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

Mayar India Ltd. Plot no. A, Basant Lok Community Vasant Vihar New Delhi Vs. JCIT (OSD) Centre Circle 6(1),C.R.Bldg. New Delhi
June, 04th 2014
                IN THE INCOME TAX APPELLATE TRIBUNAL
                    DELHI BENCHES : "E" NEW DELHI

BEFORE SHRI J.SUDHAKAR REDDY, AM AND SHRI RAJPAL YADAV, JM

                  ITA No: 6050/Del/2012              A.Y. : 2009-10

Mayar India Ltd.                               vs.     JCIT (OSD)
Plot no. A, Basant Lok Community Centre                Circle 6(1),C.R.Bldg.
Vasant Vihar                                           New Delhi
New Delhi
PAN: AAACM 8246 P


(Appellant)                                    (Respondent)

                          Appellant by : Sh. Mukesh Kumar Bansal, C.A.
                          Respondent by: Sh. Keyur Patel, Sr.D.R.

                            ORDER

PER J.SUDHAKAR REDDY, ACCOUNTANT MEMBER

       This appeal is filed by the Assessee directed against the order of the

Ld.CIT(Appeals)-IX, New Delhi dated 6.8.2012         pertaining to the Assessment

Year 2009-10.






2.     We have heard Shri Mukesh Kumar Bansal, the Ld.Counsel for the

assessee and Shri Keyur Patel, Ld.Sr.D.R. on behalf of the Revenue.

3.     This is an ex parte order passed by the Ld.CIT(Appeals). At page 5 of

his order para 2, it is recorded as follows:

              "On 23.7.2012, Shri H.Chakraworthy, accountant appeared and
              asked for adjournment and the case was adjourned to 31.8.2012.
              On this date i.e. 31.8.2012 none appeared, nor any request for
              adjournment was made. Submissions were filed."
The order has been passed on 6.8.2012. Hence in our opinion there is violation

of principles of natural justice.      While the case was adjourned to 31st

August,2012 the order was passed on 6th August,2012.
                                        2

4.    In view of the above, we set aside the issue to the file of Ld.CIT(Appeals)

for a fresh adjudication in accordance with law, after affording the assessee an

adequate opportunity of being heard.






5.    In the result assessee's appeal stands allowed for statistical purposes.

      Order pronounced in the Open Court on 02nd June, 2014.


             Sd/-                                     Sd/-

      (RAJPAL YADAV)                           (J.SUDHAKAR REDDY)
     JUDICIAL MEMBER                          ACCOUNTANT MEMBER


Dated: the 02nd June, 2014

*manga


Copy of the Order forwarded to:
1. Appellant;
2.Respondent;
3.CIT;
4.CIT(A);
 5.DR;
 6.Guard File

                                                          By Order




                                                         Asst. Registrar

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