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

Virtual Builder Pvt. Ltd.,M-11, Middle Circle, Connaught Circus, New Delhi. Vs ACIT, Cent. Circle 23, New Delhi.
January, 15th 2015
ITA No. 1772/D/2013
Asstt.Year: 2007-08

              IN THE INCOME TAX APPELLATE TRIBUNAL
                   DELHI BENCHES `H' NEW DELHI

       BEFORE SHRI J.SUDHAKAR REDDY, ACCOUNTANT MEMBER
                        AND
          SHRI CHANDRAMOHAN GARG, JUDICIAL MEMBER

                      ITA NO. 1772/DEL/2013
                      ASSTT.YEAR: 2007-08

Virtual Builder Pvt. Ltd.,        vs     ACIT,
M-11, Middle Circle,                     Cent. Circle 23,
Connaught Circus,                        New Delhi.
New Delhi.
(PAN: AABCV8989M)
 (Appellant)                             (Respondent)
                              Appellant by: Mr. Ajay Bhagwani, CA
                             Respondent by: Shri J.P. Chandrakar, Sr. DR

                             O R D E R

PER CHANDRAMOHAN GARG, J.M.

       This appeal has been filed by the assessee against the order of the

CIT(A)-XXXIII, New Delhi dated 24.12.2012 in Appeal No. 491/09-10/280

for AY 2007-08.







2.     At the very outset, ld. Assessee's representative submitted that the

assessee does not want to press this appeal and, therefore, the assessee may

kindly be permitted to withdraw this appeal.        Ld. DR submitted that the

department has no objection if the assessee is allowed to withdraw this appeal.




                                                                                  1
ITA No. 1772/D/2013
Asstt.Year: 2007-08

3.        On careful consideration of above, the prayer of the assessee is allowed

and appeal of the assessee is dismissed as withdrawn.







          Order pronounced in the open court on 12.1.2015.


       Sd/-                                         Sd/-
 (J.S. REDDY)                                 (CHANDRAMOHAN GARG)
ACCOUNTANT MEMBER                                JUDICIAL MEMBER

DT. 12th JANUARY 2015
`GS'


Copy forwarded to:-

     1.   Appellant
     2.   Respondent
     3.   C.I.T.(A)
     4.   C.I.T. 5. DR
                                                     By Order



                                                  Asstt. Registrar




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