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

M/s. Unique Gem & Jewellery Unit-A, Exhibit-2, Business Park, Model Ind. Colony, Off Aarey Road, Goregaon(E) Mumbai- 400 063 Vs. ACIT 24(3), Mumbai
May, 04th 2015
                  IN THE INCOME TAX APPELLATE TRIBUNAL,
                       MUMBAI BENCHES "H", MUMBAI

          BEFORE S/SHRI I.P. BANSAL, JM &, R C SHARMA, AM
                            S A No.155 /Mum/2015
           [Arising out of ITA NO.1825/MUM/2014 (A.Y.2010-11)]

     M/s. Unique Gem & Jewellery          Vs.    ACIT 24(3),
     Unit-A, Exhibit-2, Business                 Mumbai
     Park, Model Ind. Colony,
     Off Aarey Road, Goregaon(E)
     Mumbai- 400 063
     PAN AACFL3067H
               (Applicant)                                (Respondent)

             Applicant by        :      Shri K Gopal
             Respondent by       :      Smt. Neelima Nadkarni

      Date of Hearing : 01.05.2015         Date of Pronouncement : 01.05.2015


                                     ORDER
Per I P Bansal, JM :

      Vide the stay application filed above, the assessee is seeking extension of stay,
which was earlier granted by the Tribunal vide order dated.24.10.2014.







2.    It is the case of the assessee that appeal has already been heard on 24.04.2015
and order is awaited and, thus, it was pleaded by the learned AR that stay earlier
granted should be extended for a further period of six months.


3.    In this view of the situation, after hearing both the parties, as the appeal has
already been heard, we extend the stay up to the date of the order passed in the
impugned appeal or for a period of four months, whichever is earlier.
                                         2                                 SA 155/M/15
                                                                 Unique Gem & Jewellery


4.    The stay application filed by the assessee is disposed of in the manner
aforestated.







      Order pronounced in the open court on this 1st May 2015.


              Sd/-                                       Sd/-
        (R C Sharma)                                (I P Bansal)
       ACCOUNTANT MEMBER                          JUDICIAL MEMBER

MUMBAI, Dt : 1st May, 2015

SA


Copy forwarded to :
   1. The Applicant
   2. The Respondent
   3. The C.I.T, concerned
   4. The CIT (A)-concerned
   5. The DR, "H" Bench, Mumbai
                                                     BY ORDER
               //True Copy//
                                                 ASSISTANT REGISTRAR
                                             ITAT, Mumbai Benches, Mumbai

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