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

Kurele Pan Products Pvt. Ltd., C-17C, Top Floor, Mandawali, New Delhi-110092. Vs. DCIT, Central Circle-23, New Delhi-110002.
May, 05th 2015
               IN THE INCOME TAX APPELLATE TRIBUNAL
                     DELHI BENCH: `D' NEW DELHI

             BEFORE SMT DIVA SINGH, JUDICIAL MEMBER
                               AND
             SH. INTURI RAMA RAO, ACCOUNTANT MEMBER

                           I.T.A .No.-1211/Del/2012
                         (ASSESSMENT YEAR-2006-07)

        Kurele Pan Products Pvt. Ltd.,   vs   DCIT,
        C-17C, Top Floor, Mandawali,          Central Circle-23,
        New Delhi-110092.                     New Delhi-110002.
        PAN-AAACK0043J
        (APPELLANT)                           (RESPONDENT)

                   Appellant by    Application Rejects
                   Respondent by   Sh.Gaurav Dudeja, Sr. DR

                       Date of Hearing        30.04.2015
                    Date of Pronouncement     30.04.2015

                                   ORDER
PER DIVA SINGH, JM

      By the present appeal the assessee assails the correctness of the order
dated 30.12.2011 of CIT(A)-XXXIII, New Delhi pertaining to 2006-07
assessment year.
2.    However, at the time of hearing, an adjournment was moved on behalf
of the Ld. AR. Considering the material available on record, the same was
rejected. The record shows that on each of the dates when the appeal came
up for hearing, it has been adjourned on the request of the assessee. The
appeal came up for hearing on 10.05.2012; 13.05.2013; 16.12.2013;
03.07.2014; 05.02.2015 and on each of these dates it was adjourned on the
request of the assessee.    Whereas on 10.05.2012 time was sought for
obtaining relevant documents to file a Paper Book; on 13.05.2013 the arguing
counsel was claimed to be out of station prior to the date of hearing as such
time was sought to prepare; on 16.12.2013 adjournment was moved on the
ground that the counsel was out of station; on 03.07.2014 adjournment was
moved on the ground that a short adjournment was required due to personal
difficulty; on 05.02.2015 adjournment was moved on the ground that there
                                      2                    I.T.A .No.-1211/Del/2012







has been a demise in the family of the arguing counsel and on 30.04.2015 i.e
the date of hearing, adjournment on identical ground has been moved. It is
seen on record that no Paper Book till date has been filed on behalf of the
assessee as per the request made on 10.05.2012. In these afore-mentioned
peculiar facts and circumstances, it is safely presumed that the assessee is
not serious in pursuing the present appeal as neither Paper Book is filed nor
has anyone put in an appearance on half a dozen dates when the appeal has
come up for hearing for which repeatedly costs have been incurred for
sending notices to the assessee on various dates. Accordingly the only
alternative left is to dismiss the appeal of the assessee in limine. Support is
drawn from the order of the Tribunals in Commissioner of Income-Tax vs.
Multi Plan India (P) Ltd.; 38 ITD 320 (Del) and Estate of Late Tukojirao Holkar
vs. CWT: 223 ITR 480 (M.P).
3.     Before parting it is appropriate to add that in case the assessee is able
to show that there was a reasonable cause for non-filing of the Paper Book till
date and was serious in pursuing the appeal then it may if so advised pray for
a recall of this order and decision on merits. The said order was pronounced
on the date of hearing itself in the open Court.
4. As a result, the appeal of the assessee is dismissed. The order is pronounced in the open court on 30th of April 2015. Sd/- Sd/- (INTURI RAMA RAO) (DIVA SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated:30/04/2015 *Amit Kumar* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI
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