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

Sareen Sports Industries, Victoria Park, Meerut, Vs. CIT, Meerut
October, 09th 2015
         IN THE INCOME TAX APPELLATE TRIBUNAL
               DELHI BENCH `G', NEW DELHI
        Before Sh. G. C. Gupta, Hon'ble Vice President
                            And
             Sh. O.P.Kant, Accountant Member
                         ITA No.2778/Del./2013
                          Asstt. Year : 2008-09

        Sareen Sports Industries,      Vs. CIT,
        Victoria Park,                     Meerut
        Meerut,
        PAN:AAMFS3450J
        (APPELLANT)                        (RESPONDENT)

                Appellant by : Sh. R.K. Garg, Adv
                Respondent by : Smt. Sunita Kejriwal, CIT DR

Date of Hearing : 01.10.2015        Date of Pronouncement :08.10.2015

                                ORDER

PER O.PKANT,AM.

     This appeal of the assessee is directed against the order of the
learned Commissioner of Income-tax, Meerut passed u/s 263 of the
Income Tax Act, for the assessment year 2008-09.
2. At the outset of the hearing, the learned Authorised Representative of the assessee submitted that the assessee does not wish to press the present appeal as the submission of the assessee have been considered by the learned Assessing Officer, while passing order u/s 143(3) read with section 263 of the Act and therefore the assessee is not having any grievance against the order passed by the 2 ITA No.2778/Del./2013 learned Commissioner of Income-tax (Appeals). He, therefore, prayed to accept the withdrawal of the present appeal. 3. The learned Commissioner of Income-Tax (Departmental Representative) did not object to the said request of the AR.
4. We have gone through the request submitted by the learned Authorised Representative and since the learned Commissioner of Income-Tax (Departmental Representative) does not have any objection, the appeal is allowed to be withdrawn. 5. In the result, the assessee's appeal is dismissed as being infructuous. Order Pronounced in the Court on 08/10/2015. -Sd/- -Sd/- (G.C. Gupta) (O.P.Kant) VICE PRESIDENT ACCOUNTANT MEMBER Dated:08/ 10/2015 *Ajay* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5.DR: ITAT ASSISTANT REGISTRAR
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