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

The ITO, Ward-4(1), New Delhi vs. Jindal Reality Pvt.Ltd. Flat No.1104, 11th Floor, Hemkunt Chamber, 89th Nehru Place, New Delhi
August, 19th 2020

The present three appeals filed by assessee and the Revenue are against separate orders of CIT(A)-VII, New Delhi dated 16.08.2010; CIT(A)-17, New Delhi dated 22.01.2016; and CIT(A)-VIII, New Delhi dated 23.05.2014 relating to assessment years 2007-08 to 2009-10 respectively against the orders passed under section 143(3) of the Income-tax Act, 1961 (in short ‘the Act’).


2. The bunch of appeals relating to the same assessee on similar issues were heard together and are being disposed off by this consolidated order for the sake of convenience. In order to adjudicate the issue, we first take up the appeal relating to Assessment Year 2007-08.

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