VS. (APPELLANT) (RESPONDENT) 1. That on the facts and
Transcription
VS. (APPELLANT) (RESPONDENT) 1. That on the facts and
ITA NO. 3196/DEL/2013 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”, NEW DELHI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND SHRI H.S. SIDHU, JUDICIAL MEMBER I.T.A. No. 3196/Del/2013 A.Y : 2008-09 M/s Global Heritage Venture Ltd., (Formerly known as M/s Krishna Buildwell & Developers Pvt. Ltd.), 12, Ring Road, Lajpat Nagar-IV, New Delhi – 110 024 (PAN: AACCK9842K) VS. DCIT, CENTRAL CIRCLE-12, JHANDEWALAN EXTENSION, ARA CENTRE, NEW DELHI (APPELLANT) (RESPONDENT) Assessee by Department by : : Sh. Sudesh Garg, Advocate Sh. Vikram Sahai, Sr. DR Date of Hearing : 16-12-2014 Date of Order : 26-12-2014 ORDER PER H.S. SIDHU, JM:This is an appeal filed by the Assessee against the Order dated 12.3.2013 passed by the Ld. CIT(A)-XXXI, New Delhi pertaining to assessment year 2008-09. 2. The grounds raised in the Assessee’s Appeal read as under:- 1. That on the facts and circumstances of the case and in law, the CIT(A) has erred in not holding that the notice issued u/s. 153C and the assessment 1 ITA NO. 3196/DEL/2013 order passed u/s. 143C/143(3) are illegal, bad in law and without jurisdiction. 2. The order of the CIT(A) is bad in law as the CIT(A) has not considered that the assessment order in this case has not been passed on the basis of any material seized in a search action taken under section 132 of the I.T. Act, 1961. 3. The order of the CIT(A), on the facts and circumstances of the case, the perverse as it does not take into consideration the relevant documents brought on record and submissions of the assessee. 4. The CIT(A) has erred on the facts and in law in confirming the addition of Rs. 43,83,562/- made by the AO in not allowing capitalization of interest. 5. The CIT(A) has erred on the facts and in law in not considering that the interest of Rs. 43,83,562/has been utilized for purchase of property at NBCC Plaza, Pushp Vihar, New Delhi and therefore the interest paid ought to have been capitalized and added to the cost of the Hotel. 6. The assessee craves leaves to add, alter or modify the aforesaid ground and craves leave to file additional grounds. 7. The aforesaid grounds are taken without prejudice to each other.” 3. Brief facts of the case are that a search and seizure operation u/s. 132 of the I.T. Act was carried out in Rajdarbar Group of 2 ITA NO. 3196/DEL/2013 Companies on 31.7.2008. During search operation certain documents were seized which belong to the assessee company. The case of the assessee was transferred to Central Circle-5, New Delhi under section 127 of the I.T. Act, 1961. 4. Notice u/s. 153C of the I.T. Act, 1961 dated 10.3.2010 was issued by the ACIT, CC-5, New Delhi to the assessee company, requiring it to file the return for the assessment year 2008-09 but the same returned unserved. Fresh notice u/s. 153C of the I.T. Act, 1961 dated 2.8.2010 was issued to the assessee company at the new address supplied by the authorized representative of the assessee company, requiring it to file the return for the asstt. year 2008-09. Return of income for the asstt. year 2008-09 was filed by the assessee on 27.8.2010 declaring income of Rs. 5,85,330/-. The return filed by the assessee company is the same as that of e-filed u/s. 139 of the Act on 25.2.2009. While completing the assessment, the Ld. AO has held that the assessee company has received a sum of Rs. 100 crores from M/s Pramerica ASPFII Cyprus Holding Limited, 11, Florinis Street Forum, 7th floor, 1065, Nicosia, Cyprus on account of 4% Fully & Mandatory Convertible Debentures. The assessee company has paid interest on debentures to the tune of Rs. 43,83,532/- and capitalized the same in the cost of the hotel. The AO held that the interest of Rs. 43,83,562/- paid to foreign company is not allowed to be capitalized in the cost of the hotel. 5. Against the aforesaid assessment order dated 27.12.2010 passed under section 153C/143(3) of the I.T. Act, 1961, assessee appealed before the Ld. First Appellate Authority, who vide impugned order dated 12.3.2013 while confirming the action of the Assessing Officer has held that the AO has rightly assumed the jurisdiction u/s. 153C and dismissed the appeal of the assessee accordingly. 3 ITA NO. 3196/DEL/2013 6. Against the impugned Order dated 12.3.2013 of the Ld. CIT(A), Assessee filed an appeal before us. 7. At the time of hearing, Ld. Counsel of the assessee, assailed the impugned order and brought to our notice the ‘Satisfaction Note’ recorded in the case of the assessee for the assessment year 2008-09 which reads as under:- “M/s Global Heritage Ventrues Pvt. Ltd. Satisfaction note for proceedings u/s. 153C of the Income Tax Act, 1961. A Search operation was conducted on Raj Darbar Group of Cases on 31.7.2008. During the course of Search operations at the premises of 1. Party A-7 (Office of M/s Global Realty Ventrues Pvt. Ltd., Narsi Value Creations Pvt. Ltd., Galaxy Nirmaan Pvt., True Zone Buildwell Pvt. Ltd., 11, Ring Road, Lajpat Nagar-IV, New Delhi). 2. Party A-15 (Locker) (Restraint at Locker No. 347, Key No. 431, Central Bank of India, Kamla Nagar, Agra UP in the name of Smt. Anita Aggarwal) Various paper were found and seized belonging to M/s Global Heritage Ventures Pvt. Ltd. The annexure are marked as : 1. Party NO. A-7 Ann. A-5 pages 84-83, Ann.A-17, Ann. A-22, Ann. A-30 pages 1-130, Ann. A-31 pages 1-135, Ann. A-32 Pages 1-367, Ann. A-41 pages 3-10, An. A-42 pages 1-241, Ann. A-44. 4 ITA NO. 3196/DEL/2013 2. Party No. A-15 Ann.A-20, pages 28-39, 43, 44 46, 47, 49-52, Ann. A-21 pages 7 Ann. A-22 pages 10-13. In view of the aforementioned facts, asstt. proceedings u/s. 153C are warrants against the assessee. Notices u/s. 153 are being issued. Sd/(MAZHAR AKRAM) Asstt. Commissioner of Income Tax, Central Circle-5, New Delhi” 8. The ld counsel submitted that the learned Commissioner of Income Tax (Appeals) has erred both in law and on facts in failing to appreciate that both the notice issued u/s 153C of the Act and, assessment framed u/s 153A/143(3) of the Act were without satisfying the statutory preconditions in the Act and as such, were without jurisdiction and therefore, deserve to be quashed as such. Further the ld counsel contended that the AO does not really indicate how and whether the vaguely indicated documents in the satisfaction note were found to be belonging to the assessee within the meaning of section 153C of the Act; No mention of these documents in the assessment order ultimately passed under section 153C further lead to the conclusion that these documents had no relevance or belongingness to the assessee. The AO’s doesn’t even vaguely record the satisfaction under section 153C, except the words satisfaction in the heading satisfaction note proceedings under section 153C, at no other place word satisfaction has been used. In the concluding line, Ld. AO merely mentions that in view of the aforementioned facts, assessment proceedings under section 153C warrants against the assesee; Notices under section 153C are 5 ITA NO. 3196/DEL/2013 being issued; there is no date recorded on the satisfaction note; there is no recording / reference about the contents of these documents allegedly pertaining to the assessee. Even in the assessment order, no such mention has been made; no satisfaction note has been recorded by the Assessing Officer of the entity / entities from whose premises the documents etc. were seized (M/s Global Realty Ventures Pvt. Ltd., Narsi Value Creations Pvt. Ltd., Lagaxy Nirmaan Pvt. Ltd., True Zone Buildwell Pvt. Ltd., Smt. Anita Aggarwal and Sh. Nishant Aggarwal regarding the satisfaction of that AO he found the documents belonged to the assessee. Ld. Counsel for the assessee further contended that it is necessary that the satisfaction is recorded by the AO of the entity in whose case the document / asset has been seized to the effect that the relevant document / asset belong to the other person in whose case action under section 153C is contemplated; it is essential to establish that the document belongs to the person in whose case action u/s. 153C is contemplated; and the AO of the entity before initiating process under section 153C has to record a separate satisfaction that the document / asset belong to the person in whose case action under section 153C is required to be initiated and also he has to record satisfaction that the document / asset have significance on the assessment of income of the person in whose case action u/s. 153C is required to the initiated, as a result of search notice issued u/s 153C of the Act was illegal, invalid and unsustainable and so bad in law being without jurisdiction. 8.1 In support of his contention Ld. AR filed 02 Paper Books containing pages 1 to 68 one having the copy of written submission filed before the CIT(A) dated 25.2.2013 and 11.3.20-13; Copy of Annual Report for the year ending 31.3.2008; Copy of certified Satisfaction Note and Copy of MOA. The Second one is the Paper Book containing pages 1 to 166 having the written submissions; 6 ITA NO. 3196/DEL/2013 copy of letter for inspection; copy of Satisfaction Note and copies of various judgments of the Hon’ble High Court and ITAT which include the copy of order of High Court in the case of PepsiCo India Holdings (P) Ltd. (Pages 33-40 of the PB) and copy of order High Court in the case of Pepsi Foods Pvt. Ltd. (Pages 41-55 of the PB). 8.2 Ld. DR relied upon the order passed by the Ld. CIT(A) and stated that the First Appellate Authority has passed the impugned order on the basis of the various documentary evidence which the authorities has mentioned in the impugned order the AO has made the additions in dispute on the basis of detailed enquiry as well as the documentary evidence which has rightly been upheld by the Ld. First Appellate Authority. He requested that the case laws cited by the Ld. Counsel of the assessee is distinguishable on the facts of the case of the assessee and are not applicable, therefore, the appeal filed by the assessee may be dismissed. 9. We have heard the rival submission and carefully gone through the records and the case laws cited before us. The main issue raised by the assessee company is that assumption of jurisdiction by the AO before issuing notice u/s 153C of the Act is not in accordance to law and so the subsequent assessment is void-ab- initio and should be quashed being quarum-non-judice. For buttressing the said ground, the ld. counsel for the assessee brought to our notice the law laid down by the Hon’ble jurisdictional High Court in Pepsi Foods (P) Ltd. Vs. Asstt. CIT(WP(C) No. 415 of 2014 dated 07.08.2014. After examining the provision of Section 153C, 132 (4A)(i) and 292 (i)ii of the Act, the Hon’ble High Court had held as under:- "6. On a plain reading of Section 153C, it is evident that the Assessing Officer of the searched person must be "satisfied" that inter alia any document seized or requisitioned "belongs to" a person other than the searched person. It is only then that the Assessing Officer of the searched person can 7 ITA NO. 3196/DEL/2013 handover such document to the Assessing Officer having jurisdiction over such other person (other than the searched person). Furthermore, it is only after such handing over that the Assessing Officer of such other person can issue a notice to that person and assess or re-assess his income in accordance with the provisions of Section 153A. Therefore, before a notice under Section 153C can be issued two steps have to be taken. The first step is that the Assessing Officer of the person who is searched must arrive at a clear satisfaction that a document seized from him does not belong to him but to some other person. The second step is - after such satisfaction is arrived at - that the document is handed over to the Assessing Officer of the person to whom the said document "belongs". In the present cases it as been urged on behalf of the petitioner that the first step itself has not been fulfilled. For this purpose it would be necessary to examine the provisions of presumptions as indicated above. Section 132( 4A)(i) clearly stipulates that when inter alia any document is found in the possession or control of any person in the course of a search it may be presumed that such document belongs to such person. It is similarly provided in Section 292C (1)(i). In other words, whenever a document is found from a person who is being searched the normal presumption is that the said document belongs to that person. It is for the Assessing Officer to rebut that presumption and come to a conclusion or "satisfaction" that the document in fact belongs to somebody else. There must be some cogent material available with the Assessing Officer before he/she arrives at the satisfaction that the seized document does not belong to the searched person but to somebody else. Surmise and conjecture cannot take the place of "satisfaction". "11. It is evident from the above satisfaction note that apart from saying that the documents belonged to the petitioner and that the Assessing Officer is satisfied that it is a fit case for issuance of a notice under Section 153C, there is nothing which would indicate as to how the presumptions which are to be normally raised as indicated above, have been rebutted by the Assessing Officer. Mere use or mention of the word "satisfaction" or the words "I am satisfied" in the order or the note would not meet the requirement of the concept of satisfaction as used in Section 153C of the said Act. The satisfaction note itself must display the reasons or basis for the conclusion that the Assessing Officer of the searched person is satisfied that the seized documents belong to a person other than the searched person. We are afraid, that going through 8 ITA NO. 3196/DEL/2013 the contents of the satisfaction note, we are unable to discern any "satisfaction" of the kind required under Section 153C of the said Act." 10. In the light of the aforesaid order passed by the Hon’ble Jurisdictional High Court, we are of the view that the first step regarding the issuance of notice u/s. 153C has not been fulfilled, therefore, the notice u/s. 153C is illegal. Exactly on the issue involved in the present case the Ld. Counsel for the assessee has also brought to our notice the order of the Coordinate Bench in the case of V.K. Fiscal Services Pvt. Ltd. Vs. DCIT, Delhi in ITA No.54605465/Del/2012 in which the assessee assailed the assumption of jurisdiction of the AO u/s 153C of the Act. In the said case also the same AO on the same date on which the satisfaction note u/s 153C has been recorded against the assessee, in the instant case before us i.e. on 23.07.2010 made a ‘ditto’ copy except change in the name of the assessee, the satisfaction note which is also reproduced in Page 8 of the said order, which reads as under: “"23.07.2010 M/ s V.K. Fiscal Services P. Ltd. (A. Y. 2008-09) Satisfaction note for proceedings u/ s 153C of the Income Tax Act. 1961 A search operation was conducted on Raj Darbar Group of cases on 31.7.2008. During the course of search operations at the premises of: (i) Party A-7, Global Reality Ventures P. Ltd.: various papers were found and seized belonging to M/ s VK Fiscal Services P. Ltd. The annexure are marked as under: Party A-7: Annexure A-45 : Hard disc containing books of accounts of M/ s VK Fiscal Services P. Ltd. Thus the proceedings u/ s 153 C read with section 153A of the Income Tax Act, 1961 are being initiated in the above case. Sd/- 9 ITA NO. 3196/DEL/2013 Deputy Commissioner of Income Tax Central Circle 12, New Delhi." 11.1. A perusal of the Satisfaction Note demonstrates that in the hard disk of one of the computers some accounts of the assessee company were found. A print out of these books have been furnished to us by the Ld. CIT,D.R. A perusal of the print out show that page 1 is a "confirmation of accounts" given by the assessee company M/s V.K. Fiscal Services P. Ltd. to Global Reality Ventures Ltd., for the period is 1st April, 2008 to 31st March, 2009. As an attachment to this "confirmation of account", V.K. Fiscal Services P. Ltd. Has given a copy of ABN Amro Bank (626643) books, copy of trial balance, copy of profit and loss a/c, copy of balance sheet, copy of a party of the cash book, for the period of six months i.e. the period for which it had transactions with Global Reality Ventures, copy of ledger account of Global Reality Ventures and copy of Indian Overseas Bank (7556) ledger account. These in our view are not books of account belonging to the assessee, as sought to have been made out in the Satisfaction Note. This demonstrates that, the Satisfaction Note which says that books of accounts are contained in the hard disk, is a wrong recording of facts. The entire cash book or the bank book is not available in the hard disk. What was available in the hard disk was confirmation of accounts given by the assessee to Global Reality Ventures and statement of accounts, ledger etc. in support of the same. The relevant portion of the cash book, where the entries of Global Reality Ventures Ltd. are recorded was also there in the hard disk. Thus to hold that the hard disk contains books of accounts of M/s V.K. Fiscal Services P. Ltd. is prima facie wrong. Thus, in our view no money, bullion, jewellery or other valuable articles or books of accounts or documents seized belong to the assessee, warranting issual of notice u/s 153’C'. 11.2. Hence we uphold the contention of the assessee that the issual of notice u/s 153'C', under the facts and circumstances, is bad in law.” 11. We also take note of the recent judgement of the Hon’ble jurisdictional High Court in a similar case in Pepsico India Holdings (P) Ltd Vs. ACIT (2014) 50 Taxmann. Com 299 (Delhi), after considering the decisions cited by the Revenue held as under:10 ITA NO. 3196/DEL/2013 “5. While coming to the aforesaid conclusions the court had also examined the decisions which had been cited on behalf of the Revenue and which are, once again, being reiterated by the learned counsel for the Revenue before us. Those decisions are Kamleshbhai Dharamshibhai Patel v. CIT [2013] 214 Taxman 558/31 taxmann.com 50 (Guj.); ClT v. Classic Enterprises [2013] 358 ITR 465/219 Taxman 237/35 taxmann.com 244 (All.) and a decision of a Division Bench of this Court in SSP Aviation Ltd. v. Dy. CIT [2012] 346 ITR 177/207 Taxman 260/20 taxmann.com 214. This Court had indicated in its judgement in Pepsi Foods (P.) Ltd. (supra) that the case of Kamleshbhai Dharamshibhai Patel (supra) was distinguishable on facts. Those observations would apply to the present writ petitions also. As regards the decision of the Allahabad High Court in Classic Enterprises (supra), this Court had indicated that it could not agree with the conclusions and observations of the Allahabad High Court inasmuch as the decision of the Allahabad High Court was premised on a consideration of the provisions of Section 158BD of the said Act which are entirely different from the provisions of Section 153C of the said Act. Furthermore, with regard to the decision in SSP Aviation Ltd. (supra), this court had noted that the said decision does not militate against the view taken in Pepsi Foods (P.) Ltd. (supra). 6. The learned counsel for the Revenue has cited an additional decision before us today and that is the case of Sarvesh Kumar Agarwal v. Union of India [2013] 353 ITR 26/216 Taxman 109 (Mag.)/35 taxmann.com 85 (AIl). This decision also, in our view, does not advance the case of the Revenue. This would be evident from the observations of the Allahabad High Court in paragraphs 19 to 21 of the said decision, which read as under: "19. In Manish Maheshwari’s case (Supra) the Supreme Court observed that taxing statute must be constructed strictly. The Court, however, shall not interpret statutory provisions in such a manner, which would create an additional physical burden on a person. In case of any doubt or dispute, construction is to be made in favour of the tax payer and against the revenue. 20. In the present case we do not find anything wrong in the satisfaction note and the forwarding of the entire matter by the Income Tax Officer, Ward-Ill (2), Ahmedabad to the Assessing Officer of the petitioner at Bareilly. All the requirements of Section 153(c) were complied with by the Income Tax Officer, Ward-Ill (2), Ahmedabad. A search under Section 132A was carried 11 ITA NO. 3196/DEL/2013 out and bullion was seized. The case was selected for compulsory scrutiny for six assessment years. The assessee established that the seized silver belongs to M/s Sarvesh Jewellers, Bareilly - the petitioner. The ownership and consignment of the petitioner was also confirmed by the Assessing Officer of the petitioner at Bareilly. The Income Tax Officer, Ward-Ill (2), Ahmedabad did not commit any error in law, in recording the satisfaction note requesting the petitioner’s Assessing officer to proceed under Section 153(c) of the LT. Act. 21. After the assessment of the person in respect of whom search action was carried out is completed, the officer under Section 153C, where he find that seized articles belong to some other person, has to forward a satisfaction note to the Assessing Officer on such person. The satisfaction in such case is in respect of the material and disclosures of the person with which the articles or assets are found and not in respect of the person who whom they belong."(Underlining Added) 7. The above extract makes it clear that a taxing statute must be construed strictly and in the case of a doubt or dispute the construction in favour of the assessee has to be adopted. Apart from this, the material observation of the Allahabad High Court in the case of Savesh Kumar Agarwal (supra) is to be found in paragraph 20 thereof where it has been observed that the assessee established that the seized silver belongs to M/s. Sarvesh Jewellers, Bareilly - the petitioner. In other words, the person from whom the bullion was seized was able to establish that it did not belong to him but to Sarvesh Jewellers. It is in that context that the provisions of Section 153C of the Act were invoked inasmuch as the Assessing Officer would then be considered as having been satisfied that the bullion which was seized from the searched person did not belong to the searched person but to some other person (in that case M/s. Sarvesh Jewellers, Bareilly). 8. From the foregoing discussion it is evident that in order that the Assessing Officer of the searched person comes to the satisfaction that documents or materials found during the search belong to a person other than the searched person, it is necessary that he arrives at the satisfaction that the said documents or materials do not belong to the searched person. We may point out that in the course of the arguments we had asked the learned counsel for the Revenue as to whether the documents in question had been disclaimed by the Jaipuria Group. The learned counsel for the Revenue, on instructions, states that this was not the case. In other words, it follows that 12 ITA NO. 3196/DEL/2013 the Jaipuria Group did not say that the documents did not belong to them.” 12. The Hon’ble Delhi High Court further held as under:- “13. Having set out the position in law in the decision of this Court in the case of Pepsi Foods Pvt. Ltd. (supra), it must be seen as to whether the Assessing Officer of the searched person (the Jaipuria Group) could be said to have arrived at a satisfaction that the documents mentioned above belonged to the petitioners. 14. First of all we may point out, once again, that it is nobody"s case that the Jaipuria Group had disclaimed these documents as belonging to them. Unless and until it is established that the documents do not belong to the searched person, the provisions of Section 153C of the said Act do not get attracted because the very expression used in Section 153C of the said Act is that "where the Assessing Officer is satisfied that any money, bullion, jewellery or other valuable article or thing or books of account or documents seized or requisitioned belongs or belong to a person other than the person referred to in section 153A .... " In view of this phrase, it is necessary that before the provisions of Section 153C of the said Act can be invoked, the Assessing Officer of the searched person must be satisfied that the seized material (which includes documents) does not belong to the person referred to in Section 153A (i.e., the searched person). In the Satisfaction Note, which is the subject matter of these writ petitions, there is nothing therein to indicate that the seized documents do not belong to the Jaipuria Group. This is even apart from the fact that, as we have noted above, there is no disclaimer on the part of the Jaipuria Group insofar as these documents are concerned. 15. Secondly, we may also observe that the finding of photocopies in the possession of a searched person does not necessarily mean and imply that they "belong" to the person who holds the originals. Possession of documents and possession of photocopies of documents are two separate things. While the Jaipuria Group may be the owner of the photocopies of the documents it is quite possible that the originals may be owned by some other person. Unless it is established that the documents in question, whether they be photocopies or originals, do not belong to the searched person, the question of invoking Section 153C of the said Act does not arise. 13 ITA NO. 3196/DEL/2013 16. Thirdly, we would also like to make it clear that the assessing officers should not confuse the expression "belongs to" with the expressions "relates to" or "refers to". A registered sale deed, for example, "belongs to" the purchaser of the property although it obviously "relates to" or "refers to" the vendor. In this example if the purchasers premises are searched and the registered sale deed is seized, it cannot be said that it "belongs to" the vendor just because his name is mentioned in the document. In the converse case if the vendor’s premises are searched and a copy of the sale deed is seized, it cannot be said that the said copy "belongs to" the purchaser just because it refers to him and he (the purchaser) holds the original sale deed. In this light, it is obvious that none of the three sets of documents - copies of preference shares, unsigned leaves of cheque books and the copy of the supply and loan agreement - can be said to "belong to" the petitioner. 17. In view of the foregoing discussion, we do not find that the ingredients of Section 153C of the said Act have been satisfied in this case. Consequently the notices dated 02.08.2013 issued under Section 153C of the said Act are quashed. Accordingly all proceedings pursuant thereto stand quashed. 18. The writ petitions are allowed as above. There shall be no orders as to costs.” 13. Keeping in view of the aforesaid discussions with support of the case law on the issue in dispute alongwith the provisions of law, we are of the view that the issue in dispute has already been adjudicated and decided in favor of the assesse by the Hon’ble Jurisdictional High Court in the case of Pepsico India Holdings (P) Ltd Vs. ACIT (2014) 50 Taxmann. Com 299 (Delhi). We are also of the view that the same decision of the Hon’ble High Court has also been followed by the Coordinate Benches of the Tribunal. Therefore, respectfully following the decision of the Hon’ble Jurisdictional High Court in the case of Pepsico India Holdings (P) Ltd. (Supra), we are of the view that the AO does not have assumption for framing the assessment u/s. 153C read with section 153A of the I.T. Act. The AO lacks the jurisdiction to initiate the proceedings u/s. 153C against the assessee and therefore, the issuance of notice itself is null and 14 ITA NO. 3196/DEL/2013 void as well as the impugned order passed by the Ld. CIT(A) is also nullity and hence, the same is quashed as such. 14. Since we have quashed the notice u/s 153C of the Act itself, the other grounds are not adjudicated being academic. 15. In the result the appeal preferred by the assessee is allowed. Order pronounced in the Open Court 26-12-2014. Sd/- Sd/- [G.D. AGRAWAL] VICE PRESIDENT Date 26/12/2014 [H.S. SIDHU] JUDICIAL MEMBER “SRBHATNAGAR” Copy forwarded to: 1. 2. 3. 4. 5. Appellant Respondent CIT CIT (A) DR, ITAT TRUE COPY By Order, Assistant Registrar, ITAT, Delhi Benches 15 ITA NO. 3196/DEL/2013 16