News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
« From the Courts »
 The Income Tax Officer, Ward-14(3), Room No.305, C.R. Building, New Delhi. Vs. M/s. KEI Industries Ltd., D-90, Okhla Industrial Area, Phase-I, New Delhi.
 Dy. Commissioner of Income Tax, Central Circle-32, New Delhi vs. M/s Utkarsh Realtech Pvt. Ltd. M-11,Middle Circle, Connaught Circus, New Delhi
 Freak Buildcon Pvt. Ltd. Sabharwal & Partners, Advocates, Delhi High Court, 4819/24, Ansari Road, Daryaganj, New Delhi. Vs. ACIT Central Circle 28, New Delhi.
 M/s. Marudhara Marketing Pvt. Ltd., C/o Ravi Gupta, Advocate, E – 6A, Kailash Colony, New Delhi – 110 048. Vs. ACIT, Central Circle 30, New Delhi.
 Dy. Commissioner of Income Tax, Circle-2(1)(2), (Intl. Tax), New Delhi. Vs. Shri Naresh Kumar, C/o Dewan P.N. Chopra & Co. D-295, Defence Colony, New Delhi-110024.
 M/s. Emergent Ventures India Pvt. Ltd., 11th Floor, Vatika Professional Point, Sector-66, Golf Course Extension Road, Gurgaon Vs. ACIT, Range-1, Gurgaon
 DCIT, Circle-2(1), New Delhi Vs. M/s. BBC Worldwide (India) Pvt. Ltd, 518- 522, World Trade Centre, Baba Road, New Delhi
 CRM Services India Pvt. Ltd., 220, Vinobha Puri, Lajpat Nagar-II, New Delhi. Vs. ACIT, Circle-6(2), CR Building, New Delhi
 Reed & Pick Impex (P) Ltd., Opposite ITI, GT Road, Panipat Haryana – 132103 Vs. ITO, Ward-5, Panipat
 Alcatel Lucent India Ltd. (β€˜ALIL’) 202-206, Tolstoy House, Tolstoy Marg, New Delhi Vs. Addl CIT, Special Range-1, Room No. 159A, C.R. Building, I.P. Estate, New Delhi-110001
 Whirlpool of India Ltd., Plot No. 40, Whirlpool House, Sector-44, Gurgaon-122002, Haryana vs. Asstt. Commissioner of Income Tax, Circle-1, LTU, Delhi

Shipra Estate Ltd. and Jai Krishan Estate Developers Pvt. Ltd., Delhi. vs. ACIT, Circle 58(1), New Delhi.
June, 14th 2019
                  In the Income-Tax Appellate Tribunal,
                        Delhi Bench `G', New Delhi

              Before : Shri H.S. Sidhu, Judicial Member And
                       Shri B.R.R. Kumar, Accountant Member

                         ITA No. 2232/Del/2019
                        Assessment Year: 2010-11

        Shipra Estate Ltd. and Jai Krishan    vs. ACIT, Circle 58(1),
        Estate Developers Pvt. Ltd., Delhi.       New Delhi.
        PAN- ABGFS9748C
        (Appellant)                                (Respondent)

                 Appellant by        Sh. Prateek Gupta and
                                     Sh. Pancham Sethi, CA
                 Respondent by       Sh. N.K. Bansal, Sr. DR

                  Date of Hearing              12.06.2019
                  Date of Pronouncement        13.06.2019

Per B.R.R. Kumar, A.M.:
      In this case, the assessment has been completed on 14.02.2013
disallowing the deduction of Rs.9,87,39,565/- claimed by the assessee u/s.
80IB. The matter travelled upto the ITAT wherein the ITAT adjudicated the
matter on 26.04.2018 with the directions to re-compute the deduction after
examination of the issue afresh and determine the deduction.

2.   Before us, it was brought to our notice that the Assessing Officer has
issued notice u/s. 142(1) of the IT Act on 10.06.2019 to the assessee and the
proceedings in response to the order of the ITAT are still pending before the
                                                            ITA No. 2232/Del/2019          2

Assessing Officer. Since the core issue of deduction under section 80IB has
been remanded back to examine the issue afresh, the penalty levied by the
Assessing Officer vide order dated 29.03.2017 is hereby set aside. The
department would be at liberty to levy penalty after conclusion of the
proceedings by the assessing officer as directed by this Tribunal vide order
dated 26.04.2018
3. In the result, the appeal is allowed. Order pronounced in the open court. Sd/- Sd/- (H.S. Sidhu) (B.R.R. Kumar) Judicial member Accountant Member Dated: 13.06.2019 *aks* Copy of order forwarded to: (1) The appellant (2) The respondent (3) Commissioner (4) CIT(A) (5) Departmental Representative (6) Guard File By order Assistant Registrar Income Tax Appellate Tribunal Delhi Benches, New Delhi
Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions