News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
From the Courts »
 Publishers Cricket League, New Delhi. Vs. CIT(Exemptions). New Delhi.
 Dinesh Kumar Pundir C/o Sh. Dinesh Mohan, Advocate, 2-Anand Vihar, Lane No. 1, Circular Road, Muzaffarnagar Vs. Income Tax Officer, Ward 3(1), Saharanpur
 Rajasugumar Subramani vs. ITO (ITAT Bangalore)
 PCIT vs. Pinaki D. Panani (Bombay High Court)
 Alodie Estates Pvt. Ltd., New Delhi Vs. The ACIT, Central Circle 2, Room No.363, 3rd Floor, E- 2, ARA Centre, Jhandewalan Extn., New Delhi – 110 055.
 M/s. Nutek India Ltd., New Delhi Vs. ACIT, Circle – 18 (2), Delhi.
 P. P. Mahatme, POA Lorna Margaret Pinto vs. ACIT (Bombay High Court)
  17 LPA-Opening Chief Manager Accounts-chartered Accountant - CA
  90 LPA-Opening Chartered Accountant / Finance Manager/ Financial Officers
 BPTP Limited vs. PCIT (Delhi High Court)
 M/s. ATS Infrastructure Ltd., 711/92, Deepali, Nehru Place, New Delhi. PIN – 110 019. Vs. The ACIT, Central Circle, Noida.

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

                                   ORDER
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 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting