ITO Vs Super Plastronics Private Limited (ITAT Delhi)
Firm’s PAN Used for Imports, Company Had Already Filed ROI – Wrong PAN Triggered Reopening: Delhi ITAT Sends Matter Back—Imports to Be Verified Afresh
Revenue filed four appeals—two quantum & two penalty—for AYs 2015-16 & 2016-17. AO had issued notices u/s 148 based on AIMS/NMS information showing significant import transactions against PAN AACFS9943C, which belonged to a firm. Assessee, however, was a private limited company, regularly filing returns since AY 2005-06 under correct PAN AACCS1710N. AO presumed non-filing, treated imports as unexplained expenditure, & made additions u/s 69C (Rs.31.69 crore for AY 2015-16).
CIT(A)/NFAC quashed reassessment entirely on the ground that AO failed to verify PAN data, blindly relied on anonymous AIMS feed, & ignored that company had already filed ROI & was assessed u/s 143(3). CIT(A) treated notice u/s 148 as invalid & deleted additions.
Before Tribunal, DR argued that the firm-PAN (AACFS9943C) was used for actual imports, PAN was never surrendered, & the AO must be allowed to verify if such imports were in fact accounted for in the books of the assessee-company under correct PAN (AACCS1710N). If imports were already recorded, no addition survives; if not recorded, verification is essential.
