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

M/s Sambhav Buildcon (P) Ltd., C-1/3, D-1, Model Town, A-330, Derawal Nagar, Delhi-110009 Vs ADDL, CIT-R-7 New Delhi
April, 11th 2014
       IN THE INCOME TAX APPELLATE TRIBUNAL
             DELHI BENCH: `F' NEW DELHI
     BEFORE SHRI R. S. SYAL, ACCOUNTANT MEMBER
                          AND
         SHRI A. T. VARKEY, JUDICIAL MEMBER
                      ITA No. 3519/Del/2005
                 (ASSESSMENT YEAR-2001-02)
M/s Sambhav Buildcon (P) Ltd., Vs   ADDL, CIT-R-7
C-1/3, D-1, Model Town, A-330,      New Delhi
Derawal Nagar,
Delhi-110009
(APPELLANT)                         (RESPONDENT)
PAN No. AACCS2316Q

     Assessee by:             None
     Revenue by:              Ms Meenakshi Vohra
     Date of Hearing          03.04.2014
     Date of Pronouncement    03.04.2014
                               ORDER

PER R. S. SYAL, AM:

     This appeal by the assessee is directed against the order
passed by the ld. CIT(A) in quantum proceedings in relation to the
assessment year 2001-02. 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. 3519/Del/2005
                                                Sambhav Buildcon (P) Ltd.

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 03.04.2014.









           Sd/-                               Sd/-
  (A. T. VARKEY)                     (R. S. SYAL)
JUDICIAL MEMBER                  ACCOUNTANT MEMBER

Dated: 03/04/2014
*Subodh*

Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT


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