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

M/s Span Technocrats Builders and Engineers, Ludhiana Vs The ITO, Ward VI(2) Ludhiana
July, 10th 2012
              IN THE INCOME TAX APPELLATE TRIBUNAL
              CHANDIGARH BENCHES `A' CHANDIGARH


           BEFORE SHRI H.L.KARWA, HON'BLE, VICE PRESIDENT
             AND SHRI T.R.SOOD, ACCOUNTANT MEMBER


                             ITA No. 591/Chd/2012
                            Assessment Year: 2008-09


M/s Span Technocrats Builders and            Vs    The ITO,
Engineers,                                         Ward VI(2)
Ludhiana                                           Ludhiana

PAN No. AACFV7746E


(Appellant)                                        (Respondent)

                    Appellant By             : Shri Sudhir Sehgal
                    Respondent By            : Shri N.K. Saini

                    Date of hearing       : 05.07.2012
                    Date of Pronouncement : 06.07.2012







                                     ORDER


PER H.L.KARWA, VP


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

CIT(A)-II, Ludhiana dated 26.3.2012 relating to assess ment year 2008-09.


      2.      Shri Sudhir Sehgal, Advocate, Ld. Couns el for the assessee vide

his application dated 5.7.2012 stated as under:-

              "To

              The Hon'ble Members,
              ITAT, Chd Bench,
              Chandigarh
            Sir,

            Reg:    Span Technocrafts Builders & Engineering, Ludhiana
                   ITA No. 591/Chd/2012
                   Assessment year 2008-09


            I have to very humbly submit that I wish to withdr aw the
            appeal and as such, the permission for the same may be
            granted and oblige.


            Thanking you,

                                                            Yours faithfully

                                                                       Sd/-
                                                              Sudhir Sehgal

            Dated. 5.7.2012"


3.    In view of the above Application, We grant permission to the assessee

to withdraw the above appeal. Consequently, the appeal stands dismissed as

`withdrawn'.


4.    In the result, appeal is dismissed.


      Order Pronounced in the Open Court on this 6 t h day of July, 2012



      Sd/-                                             Sd/-
   (T. R. SOOD)                                     (H.L.KARWA)
ACCOUNTANT MEMBER                                 VI CE PRESIDENT
Dated : 6 t h July, 2012
Rkk
Copy to:
  1.       The Appellant
  2.       The Respondent
  3.       The CIT
  4.       The CIT(A)
  5.       The DR
                          True Copy
                                                 By Order

                                             Assistant Registrar





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