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

Samsung India Electronics Pvt. Ltd, 3rd Floor, Tower-C, Vipul Tech Square, Sector-43, Golf Course Road, Gurgaon vs. Samsung India Electronics Pvt. Ltd, 3rd Floor, Tower-C, Vipul Tech Square, Sector-43, Golf Course Road, Gurgaon
July, 23rd 2019
                    INCOME TAX APPELLATE TRIBUNAL
                    DELHI BENCH "Friday": NEW DELHI
              BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER
                                 AND
            SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER

                          SA No. 736 & 737/Del/2019
                  (In ITA No. 52/Del/2013 & 1567/Del/2014)
                    (Assessment Year: 2008-09 and 2009-10)
     Samsung India Electronics Pvt.    Vs.           Addl. CIT,
                   Ltd,                              Range-7,
     3rd Floor, Tower-C, Vipul Tech                  New Delhi
     Square, Sector-43, Golf Course
             Road, Gurgaon
           PAN: AAACS5123K
                (Appellant)                        (Respondent)


               Assessee by :                Shri Himanshu Singha, Adv
                                             Smt Vrinda Tulshan, Adv
               Revenue by:                   Shri N. K. Bansal, Sr. DR
             Date of Hearing                       12/07/2019
          Date of pronouncement                    12/07/2019


                                   ORDER

PER PRASHANT MAHARISHI, A. M.

1.   These are the two stay petitions filed by the assessee seeking extension of
     the stay for Assessment Year 2008-09 and 2009-10, which were earlier
     granted to the assessee.
2. The reasons for seeking extension says that appeals for Assessment Year 2005-06 to 2011-12 of the assessee are already heard on 14.01.2019 and there is no change in the facts and circumstances of the case from the date the original stay granted to the assessee as per order dated 29.01.2019. 3. The ld AR also submitted that as the appeals are heard and the orders are awaited, stay should be extended. Orders are awaited.
4. The ld DR objected to the application of the assessee. 5. We have carefully considered the rival contentions and find that appeals by the assessee for Assessment Years 2005-06 to 2011-12 are already heard and orders are awaited. Admittedly, there is no change in the facts and circumstances of the case and therefore, we extend the stay granted to the Page | 1 assessee on the same terms and conditions as per order dated 28.01.2019 for a period of 180 days or till the disposal of appeal, whichever is earlier. 6. Accordingly, both the stay petitions filed by the assessee are allowed. Order pronounced in the open court on 12/07/2019. -Sd/- -Sd/- (AMIT SHUKLA) (PRASHANT MAHARISHI) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated: 12/07/2019 A K Keot Copy forwarded to 1. Applicant 2. Respondent 3. CIT 4. CIT (A) 5. DR:ITAT ASSISTANT REGISTRAR ITAT, New Delhi Page | 2
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