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2023 Supreme(Gau) 1120
IN THE HIGH COURT OF GAUHATI, NAGALAND, MIZORAM AND ARUNACHAL PRADESH
Sandeep Mehta, Susmita Phukan Khaund, JJ.
The Commissioner of Income Tax and ors. - Appellants
Versus
M/s Goldstone Cements Limited - Respondent
ITA NO.10,7,9 OF 2022
Decided On : 29-09-2023
Advocate Appeared:
For the Appellant : Mr. S.C. Keyal, Senior Standing Counsel
For the Respondent:Dr. A. Saraf, Senior Advocate, assisted by Mr. P.K. Bora, Advocate
Headnote:
Income Tax Act, 1961 – Section 68 , 153A and 260A – Income Tax – Assessment – Whether, on the facts and circumstances of the case, Hon’ble ITAT, Bench, is justified in holding that notice under Section 153A was issued by Assessing Officer without authority of law and without satisfying the essential jurisdictional fact – Held, Court have no hesitation in holding that Hard Drive GCL–HD–1 collected by the jurisdictional authority during search carried out in premises of assessee in year does not constitute incriminating material so as to justify reopening of assessment of unabated/completed assessments – Concurrent findings of fact recorded by Commissioner of Income Tax (Appeals) vide judgment dated and Income Tax Appellate Tribunal in 3(three) appeals of revenue and cross objections of assessee vide judgment dated cannot be termed to be perverse, illegal or unjustified in any manner – Court are of unhesitant opinion that the appeals herein, do not involve any substantial question of law warranting admission – Appeals dismissed
JUDGMENT :
Sandeep Mehta, J.
Heard Mr. S.C. Keyal, learned senior standing counsel, CBDT, IT (NER) representing the appellants and Dr. A. Saraf, learned senior counsel, assisted by Mr. P.K. Bora, learned counsel for the respondent(s).
2. These 3(three) income tax appeals have been preferred by the revenue under Section 260A of the Income Tax Act, 1961 for challenging the judgment/order dated 10.12.2021 passed by the Income Tax Appellate Tribunal, Gauhati Bench, Virtual Hearing at Kolkata in ITA Nos.126 to 131/GAU/2020 arising from assessment years 2011-12 to 2015-16 and 2017-18. As all the appeals involve identical factual and legal issues, hence, the same have been heard together and shall be decided by this common judgment.
3. The revenue has filed the 3(three) appeals aforestated proposing the following substantial questions of law:-
“ITA No.10/2022
1. Whether, on the facts and circumstances of the case, Hon’ble ITAT, Gauhati Bench, Guwahati is justified in holding that the notice under Section 153A was issued by the Assessing Officer without authority of law and without satisfying the essential jurisdictional fact?
2. Whether, on the facts and circumstances of the case, Hon’ble ITAT, Gauhati Bench, Guwahati was justified in holding that the seized document GCL-HD-1 referred by the Assessing Officer for justifying the additions made under Section 68 of the Act did not constitute ‘incriminating material’?
Proposed substantial question of law as per the Interlocutory Application filed in ITA No.10/2022 –
Whether under the present facts and circumstances of the case seized documents GCL-HD-1 are incriminating materials relevant for making assessment under Section 153A and 153C of the Income Tax Act?
3. Whether, on the facts and circumstances of the case, Hon’ble ITAT, Gauhati Bench, Guwahati was justified in holding that the assessee had discharged its burden of substantiation of the identity, creditworthiness and genuineness of the transactions involving receipt of share application monies?
4. Whether, on the facts and circumstances of the case, Hon’ble ITAT, Gauhati Bench, Guwahati has justified in deleting the addition under Section 68 of share application money of Rs.5,38,35,000/- received from M/s Hari Trafin Private Limited?
ITA No.7/2022
1. Whether, on the facts and circumstances of the case, Hon’ble ITAT, Gauhati Bench, Guwahati was justified in holding that the seized document GCL-HD-1 referred by the Assessing Officer for justifying the additions made under Section 68 of the Act did not constitute ‘incriminating material’?
Proposed substantial question of law as per the Interlocutory Application filed in ITA No.7/2022 –
Whether under the present facts and circumstances of the case seized documents GCL-HD-1 are incriminating materials relevant for making assessment under Section 153A and 153C of the Income Tax Act?
2. Whether, on the facts and circumstances of the case, Hon’ble ITAT, Gauhati Bench, Guwahati was justified in holding that the assessee had discharged its burden of substantiation of the identity, creditworthiness and genuineness of the transactions involving receipt of share application monies?
3. Whether, in the facts and circumstances of the case, Hon’ble ITAT, Gauhati Bench, Guwahati was justified in deleting the addition under Section 68 of share application money of Rs.11,85,00,000/- received from Prefer Infrastructures Private Limited, Capital Steel Trading Private Limited and Consistent Constructions Private Limited?
ITA No.9/2022
1. Whether, on the facts and circumstances of the case, Hon’ble ITAT, Gauhati Bench, Guwahati was justified in holding that the seized document GCL-HD-1 referred by the Assessing Officer for justifying the additions made under Section 68 of the Act did not constitute ‘incriminating material’?
Proposed substantial question of law as per the Interlocutory Application filed in ITA No.9/2022 –
Whether under the present facts and circumstances of the case seized documents GCL-HD-1 are incriminatin
