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

Akshay Software Technologies Ltd.,Unit 214, Bldg. No.2, Millenium Business Park, Mahape,Navi Mumbai-710 VS. I.T.O. Ward 8(1)(1), Mumbai. (Appellant)
September, 03rd 2012
                      IN THE INCOME TAX APPELLATE TRIBUNAL,
                              MUMBAI BENCH `A' BENCH

                BEFORE SHRI B.R.MITTAL(JUDICIAL MEMBER) AND
                 SHRI B.RAMAKOTAIAH (ACCOUNTANT MEMBER)

                                 ITA No.3079/Mum/2011
                                Assessment Year: 2006-07
Akshay Software Technologies Ltd.,          I.T.O. Ward 8(1)(1),
Unit 214, Bldg. No.2, Millenium             Mumbai.
Business Park, Mahape,
Navi Mumbai-710                        Vs.

PA No.AAACA 4778 Q
(Appellant)                                   (Respondent)

                             Appellant by : Shri H.P.Sutar
                             Respondent by: Shri T.D.singh

Date of hearing:              22.8.2012
Date of pronouncement:         31 . 8 .2012






                                       ORDER

Per B.R.Mittal, JM:

       The assessee has filed this appeal for assessment year 2006-07 against order
dated 3.1.2011 of ld CIT(A) -16, Mumbai.


2.     At the time of hearing, ld A.R. filed a letter dated 21st August, 2012 stating that
assessee does not wish to pursue the appeal and hence wants to withdraw the appeal.
Copy of the said letter is placed on record. Ld D.R. has no objection to accept the
contention of assessee.


3.     In view of above submissions of assessee, we dismiss the appeal of the assessee
as withdrawn.







       Pronounced in the open court on         31st August, 2012



                  Sd/-                                             Sd/-
           (B.RAMAKOTAIAH)                                    (B.R. MITTAL)
           Accountant Member                                 Judicial Member

Mumbai, Dated      31st August, 2012
                                       2                      ITA No.3079/Mum/2011
                                                            Assessment Year: 2006-07



Parida

Copy to:
1. The appellant
2. The respondent
3. Commissioner of Income Tax (Appeals),16, Mumbai
4. Commissioner of Income Tax, 8 , Mumbai
5. Departmental Representative, Bench `A' Mumbai

//TRUE COPY//                                        BY ORDER


                                        ASSTT. REGISTRAR, ITAT, MUMBAI
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