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

Japan International Co-operation Agency (JICA) New Delhi vs ACIT (Intl. Taxation), Circle 2(1)(2) Room NO. 310 3rd Floor, Block 2, Pratyaksh Kar Bhawan, Civic Centre, New Delhi,
November, 18th 2020

This appeal is filed by the assessee against the order dated 6/4/2017 passed by CIT(A)- 43, for Assessment Year 2012-13.

2. The grounds of appeal are as under:-

Based on the facts and circumstances of the case, the Appellant respectfully submits:

1. “That on facts and circumstances of the case and in law, the Ld C1T(A) has erred in upholding the assessment order passed by Ld AO under section 143(3) for the subject year wherein the income was assessed at Rs. 71,21,390 as against NIL returned income declared by the appellant and is liable to be quashed.

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