ACIT, Bhiwani vs. M/S Vikas Wsp Ltd., Bhiwani
In the result, the appeals of the Revenue and the appeals of the assessee for both the assessment years are dismissed
ITA 4305/DEL/2013[2008-09]Status: DisposedITAT Delhi05 Oct 2015AY 2008-09
Bench: Shri G.C. Gupta Before Shri G.C. Gupta, Vice Before Shri G.C. Gupta Before Shri G.C. Gupta , Vice & Shri Shri Prashant Maharishi Shri Shri Prashant Maharishi Prashant Maharishi, , , , Accountant Prashant Maharishi Accountantmember Member
Section 140A(3)Section 221(1)
…to 10% of the outstanding demand. He relied on the decision of Cochin Bench of the Tribunal in Hope Micro Credit Finance (P) Ltd. Vs. ACIT – [2014] 47 taxmann.com 422 (Cochin-Trib.), of Mumbai Bench of the Tribunal in Diamondstar Exports Ltd. Vs. ITO – [2014] 147 ITD 59 (Mumbai-Trib.), of Hon’ble Madras High Court in 5 ITA-4304/D/2013 & 3 others Nachimuthu Industrial Association Vs. CIT – [1980] 123 ITR 611 (Mad.) and of Hon’ble Andhra Pradesh High Court in CIT Vs. Sreerama & Co. – [1975] 101 ITR 531 (AP) in support of the case of the Revenue. 8. The learned representative of the assessee has submitted that the…