ITA No. 947/DEL/2022 – ACIT, Circle-1, Noida vs. Jaiprakash Associates Limited

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “C”: DELHI

BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER

ITA Nos. 945 to 947/Del./2022
Assessment Years: 2010-11 to 2012-13

The ACIT, Circle -1, Noida 201301 vs. M/s. Jaiprakash Associates Limited, Sector-128, Noida 201304

Date of Hearing: 01.12.2022
Date of Pronouncement: 07.02.2023

This case pertains to the appeal filed by the Revenue against the orders of the Ld. CIT(A)-I, Noida, for the assessment years ranging from 2010-11 to 2012-13. The main contentions revolve around various additions and disallowances pertaining to depreciation on Iraqi Assets, Depreciation on purely temporary erections, Disallowance of Interest, Disallowance of deduction on account of Retention Money, Disallowance of Manufacturing Expenses, Disallowance of Miscellaneous Expenses, Disallowance of Deduction u/s 801A, and issues related to the contribution to Jaiprakash Associates Employees Gratuity Fund Trust and Golf Course Depreciation.

The Tribunal, after considering the submissions and materials on record, found that the issues raised in the appeal for the assessment year 2012-13 are identical to those of the previous years and thus, following the reasons stated in the judgments for previous years, dismissed the appeal of the Revenue. It was observed that consistent issues involved in the appeals were heard together and disposed of by a common consolidated order for the sake of brevity. The Tribunal referred to the relevant facts from ITA.No.945/Del./2022 for A.Y. 2010-11 for the sake of discussion, which are under consideration.

The judicious consideration of past tribunal orders and high court judgments relevant to the case played a crucial role. The Tribunal found no reasonable cause to interfere with the order of the Ld. CIT(A), thereby dismissing the grounds of Revenue in both the assessment years.

The detailed discussions and legal precedents cited in the judgment reiterate the principle of consistency and judicial precedence in deciding the appeal. The Tribunal’s decision emphasizes the importance of examining each issue based on the merits of the case, in light of the evidence presented and in adherence to the applicable legal frameworks.

Order pronounced in the open court on 07th February, 2023.

Judicial Member

Accountant Member

ITA No. 947/DEL/2022 – ACIT, Circle-1, Noida vs. Jaiprakash Associates Limited