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

NANAK RAM JAISINGHANI, C/O RAJ KUMAR & ASSOCIATES, CHARTERED ACCOUNTANTS, L-7A (LGF), SOUTH EXTENSION, PART-2, NEW DELHI vs. ITO, WARD 13(1), NEW DELHI
January, 13th 2021

BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER

AND

SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER

ITA No. 3247/Del/2017

Assessment Year : 2011-12

Appellant by : Sh. Sachin Jain, CA

Respondent by : Sh. Bhopal Singh, Sr. DR.

 

ITA NO. 3247/DEL/2017

IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI FRIDAY BENCH ‘E’ : NEW DELHI
(Through Video Conferencing)

BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER
AND

SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER

ITA No. 3247/Del/2017
Assessment Year : 2011-12

NANAK RAM JAISINGHANI, Vs. ITO, WARD 13(1),

C/O RAJ KUMAR & NEW DELHI

ASSOCIATES,

CHARTERED ACCOUNTANTS,

L-7A (LGF),

SOUTH EXTENSION, PART-2,

NEW DELHI – 110 049

(PAN: AAFPJ7461F)

(Appellant) (Respondent)

Appellant by : Sh. Sachin Jain, CA
Respondent by : Sh. Bhopal Singh, Sr. DR.

ORDER

PER H.S. SIDHU, JM :

The captioned appeal by the assessee is preferred against the order

of the Ld. CIT(A)-38, New Delhi for the assessment year 2011-12.

2. At the very outset, Ld. Counsel for the assessee stated that the

Appellant has moved an Application under the Vivad Se Vishwas Scheme,

2020 to settle the dispute.
ITA NO. 3247/DEL/2017

3. On such note, we dismiss the captioned appeal with the liberty to

the Appellant to approach the Tribunal for the revival of the appeal, if for

some reason the dispute is not settled under the Vivad Se Vishwas

Scheme, 2020.

4. With the above directions, the appeal of the assessee is dismissed.

Above decision was announced in the presence of both the parties
on conclusion of Virtual Hearing on 13th January, 2021.

Sd/- Sd/-

(PRASHANT MAHARISHI) (H.S. SIDHU)
ACCOUNTANT MEMBER JUDICIAL MEMBER

SRB.

Copy forwarded to: -

1. Appellant

2. Respondent

3. CIT

4. CIT(A)

5. DR, ITAT

Assistant Registrar
ITA NO. 3247/DEL/2017

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