical grounds have been raised by the assessee in all the above appeals. Since the Ld. CIT(A) has passed common order upholding the validity of the assessment passed beyond the period of limitation as per the provisions of Section 142(2A) and since we have already held in the preceding paragraph that such order passed by the A.O. is barred by limitation, therefore, following our observations in ITA.No.1766/Del./2018 for the A.Y. 2008- 2009, the grounds raised by the Assessee on this issue are also allowed in its favour. Accordingly, all the appeals of the Assessee for the A.Ys.2010-11 to 2013-2014 are allowed. 8. In the result, ITA.Nos.1767, 1768, 1769 & 1770/ Del./2018 of the Assessee are allowed." (C) The present appeals before us are filed by Revenue against the aforesaid impugned appellate order dated 25.01.2018 of the Ld. CIT(A), for Assessment Years 2011-12, 2012-13 & 2013-14. In the course of appellate proceedings, the learned Authorized Representative ("Ld. AR", for short) of the assessee filed a synopsis, alongwith the aforesaid consolidated order dated 30.07.2021 of Co-ordinate Bench of ITAT, Delhi. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the A.O. is barred by limitation, therefore, following our observations in ITA.No.l766/Del./2018 for the A.Y. 2008-09, the grounds raised by the Assessee on this issue are also allowed in its favour. Accordingly, all the appeals of the Assessee for the A.Ys.2010-11 to 2013-14 are allowed. 8. In the result, ITA.Nos. 1767, 1768, 1769 & 1770/Del./2018 of the Assessee are allowed." Copy of order as a whole is annexed herewith. 3. Accordingly, as the consolidated order of CIT(A) (as impugned by the Revenue in present appeals) had been set aside and the order passed by the Assessing Officer have been quashed. Hence, the present appeal of the revenue deserves to be dismissed." (C.1) At the time of hearing before us, at the outset, the Ld. AR of the assessee submitted that these appeals filed by Revenue are not maintainable in view of the fact that the relevant Assessment Orders, being barred by limitation, have already been quashed, vide aforesaid consolidated order dated 30.07.2021 of Co-ordinate Bench of ITAT, Delhi. He further submitted that the impugned consolidated order of the Ld. CIT(A) have also been set aside, vide aforesaid consolidated order dated 30.07.2021 of Co-ordi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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