Commissioner Of Income Tax v. Home Developers Pvt. Ltd

$-5 to 9 IN THE HIGH COURT OF DELHI AT NEW DELHI+ITA 807/2014 +ITA 808/2014 +ITA 809/2014 +ITA 810/2014+ITA 811/2014+ITA 811/2014 COMMISSIONER OF INCOME TAX Appellant Through Mr. Rohit Madan and Mr. RuchirBhatia, Advs. versus HOME DEVELOPERS PVT. LTD. Through CORAM:HON'BLE MR. JUSTICE S. RAVINDRA BHATHON'BLE MR. JUSTICE R.K.GAUBAORDER%08.01.2015 % Respondent 1. These appeals impugn the common judgment and order dated21.9.2012 of the Income Tax Appellate Tribunal in several appeals preferredby both the assessee and revenue. The main appeal ITA No.808/2014concerns assessment year 2005-06 and the other appeals ITA Nos.807/2014,809/2014, 810/2014 and 811/2014 are concerned with penalties imposed bythe assessing officer, ultimately interfered with by the ITAT. 2. The proceedings in this case arose on account of search conducted inthe premises of one Yogesh Gupta, a director of the assessee-company on28.3.2006. Thereafter, notice under section 153A was issued and a returnwas filed by the assessee. During the course of proceedings the assessee had surrendered undisclosed income of ^2 crores for the block period. In thecourse of the search, in addition to this disclosure in the name of YogeshGupta further disclosure of crores in the name of Rajiv Bahal and hisfamily members and ?9 crores in the name of Realtech Project Pvt. Ltd. andRealtech Construction Pvt. Ltd. was also made. This culminated in thecommon order of the ITAT. 3. At the outset we notice that said common order was carried in appealfor assessment year 2004-05 in ITA 803/2014. The Court on that occasionrepelled the contention of the revenue that the loan were taken and interestpayments have been made which had been overlooked by the ITAT. ThisCourt was of the opinion that there was no material in support of suchcontention. In the present appeal too identical submissions have been madeand the questions of law urged are of the same kind as was urged in ITA803/2014. Following the reasoning in ITA No.803/20I4 the present appealshave to also be rejected. ITA Nos. 807/2014, 808/2014, 809/2014, 810/2014and 811/2014 are accordingly disposed of. JANUARY 08, 2015 vld S. RAVINDRA BHAT, J/R.K.GAUBA, J