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 Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court

Shri Rakshit Shetty,Prop: M/s. Rakshadent,#C-86/94, PIPDIC Industrial Area, Mettupalayam,Puducherry 605 009. Vs. The Assistant Commissioner of Income-tax,Circle-I,
October, 10th 2012
         IN THE INCOME TAX APPELLATE TRIBUNAL
                    `A' BENCH, CHENNAI

     BEFORE Dr. O.K. NARAYANAN, VICE-PRESIDENT
     AND SHRI VIKAS AWASTHY, JUDICIAL MEMBER


             I.T.A.Nos. 1508 to 1512/Mds/2012
  Assessment years : 2001-02 to 2003-04, 2005-06 & 2006-07


Shri Rakshit Shetty,                 The Assistant Commissioner
Prop: M/s. Rakshadent,         Vs.   of Income-tax,
#C-86/94, PIPDIC Industrial          Circle-I,
Area, Mettupalayam,                  Puducherry.
Puducherry ­ 605 009.
PAN ­ ALVPS5573L
    (Appellant)                           (Respondent)


    Appellant by              : None
    Respondent by             : Shri Shaji P. Jacob, IRS, Addl. CIT

    Date of Hearing       : 8th October, 2012
    Date of Pronouncement : 8th October, 2012







                         O R D E R


PER Dr. O.K. NARAYANAN, VICE-PRESIDENT


     This bunch of five appeals are filed by the assessee. The

relevant assessment years are 2001-02, 2002-03, 2003-04, 2005-

06 and 2006-07. These appeals are directed against the common

order passed by the Commissioner of Income-tax(Appeals)-XII at
                                  :- 2 -:      ITA 1508 to 1512/12



Chennai on 30.4.2012.       The appeals arise out of the orders

passed under sec.143(3), read with sec.147, for all the

assessment years except for the assessment year 2002-03, for

which an order has been passed under sec.263 of the Income-tax

Act, 1961.

2.     When the appeals were called on for hearing, nobody was

present for the assessee, in spite of service of notice.

3.     In these circumstances, these appeals are dismissed in

limine for want of prosecution.







       Orders pronounced in the open court at the time of hearing

on Monday, the 8th of October, 2012 at Chennai.




             Sd/-                                    Sd/-
     (VIKAS AWASTHY)                        (Dr.O.K.NARAYANAN)
       Judicial Member                           Vice-President

Chennai,
Dated the 8th October, 2012

mpo*

             Copy to: 1. Appellant
                      2. Respondent
                      3. CIT
                      4. CIT(A)
                      5. DR
                      6. GF.
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