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

Sh. Jugnu Singhal,S/o Sh. Daya Prakash Singhal,192, Nai Mandi Pucca Bagh,Hapur Vs. ITO, Ward 1,Hapur.
September, 04th 2012
                IN THE INCOME TAX APPELLATE TRIBUNAL
                     (DELHI BENCH `D' : NEW DELHI)
              BEFORE SHRI U.B.S. BEDI, JUDICIAL MEMBER AND
                 SHRI T.S. KAPOOR, ACCOUNTANT MEMBER

                                     ITA No.1228/Del./2012
                                 (Assessment Year : 2007-08)

Sh. Jugnu Singhal,                    Vs.             ITO, Ward 1,
S/o Sh. Daya Prakash Singhal,                         Hapur.
192, Nai Mandi Pucca Bagh,
Hapur
(PAN/GIR No.AVFPS8968M)

(Appellant)                                           (Respondent)

                             Assessee by : None
                        Revenue by : Shri Shumana Sen, Sr.DR







                                      ORDER


PER U.B.S. BEDI, J.M.


       This appeal of the assessee emanates from the order of the CIT (A)-XVI,
Ghaziabad dated 27.01.2012, relevant to assessment year 2007-08.


2.     Despite sending notice of hearing sufficiently in advance, neither assessee
attended nor any adjournment request has been received. Thus, it is inferred that the
assessee is not interested in prosecution of the present appeal.


3.     Having regard to Rule 19(2) of ITAT Rules, 1963 and following various decisions
of the Tribunal including in the case of CIT vs. Multiplan India (P) Ltd., reported in 38
ITD 320 (Del.) and the judgment of Hon'ble Madhya Pradesh High Court in the case of
Estate of late Tukojirao Holkar vs. CWT, 223 I.T.R. 480 (MP), we treat the appeal of the
assessee as unadmitted and dismiss the same.
                                            2                   I.T.A. No.1228/Del./2012
                                                                         (A.Y. : 2007-08)
4.    As a result, the appeal filed by the assessee is dismissed for want of prosecution.
      Order pronounced in open court soon after the conclusion of the hearing on
03.09.2012.








              Sd/-                                                  Sd/-
      (T.S. KAPOOR)                                              (U.B.S. BEDI)
 ACCOUNTANT MEMBER                                             JUDICIAL MEMBER
Dated : Sept.        03, 2012
SKB
Copy of the order forwarded to:-
   1. Appellant
   2. Respondent
   3. CIT
   4. CIT(A), Ghaziabad.
   5. CIT(ITAT)                                             Deputy Registrar, ITAT
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