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

Smt. Deepika Menon203, D-Swing, Marvey Road Malad (W), Mumbai 400064 Vs. DCIT, Central Circle-45 Mumbai
February, 27th 2015
               IN THE INCOME TAX APPELLATE TRIBUNAL
                          "D" Bench, Mumbai

                 Before Shri D. Manmohan, Vice President
             and Shri D. Karunakara Rao, Accountant Member

                 ITA Nos. 4835, 4836 & 4837/Mum/2013
              (Assessment Years: 2004-05, 2005-06 & 2007-08)

        Smt. Deepika Menon             DCIT, Central Circle-45
        203, D-Swing, Marvey Road  Vs. Mumbai
        Malad (W), Mumbai 400064
                          PAN - AFCPM5736Q
                Appellant                    Respondent

                    Appellant by:     Shri Saral Barlota
                    Respondent by:    Shri Santosh Kumar

                    Date of Hearing:       26.02.2015
                    Date of Pronouncement: 26.02.2015

                                  ORDER

Per D. Manmohan, V.P.

    These appeals are preferred by the assessee against the order dated
28.03.2013 passed by CIT(A)-38, Mumbai on the ground that the CIT(A) has
grossly erred in confirming the penalties levied by the AO under section
271(1)(c) of the I.T. Act in all the three assessment years.






    During the course of hearing the learned counsel for the assessee
moved an application, vide letter dated 24th February, 2015, for withdrawal
of her appeals to which Revenue has no objection. We, therefore, allow
assessee to withdraw her appeals. Accordingly the appeals are dismissed as
withdrawn.

Order pronounced in the open court on 26th February, 2015.

                Sd/-                                      Sd/-
        (D. Karunakara Rao)                         (D. Manmohan)
        Accountant Member                            Vice President

Mumbai, Dated: 26th February, 2015
                                        2                 ITA No. 4835/Mum/2013
                                                               Smt. Deepika Menon






Copy to:

   1.   The   Appellant
   2.   The   Respondent
   3.   The   CIT(A) ­ 38, Mumbai
   4.   The   CIT­ Central-IV, Mumbai City
   5.   The   DR, "D" Bench, ITAT, Mumbai

                                                       By Order

//True Copy//
                                                    Assistant Registrar
                                            ITAT, Mumbai Benches, Mumbai
n.p.

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