Commissioner Of Income Tax-7 vs Rrj Securities Ltd. on 30 October, 2015


1. The Revenue has preferred these appeals under Section 260A of the

Income Tax Act, 1961 (hereafter the ‘Act’) impugning a common order

dated 26th August, 2014 passed by the Income Tax Appellate Tribunal

(hereafter the ‘Tribunal’) in a batch of six appeals and six cross objections

relating to six assessment years (AYs), being AYs 2003-04 to 2008-09. The

aforesaid appeals before the Tribunal, were filed by the Revenue (being

ITA Nos. 4232-4237/Del/2012) impugning a common order of the

Commissioner Income Tax (Appeals) dated 17th May, 2012 partly allowing

appeals of the Assessee in respect of the assessment orders (all dated 31 st

December, 2010) passed by the Assessing Officer (hereafter ‘AO’) under

Section 153C read with Section 143(2) of the Act. The Revenue was

aggrieved inasmuch as the CIT(A) had set aside the addition to the total

income of the Assessee made by the AO under Section 69C of the Act in

respect of the purchases as declared by the Assessee as well as the AO’s

decision to disallow the entire expenses claimed by the Assessee. The

Tribunal’s order dated 26th August, 2014 also disposed of the cross

ITA 164/2015 & Other Connected Matters Page 2 of 40
objections preferred by the Assessee – 6 in number – as being academic.

The Assessee had challenged the CIT(A)’s order to the limited extent that

the CIT(A) had not accepted the Assessee’s contention that the assessment

orders passed were illegal and without jurisdiction.

Source: Indian Kanoon

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