M/S RAJSHREE STEELS PVT. LTD.,,DELHI vs. ITO, NEW DELHI
In the result, assessee’s appeal stands allowed, accordingly
ITA 1976/DEL/2013[2007-08]Status: DisposedITAT Delhi10 May 2016AY 2007-08
Bench: Shri S.V. Mehrotra : & Shri C.M. Garg:Asstt. Yr: 2007-08 M/S Rajshree Steels Pvt. Ltd., Vs. Income-Tax Officer, (Now Known As Rajshree Infratech Ward-15(2), New Delhi. (P) Ltd.), 17, Meera Tower (First Floor) Wazirpur Industrial Area, Delhi-110052. Pan: Aaacr 4386 D ( Appellant ) (Respondent) Appellant By : Shri Adhir K. Samal Ca Respondent By : Ms. Kesong Y. Sherpa Sr. Dr Date Of Hearing : 05/05/2016. Date Of Order : 10/05/2016. O R D E R Per S.V. Mehrotra, A.M:
For Appellant: Shri Adhir K. Samal CAFor Respondent: Ms. Kesong Y. Sherpa Sr. DR
Section 133(6)Section 250Section 271(1)(c)Section 50CSection 68
5. Ld. DR relied on the orders of lower revenue authorities.
6. We have heard rival submissions and perused the material available on record. We find that in quantum appeal the ITAT has deleted the addition of Rs. 43,75,000/-, made on account of undisclosed consideration of properties (land), inter alia, holding that provisions of section 50C were
