PHI SEEDS PVT. LTD. (Now known as Corteva Agriscience Seeds Private Limited) Vs DCIT, CIRCLE 19(2), New Delhi

Parties Involved

Facts Summary

The assessee filed its return of income on 30.11.2012 for the assessment year 2012-13 declaring the income of Rs. 24,25,31,318/-. The case was selected for scrutiny assessment. Order u/s. 143(3) was passed on 23.3.2016, by assessing the income at Rs. 128,32,21,949/- after addition of Rs. 100,87,51,183/- as business income as against exempt agricultural income claimed by the assessee u/s. 10(1) of the Act and income from other sources. Against the above, assessee preferred the appeal before the Ld. CIT(A), who vide his impugned order dated 03.10.2017 upheld the action of the AO. Aggrieved, assessee is in appeal before the Tribunal.…

Legal Issues

• 1. Whether the Ld. CIT(A) erred in law in upholding the order passed by the AO rejecting the assessee’s claim of deduction u/s. 10(1) of the Act.
• 2. Whether the CIT(A) passed the order without application of mind and without considering the evidence on record.
• 3. Whether the CIT(A) erred in not passing a reasoned order.
• 4. Whether the orders passed by the AO and the CIT(A) are illegal as these orders have been passed without application of mind and in gross violation of principles of natural justice.
• 5. Whether the AO wrongly invoked the provisions of section 144C which related to a reference to the Dispute Resolution Panel.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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