Case Law Details
DCIT Vs Amrapali Eden Park Developers Pvt. Ltd. (ITAT Delhi)
AO observed that the assessee has claimed expenditure on account of purchase from certain parties who are involved in merely issue of purchase bills (Bogus Purchase) and effecting payments through banking channels for commission and not actually supported with the physical transfer of goods. Furthermore, from para 5.2 of first appellate order, we observe that the ld.CIT(A) concluded the issue in favour of the assessee by observing and directing the AO to make available all adverse material and to allow opportunity to the assessee to explain/rebut the evidence and this may be undertaken during AY 2012-13 and subsequent years when the said expenditures embedded in the work-in-progress will be considered for computing the income of the assessee as per POC method and also directed the AO to take action as per law. The CIT(A) passed impugned order on 11.07.2014, much water have flown till today including conclusion of assessment proceedings for the several assessment years to AY 2011-12, including AY 2012-13 and outcome of these orders has to be taken care by the authorities below in view of controversy arose during AY 2011-12. Therefore, we find it appropriate and necessary to restore the issue to the file of the CIT(A) to consider the adjudication of the issue in AY 2012-13 and relevant subsequent assessment years and, thereafter re-adjudicate the issue after allowing due opportunity of hearing to the assessee. The Cross Objection of the assessee being supportive of the order of the ld.CIT(A) is also restored to the file of the CIT(A).
FULL TEXT OF THE ORDER OF ITAT DELHI
This appeal and the Cross Objection filed by the Revenue and the assessee, respectively, are directed against the order dated 11.07.2014 of the CIT(A)-1, New Delhi, relating to Assessment Year 2011-12.
2. The grounds of appeal raised by the Revenue read as under:-
Please become a Premium member. If you are already a Premium member, login here to access the full content.
