Dart Infrabuild Pvt. Ltd.(Earlier known as kiwi infrabuild Pvt. Ltd.), New Delhi ITO ward-14(3), New Delhi

Last updated: 17 December 2020

Save Share

Quick Summary

This Income Tax Appellate Tribunal case involves M/s Dart Infrabuild (formerly Kiwi Infrabuild) appealing an assessment for the 2010-11 financial year. The company challenges the assessment's validity, citing issues with the service of notice under Section 148 and the non-issuance of a notice under Section 143(2) of the Income Tax Act. The assessment was initiated after scrutiny for the subsequent year revealed share premium receipts in the relevant period, and it was discovered that no return of income had been filed for AY 2010-11.

Court :
ITAT New Delhi

Brief :
Aggrieved by the order dated 28/3/2016 passed by the learned Commissioner of Income Tax (Appeals)-36 (“Ld. CIT(A)”) in the case of M/s Kiwi Infrabuild Pvt. Ltd. (“the assessee”), for the assessment year 2010-11, the assessee preferred this appeal challenging the completion of assessment under section 147/144 of the Income Tax Act, 1961 (“the Act”) on the grounds of improper service of notice under section 148 of the Act and also non-issuance of notice under section 143(2) of the Act.

Citation :
ITA No.-8774/Del/2019

IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH: ‘B’ NEW DELHI

BEFORE SHRI G.S. PANNU, HON’BLE VICE PRESIDENT
&
SHRI K.N. CHARY, JUDICIAL MEMBER

ITA No.-8774/Del/2019
(Assessment Year: 2010-11)

M/s Dart Infrabuild (P) Ltd.
(Earlier known as Kiwi Infrabuild P. Ltd.)
E-1, South Extension, Part-II,
North Delhi.
PAN No. AACCK8924G

ITO
Ward 14(3),
New Delhi.

Assessee by Shri Salil Aggarwal, Adv.
&
Shri Shailesh Gupta, CA

Revenue by Ms. Nidhi Srivastava, CIT DR

ORDER

PER K. NARSIMHA CHARY, J.M.

Aggrieved by the order dated 28/3/2016 passed by the learned Commissioner of Income Tax (Appeals)-36 (“Ld. CIT(A)”) in the case of M/s Kiwi Infrabuild Pvt. Ltd. (“the assessee”), for the assessment year 2010-11, the assessee preferred this appeal challenging the completion of assessment under section 147/144 of the Income Tax Act, 1961 (“the Act”) on the grounds of improper service of notice under section 148 of the Act and also non-issuance of notice under section 143(2) of the Act.

2. Briefly stated facts are that the assessees is a company. Its case was selected under scrutiny for the assessment year 2011-12 for the reason that the assessee had received large share premium. During the course of scrutiny proceedings for such year, it was submitted on behalf of the assessee that the share premium was received during the financial year 2009-10 relevant to the assessment year 2010-11 and, therefore, does not belong to the assessment year 2011-12. Assessee also placed evidences in that respect. On verification of record it was found that the assessee company did not file any return of income for the assessment year 2010-11.

To know more in details find the attachment file

FAQ :

The main issue is the assessee's challenge to the completion of assessment under Section 147/144 of the Income Tax Act, 1961, due to alleged improper service of notice under Section 148 and non-issuance of notice under Section 143(2).

This appeal concerns the assessment year 2010-11.

The assessment was initiated because the assessee company did not file a return of income for the assessment year 2010-11, which came to light during scrutiny proceedings for the assessment year 2011-12 concerning share premium receipts.

The grounds for appeal were improper service of notice under Section 148 of the Income Tax Act and the non-issuance of notice under Section 143(2) of the Act.

The company was previously known as M/s Kiwi Infrabuild Pvt. Ltd.