Quippo Telecom Infrastructure Pvt. Ltd Vs ACIT (ITAT Delhi)

The Income Tax Appellate Tribunal (ITAT) Delhi Bench heard appeals from Quippo Telecom Infrastructure Pvt. Ltd concerning the assessment year 2010-11. The appeals related to disallowances made by the Assessing Officer (AO) and a significant penalty levied under section 271(1)(c) of the Income Tax Act. The tribunal reviewed the orders of the Commissioner of Income Tax (Appeals) which had confirmed these disallowances and the penalty.

INCOME TAX APPELLATE TRIBUNAL 
DELHI BENCH “F”: NEW DELHI 
BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER 
AND 
SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER 
ITA No. 2191& 2006/Del/2017 
(Assessment Year: 2010-11)

Quippo Telecom Infrastructure Pvt. Ltd, D-2, 5th Floor, Sourthern Park, Saket Place, New Delhi PAN: AAACQ1279N
(Appellant)

Vs.

The Assistant Commissioner of Income Tax , Circle-19(1), New Delhi
(Respondent)

Assessee by : Shri Ajay Vohra, Sr. Adv Shri Divyan Mittal, CA
Revenue by: Smt Sulekha Verma, CIT DR
Date of Hearing 13/12/2019
Date of pronouncement 06/03/2020

O R D E R

PER PRASHANT MAHARISHI, A. M.

1. These are two appeals filed by the assessee for the same assessment year. First one in ITA No 2006/Del/2017 against the order of the ld CIT(A) -7, New Delhi dated 20.01.2017 for the Assessment Year 2010-11 wherein dismissing the appeal of the assessee against various disallowances/additions made by the learned The Deputy Commissioner Of Income Tax, Circle – 14 (1), New Delhi are confirmed. Second in ITA No 2191/DEL/2017 against the order of the learned Commissioner Of Income Tax Appeals – 7, New Delhi dated 25/1/2017 wherein the penalty levied u/s 271(1) (c) of the Act by the ld AO of ₹ 1250000000/– is confirmed.

2. The assessee has raised following grounds of appeal in ITA No. 2006/Del/2017 for the Assessment Year 2010-11 against the order of the CIT – A [7] , New Delhi dated 20/1/2017 wherein the assessee preferred an appeal against the order of The Deputy Commissioner of Income tax , Circle 14 (1) , New Delhi [ The learned assessing officer/ AO] passed under section 143 (3) of The Income Tax Act 1961 [ The Act] on 15 March 2013
wherein the returned loss of assessee of Rs. 2258653756/– as per return dated 8/10/2010 was assessed at Rs. 2054110/–:-

“1.0 That on the facts and circumstances of the case, the Ld. CIT(Appeals) was not justified & grossly erred in confirming disallowance of expenditure incurred towards professional fee of Rs. 2,50,00,000/- in computing total income of the appellant.

To know more in details find the attachment file