9911796707
TMI Blog2023 (1) TMI 659X X X X Extracts X X X X X X X X Extracts X X X X ..... instant case. Consequently, the grounds of the assessee on merits are also found covered in favour of assessee by the aforesaid decision. Appeal of assessee allowed. - ITA No. 910/DEL/2020 - - - Dated:- 5-1-2023 - SHRI KUL BHARAT , JUDICIAL MEMBER For the Assessee : Shri Aman Garg , CA For the Department : Shri Sumesh Swani , Sr. DR ORDER PER KUL BHARAT , JM : This appeal, by the assessee, is directed against the order of the learned Commissioner of Income-tax (Appeals)-35, New Delhi, dated 24.12.2019, pertaining to the assessment year 2007-08. The assessee has raised following grounds of appeal: 1. On the facts and circumstances of the case, the order passed by the learned CIT(A) is bad both in the eye of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... confirming the order passed by the AO despite the fact that reopening the assessment proceedings as well as reassessment order passed under section 148 of the Act are illegal, as the same have been made without assumption of valid jurisdiction. 7. On the facts and circumstances of the case, the learned CIT(A) has erred, both on facts and in law, in rejecting the contention of the assessee that the reassessment proceedings initiated by the learned AO without obtaining approval of the prescribed authority under the Act is bad in law and liable to be quashed. 8. (i) On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law, in confirming the addition of Rs.1,49,056/- made by the AO on account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ances of the case, the learned CIT(A) has erred both on facts and in law in confirming the above addition by indulging in surmises and conjectures only on the basis of presumptions and assumptions. 13. The appellant craves leave to add, amend or alter any of the grounds of appeal. 2. Apropos to the grounds of appeal, learned counsel for the assessee at the outset submitted that the issue in dispute is squarely covered by the decision of the coordinate Benches of the Tribunal and the Division Bench. Learned counsel further reiterated the submissions made in the synopsis. For the sake of clarity, the synopsis is reproduced as under: 1. This is an appeal filed by assessee against the order passed by the learned CIT(A) whereby h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Trading Co. v. ITO in ITA No. 059/Del/2017 And ITA No:- 7061/Del/2017 dated 27.09.2018 Jyoti Engineering Works, Sadhna Sharma, Ajay Sharma v. ITO in ITA No. 2719/Del/2018, ITA No. 2720/Del/2018, ITA No. 2721/Del/2018, ITA No. 2722/Del/2018 And ITA No. 2723/Del/2018 dated 26.09.2018 Rajender Prasad Prop. M/s Priya Enterprises v. ITO in ITA NO- 7060/DEL/2017 dated 07.09.2018 M/s Sapra Metal Co. v. ITO in ITA No. 2910/Del/2016 dated 09.3.2017 Therefore, in view of the above, the addition made by the Ld. AO and sustained by the Ld. CIT(A) is liable to be deleted. 3. Learned DR opposed the submissions and supported the orders of the authorities below. 4. I have heard the rival contentions, perused the material available on r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment order passed in pursuance thereto. Accordingly, Ground Nos. 2 and 3 of the assessee are allowed. 11. Now coming to the merit about the sustenance of the addition by the CIT(A) @ 20% of the purchases made by the assessee from M/s Vishu Trading Company, M/s Om Agencies., after hearing the rival submissions and going through the order of the Tribunal, we note that this Tribunal vide its order dated 28.10.2015 in the case of Unique Metal Industries (supra), deleted similar addition by observing in para 27 as under: 27. As regards the addition of 20% sustained by the Id. CIT(A) I am of the view that since purchases are not bogus the addition on this account cannot be sustained. Even otherwise the addition of 20% on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cumstances of the case, are not inclined to sustain the similar addition in the instant case. Consequently, the grounds of the assessee on merits are also found covered in favour of assessee by the aforesaid decision and are accordingly allowed. 11. The facts are identical and similar grounds have been raised by the assessee in the appeal for AY 2007-08. The Revenue has not brought to my notice any other binding precedent. Therefore, respectfully flowing the decision of the Division Bench rendered in ITA No.l367/Del/2015 for AY 2006-07. I hereby, direct the AO to delete the impugned addition. Thus, grounds raised by the assessee in this appeal are allowed. 12. In the result, the appeal of the assessee is allowed. 5. Since ..... X X X X Extracts X X X X X X X X Extracts X X X X
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