ITO, DEHRADUN vs. M/S. UNISON DEVELOPERS PVT. LTD., DEHRADUN
In the result, the appeal of the Revenue is dismissed
ITA 25/DEL/2017[2007-08]Status: DisposedITAT Dehradun03 May 2023AY 2007-08
Bench: Shri Saktijit Dey & Shri M. Balaganeshassessment Year: 2007-08 Ito, Vs Unison Developers Pvt. Ltd., Ward-2(5), C/O Virendra Kalra & Co., Cas, 13A, Subhash Road, 75/7, Rajpur Road, Dehradun. Dehradun. Pan: Aaacu7259C (Applicant) (Respondent) Assessee By : Shri Virendra Kalra, Ca Revenue By : Smt. Poonam Sharma, Addl. Cit Date Of Hearing : 24.04.2023 Date Of Pronouncement : 03.05.2023 Order Per M. Balaganesh, Am: This Appeal In Ita No.25/Ddn/2017 For Ay 2007-08 Arises Out Of The Order Of The Ld. Commissioner Of Income Tax (Appeals), Dehradun In Appeal No.584/Cit(A)/Ddn/2015-16 Dated 28.10.2016 [Hereinafter Referred To As ‘Ld. Cit(A)’, In Short] Against The Order Of Assessment Passed U/S 143(3)/148 Of The Income-Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Dated 31.03.2016 By The Ld. Income-Tax Officer, Ward-2(5), Dehradun (Hereinafter Referred To As ‘Ld. Ao’). 2. The Revenue Has Raised The Following Grounds:- “1. The Ld. Cit(A), Dehradun Has Erred In Law & On Facts In Quashing The Issue Of Notice U/S 148 Rendering The Entire Proceedings As Void-Ab-Initio. 2. The Ld. Cit(A) Has Erred In Law & On The Facts Of The Case In Deleting The Addition Made In The Hands Of The Company On Account Of Share Application Money Which Had Alrightly Been Assessed As Unaccounted Income Of The Assessee Company U/S 68 Of I.T. Act, 1961. 3. The Order Of Ld. Cit (A) Be Set-A-Side Being Erroneous In Law & On Facts & That Of Ao May Be Restored.”
For Appellant: Shri Virendra Kalra, CAFor Respondent: Smt. Poonam Sharma, Addl. CIT
Section 132Section 143(3)Section 147Section 148Section 68
25,000
07.02.2008
Shri Birender Singh
Bhartari, 179/2/2, Rajpur,
Road, Dehradun (PAN
ALMPB1012G)
15,00,000/-
3.750
07.02.2008
Smt Renu Puri,
Vill. Sinola,
Dehradun
(PAN AAJPP1180B)
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2
4. The ld. AO observed that to the aforesaid three parties, shares were allotted at a premium of Rs.390 per share, which was considered to be abnormal. The copy of share allotment register
