Sh. Ranjeet Singh Khurana, New Delhi vs. CIT, New Delhi
The appeal is allowed
ITA 2628/DEL/2011[2007-08]Status: DisposedITAT Delhi16 Aug 2016AY 2007-08
Bench: Shri I.C. Sudhir & Shri L.P. Sahu Assessment Year: 2007-08 Ranjeet Singh Khurana, Vs. Cit, C/O. Rattan Lal & Associates, Ca, Delhi-Xv, 109-Wing-1, Hans Bhawan, New Delhi. 1-Bahadur Shah Zafar Marg, New Delhi. (Pan: Aghpk6075E) (Appellant) (Respondent) Assessee By: Shri Kapil Goel, Adv. Department By: Shri N.C. Swain, Cit(Dr) Date Of Hearing : 14 .07.2016 Date Of Pronouncement: 16:08.2016 Order Per I.C. Sudhir:The Assessee Has Questioned Revisional Order Passed By Learned Cit On The Following Grounds: 1. That The Learned Cit-Xv, New Delhi Has Erred In Law & Facts Of The Case In Passing The Order Dated 03.03.2011 Under Sec. 263 Of The Income-Tax Act, 1961. The Order Of Assessment Made Under Sec. 143(3) Dated 16.10.2008 At Income Of Rs.1,17,391 Was Not Erroneous Order, Therefore, The Action Of The Learned Cit-Xv, New Delhi Under Sec. 263 Is Uncalled For & The Order Passed U/S. 263 Deserved To Be Cancelled. 2. That The Learned Cit-Xv, New Delhi Has Wrongly & Illegally Directed The Assessing Officer To Make Addition Of Rs.5,00,000 In 2 The Income Of The Assessee By Not Allowing Exemption Of Rs.5,00,000 Under Sec. 10(10C) Of The Income-Tax Act, 1961 Which Was Righty Allowed By The Assessing Officer In His Order Dated 16.10.2008 Passed Under Sec. 143(3) Of The Income-Tax Act, 1961. 2. Heard & Considered The Arguments Advanced By The Parties In View Of Orders Of The Authorities Below, Material Available On Record & The Decisions Relied Upon.
For Appellant: Shri Kapil Goel, AdvFor Respondent: Shri N.C. Swain, CIT(DR)
Section 10Section 143(3)Section 263
