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

ITO, Ward-8(1), New Delhi. vs SGE Advisors (India) Pvt. Ltd., 9th Floor, Meridian Commercial Tower, Raisina Road, New Delhi-110001
August, 28th 2018

Subject: The appeal filed by the Revenue is directed against the order passed

Section 268 A of the Income Tax Act,

ITA No. 5116/Del/2014
Assessment year 2011-12


            IN THE INCOME TAX APPELLATE TRIBUNAL
                  DELHI BENCH `E' NEW DELHI

        BEFORE SHRI G.D. AGRAWAL, HON'BLE PRESIDENT
                            AND
        SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER

                           ITA No. 5116/Del/2014
                           Assessment year: 2011-12

ITO,                       vs    SGE Advisors (India) Pvt. Ltd.,
Ward-8(1),                       9th Floor, Meridian Commercial Tower,
New Delhi.                       Raisina Road, New Delhi-110001
                                 (PAN: AAACS8138C)
(Appellant)                       (Respondent)

                            Appellant by:   Shri N.K. Jiwani, Sr. DR
                          Respondent by:    None

                    Date of hearing: 17.08.2018
              Date of pronouncement: 27.08.2018

                                  ORDER


PER SUDHANSHU SRIVASTAVA, J.M.

       The appeal filed by the Revenue is directed against the order

passed by the Ld. CIT(Appeals)-XI, New Delhi dated 3.7.2014 for

A.Y. 2011-12.






2.   None appeared on behalf of the assessee. Admittedly, the tax

effect in this appeal is below the monetary limit of Rs. 20 lakhs.

3.      In terms of CBDT Circular No. 3/2018 dated 11th July,

2018 read with Section 268 A of the Income Tax Act, 1961, this

appeal by the Revenue should have been withdrawn or should



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 ITA No. 5116/Del/2014
 Assessment year 2011-12


 not have been pressed by the Revenue.          In view of the said

 Circular, the appeal by the Revenue is dismissed in limine.






 4.    In the result, the appeal of the revenue stands dismissed.

      Order pronounced in the open court on 27th August, 2018.


      Sd/-                                   Sd/-
(G.D. AGRAWAL)                         (SUDHANSHU SRIVASTAVA)
 PRESIDENT                                JUDICIAL MEMBER

 Dated: 27th AUGUST, 2018
 `GS'

 Copy forwarded to: -
 1.  Appellant
 2.  Respondent
 3.  CIT 4.CIT(A)
 4.   DR, ITAT
                                            By Order


                                        ASSTT. REGISTRAR




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ITA No. 5116/Del/2014
Assessment year 2011-12


Date of dictation

Date on which the typed draft is placed before the
dictating Member
Date on which the typed draft is placed before the Other
Member

Date on which the approved draft comes to the Sr.PS/PS
Date on which the fair order is placed before the
Dictating Member for pronouncement

Date on which the fair order comes back to the Sr.PS/PS
Date on which the final order is uploaded on the website
of ITAT
Date on which the file goes to the Bench Clerk
Date on which the file goes to the Head Clerk

The date on which the file goes to the Assistant
Registrar for signature on the order
Date of dispatch of the Order
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