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

M/s Sawhney Brothers, A-14, Nizamuddin West, New Delhi-110013 Vs Assistant Commissioner of Income Tax, Circle-32(1), C. R. Building, I. P. Estate, New Delhi
March, 03rd 2014
       IN THE INCOME TAX APPELLATE TRIBUNAL
             DELHI BENCH: `G' NEW DELHI
     BEFORE SHRI R. S. SYAL, ACCOUNTANT MEMBER
                           AND
           SHRI A. D. JAIN, JUDICIAL MEMBER
                       ITA No. 4516/Del/2012
                  (ASSESSMENT YEAR-2004-05)
M/s Sawhney Brothers,         Vs Assistant Commissioner of Income Tax,
A-14, Nizamuddin West,           Circle-32(1), C. R. Building, I. P. Estate,
New Delhi-110013                 New Delhi
(APPELLANT)                        (RESPONDENT)
PAN No. AABFS7303M

     Assessee by:             None
     Revenue by:              Shri S. N. Bhatia
     Date of Hearing          24.2.2014
     Date of Pronouncement    24.2.2014

                               ORDER

PER R. S. SYAL, AM:

      This appeal by the assessee is directed against the order dated
7.5.2012 passed by the ld. CIT(A) in relation to the assessment
year 2004-05. Despite sending notice of hearing sufficiently in
advance, neither assessee attended nor any application for
adjournment has been received. It is thus inferred that the assessee
is not interested to prosecute this appeal.
2. Having regard to Rule 19(2) of ITAT Rules and following various decisions of Delhi Bench of the Tribunal including that of Multiplan India Ltd.; 38 ITD 320 (Delhi) and Hon'ble Madhya Pradesh high Court's decision in Estate of Late Tukojirao Holkar 2 ITA No. 4516/Del/2012 Sawhney Brothers Vs CWT; 223 ITR 480 (MP), we treat this appeal as unadmitted and dismiss the same.
3. As a result, the appeal of the assessee is dismissed. Order pronounced in the open court at the time of hearing i.e. on 24.02.2014. Sd/- Sd/- (A. D. JAIN) (R. S. SYAL) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated: 24/02/2014 *Subodh* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR
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