ACIT, NEW DELHI vs. M/S. STARLIGHT REALTORS (P) LTD., DELHI
In the result, appeal of the Revenue is dismissed and cross objection of the assessee is allowed
ITA 57/DEL/2014[2006-07]Status: DisposedITAT Delhi29 Jul 2016AY 2006-07
Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2006-07 Acit, Central Circle-3, New Vs. M/S. Starlight Realtors (P) Delhi Ltd., Ba-17A, Dda Flats, Ashok Vihar, Delhi Gir/Pan :Aajcs3398H (Appellant) (Respondent) & C.O. No. 235/Del/2014 [In Ita No. 57/Del/2014] Assessment Year: 2006-07 M/S. Starlight Realtors (P) Vs. Acit, Central Circle-3, New Ltd., Ba-17A, Dda Flats, Delhi Ashok Vihar, Delhi Gir/Pan :Aajcs3398H (Appellant) (Respondent) Department By Smt. Pramita M. Bhishwash, Cit(Dr) Assessee By Sh. S.K. Gupta, Ca Date Of Hearing 30.06.2016 Date Of Pronouncement 29.07.2016 Order Per O.P. Kant, A.M.: This Appeal By The Revenue & The Cross Objection By The Assessee Are Directed Against Order Dated 24/10/2013 Of The Learned Commissioner Of Income-Tax (Appeals)-I, New C.O. No. 235/Del/2014 Ay: 2006-07 Delhi For Assessment Year 2006-07. The Grounds Of Appeal Raised By The Revenue Are As Under: “1. The Commissioner Of Income Tax (Appeal) Erred In Law & On Facts In Deleting The Addition Of Rs.50,00,000/- U/S 68 Of The Act W.R.T. Procurement Of Accommodation Entries Through Share Application Money From Non-Descript Companies. 2. The Commissioner Of Income Tax (Appeal) Erred In Law & On Facts In Deleting An Addition Of Rs.25,000/- Made By The Ao W.R.T. Commission Paid @ 5% For Procurement Of Accommodation Entries Through Share Application Money From Non-Descript Companies. 3. The Commissioner Of Income Tax (Appeal) Erred In Admitting Additional Evidence Under Rule 46A. 4. (A)The Order Of The Cit(A) Is Erroneous & Not Tenable In Law & On Facts. (B)The Appellant Craves Leave To Add, Alter Or Amend Any/All The Grounds Of Appeal Before Or During The Course Of The Hearing Of The Appeal.”
Section 132Section 143(2)Section 153ASection 153A(1)Section 68
17A, DDA Flats,
Delhi
Ashok Vihar, Delhi
GIR/PAN :AAJCS3398H
(Appellant)
(Respondent)
Department by Smt. Pramita M. Bhishwash,
CIT(DR)
Assessee by Sh. S.K. Gupta, CA
Date of hearing
30.06.2016
Date of pronouncement
29.07.2016
ORDER
PER O.P. KANT, A.M.:
This appeal by the Revenue and the cross objection by the assessee are directed against order dated 24/10/2013 of the learned Commissioner
