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

M/s Authentic Team Leather Pvt.Ltd.E-18,Krishnano Park,Gali.1,Old Mahavir Nagar New Delhi Vs ITO,Ward-2(2),New Delhi.
June, 21st 2012
     IN THE INCOME TAX APPELLATE TRIBUNAL: `A' BENCH ,NEW DELHI
         (BEFORE S/SHRI SHRI U.B.S.BEDI ,JM & A.N.PAHUJA, AM )
                         ITA no. 5673/Del/2011
                         Asstt. Year:- 2007-08

     M/s Authentic Team Leather Pvt. Vs          ITO,Ward-2(2) ,
     Ltd.   ,E-18,Krishna   Park,Gali             New Delhi.
     no.1,Old Mahavir Nagar
     New Delhi
     [PAN:AACCA4213C]

                (Appellant)                           (Respondent)

                            Assessee by   :   None
                            Revenue by    :   Smt. Anusha Khurana , DR

                            Date of Hearing:-       19-06-2012
                            Date of Pronouncement:- 19-06-2012
                                      ORDER

A.N. PAHUJA:          This appeal filed on 19.12.2011 by the assessee against an
order dated 14-09-2011 of the ld. CIT(A), Delhi-V, raises     grounds relating to
levy of penalty of `30,126/-u/s 271(1)(c) of the Income-tax Act,1961[hereinafter
referred to as the `Act']







2.     None appeared on behalf of the assessee when the appeal was called for
hearing nor any request for adjournment was filed. Earlier also none appeared
on behalf of the assessee on 21.2.2012. In these circumstances, it , therefore,
appears that the assessee is not interested in pursuing this appeal. Accordingly,
following the decision of the Delhi Bench of the Tribunal in the case of Multiplan
(India) Pvt. Ltd. Vs CIT [38 ITD 320] (Del) and the decision of the Hon'ble
Madhya Pradesh High Court in the case of Estate of Late Tukojirao Holkar Vs
CWT [(1996) 223 ITR 480 (MP)], this appeal filed by the assessee is dismissed,
in limine.


      Sd/-                                                          Sd/-
  (U.B.S.Bedi)                                                 (A.N. Pahuja)
Judicial Member                                              Accountant Member
New Delhi
                                 2                ITA no.5673/Del/2011


Copy of the order forwarded to :
The Assessee/CIT concerned/CIT(A)-V,New Delhi /ITO,Ward-2(2), New
Delhi/DR/ Guard file
                                                            By order

                         Deputy Registrar of ITAT, New Delhi Bench





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