M/s HSCC (India) Ltd., Noida V. Addl. CIT, New Delhi

ITA 1237/DEL/2011

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 3899 (ITAT-DELHI)
• Duration Of Justice: 2 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-05-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 12-05-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 10-03-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAHUL ADLAKHACA
• Assessee Lawyers: RAHUL ADLAKHACA
• Keywords: Depreciation; Business expenditure; Revenue expenditure; Capital expenditure

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH C : NEW DELHI) (DELHI BENCH C : NEW DELHI) (DELHI BENCH C : NEW DELHI) (DELHI BENCH C : NEW DELHI) BEFORE SHRI I.P. BANSAL, JUDICIAL MEMBER AND BEFORE SHRI I.P. BANSAL, JUDICIAL MEMBER AND BEFORE SHRI I.P. BANSAL, JUDICIAL MEMBER AND BEFORE SHRI I.P. BANSAL, JUDICIAL MEMBER AND SHRI K.D. RANJAN, ACCOUNTANT MEMBER SHRI K.D. RANJAN, ACCOUNTANT MEMBER SHRI K.D. RANJAN, ACCOUNTANT MEMBER SHRI K.D. RANJAN, ACCOUNTANT MEMBER ITA NO.1237/DEL./2011 ITA NO.1237/DEL./2011 ITA NO.1237/DEL./2011 ITA NO.1237/DEL./2011 (ASSESSMENT YEAR : 2006 (ASSESSMENT YEAR : 2006 (ASSESSMENT YEAR : 2006 (ASSESSMENT YEAR : 2006- -- -07) 07) 07) 07) M/S HSCC(INDIA) LTD. M/S HSCC(INDIA) LTD. M/S HSCC(INDIA) LTD. M/S HSCC(INDIA) LTD. VS. VS. VS. VS. ADDL.CIT, RANGE 12, ADDL.CIT, RANGE 12, ADDL.CIT, RANGE 12, ADDL.CIT, RANGE 12, E6(A) SECTOR 1, E6(A) SECTOR 1, E6(A) SECTOR 1, E6(A) SECTOR 1, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. NOIDA NOIDA NOIDA NOIDA- -- -201301 201301 201301 201301 (U.P.) (U.P.) (U.P.) (U.P.) (PAN/GIR NO.AAACH0086N) (PAN/GIR NO.AAACH0086N) (PAN/GIR NO.AAACH0086N) (PAN/GIR NO.AAACH0086N) (APPELLANT) (APPELLANT) (APPELLANT) (APPELLANT) (RESPONDENT) (RESPONDENT) (RESPONDENT) (RESPONDENT) ASSESSEE BY : SHRI BHARAT BERIWAL, ADV. & SH. RAHUL ADLAKHA,CA ASSESSEE BY : SHRI BHARAT BERIWAL, ADV. & SH. RAHUL ADLAKHA,CA ASSESSEE BY : SHRI BHARAT BERIWAL, ADV. & SH. RAHUL ADLAKHA,CA ASSESSEE BY : SHRI BHARAT BERIWAL, ADV. & SH. RAHUL ADLAKHA,CA REVENUE BY : SMT. MONA MOHANTY, SR.DR REVENUE BY : SMT. MONA MOHANTY, SR.DR REVENUE BY : SMT. MONA MOHANTY, SR.DR REVENUE BY : SMT. MONA MOHANTY, SR.DR ORDER ORDER ORDER ORDER PER K.D. RANJAN: AM PER K.D. RANJAN: AM PER K.D. RANJAN: AM PER K.D. RANJAN: AM THIS APPEAL BY THE ASSESSEE FOR AY 2006-07 ARISES OUT OF THE ORDER OF CIT(A)-XXVIII, NEW DELHI. THE GROUNDS OF A PPEAL RAISED ARE REPRODUCED AS UNDER: 1. THAT THE CIT(A) ERRED IN LAW AND AS WELL AS ON FA CTS WHILE CONFIRMING THE DISALLOWANCE. 2. THAT THE CIT(A) HAS ERRED IN LAW AND ON THE FACTS OF THE CASE BY UPHOLDING DISALLOWANCE OF `17.06 LACS BEING BUSINESS DEVELOPMENT EXPENDITURE BY TREATING IT AS CAPI TAL EXPENDITURE. 3. THAT THE CIT(A) HAS ERRED IN LAW BY UPHOLDING DEP RECIATION ON UPS @15% INSTEAD OF 60%, AS APPLICABLE IN CASE OF COMPUTERS. ADDITION `104290. 2. THE FIRST ISSUE FOR CONSIDERATION RELATES TO UPHOLDIN G DISALLOWANCE OF `17.06 LAKHS BEING BUSINESS DEVELOPMENT EXPENDITURE BY TREATING THE SAME AS CAPITAL EXPENDITURE. THE FACTS OF THE CASE STATED IN BRIEF ARE THAT THE ASSESSEE IS A GOVERNMENT OWNED COMPANY AND WORKS DIRECTLY UNDER MINISTRY OF HEALTH & FAMILY WELFARE. THE PRIMARY OBJECT OF THE COMPANY IS TO RENDER SERVICES OF HEALTH CARE AN D FAMILY WELFARE I.T.A. NO.1237/DEL./2011 (A.Y. : 2006-07) 2 TO THE COMMON PUBLIC, THROUGH VARIOUS PROJECTS OF THE GOVT. OF INDIA. DURING THE YEAR UNDER CONSIDERATION, THE ASSESSEE CLAIME D AN EXPENDITURE OF `17.06 LAKHS PAID TO M/S PRICE WATER H OUSE COOPER FOR PREPARATION OF STRATEGIC PLAN FOR FINANCIAL YEAR 200 6-07 TO FINANCIAL YEAR 2010-11. THE DETAILS AND PURPOSE OF THE PLAN WA S CALLED FOR. ON PERUSAL OF PLAN, THE AO NOTED THAT THE DETAILS OF STRA TEGIC PLAN PERTAINED TO DIVERSIFICATION OF SERVICE PORTFOLIO EXP ANSION TO BE MADE IN DIFFERENT AREAS IN FUTURE ETC. ALL THESE ATTRIBUTES C LEARLY ESTABLISHED THE FACT THAT THE EXPENDITURE HAD BEEN INCURRED FOR LON G TERM BENEFIT SPREAD OVER SEVERAL YEARS AND WAS RELATED TO FUTURE BUSI NESS PROSPECTS. THE AO, THEREFORE, TREATED THE AMOUNT OF `17.06 LAKHS AS CAPITAL EXPENDITURE AND DISALLOWED THE SAME AS REVENUE EXPENDITURE. 3. BEFORE THE CIT(A), IT WAS SUBMITTED THAT ASSESSEE WAS R ENDERING SERVICES OF HEALTH CARE AND FAMILY WELFARE TO COMMON PUBLIC AND WAS WORKING DIRECTLY UNDER THE MINISTRY OF HEALTH AND FA MILY WELFARE, GOVT. OF INDIA. THE ASSESSEE DERIVES IT REVENUE PRIMARILY FRO M GOVT. OF INDIA IN THE FORM OF CONSULTANCY FEES RECEIVED IN RESPECT OF VARIOUS SERVICES RENDERED SUCH AS (I) ON DESIGN ENGINEERING/STUDIES/TRAINING/INFORMATIO N & TECHNOLOGY; (II) ON PROCUREMENT SERVICES; AND (III) ON CONSTRUCTION CONTRACTS. IT WAS FURTHER SUBMITTED THAT FROM THE DETAILS AND PUR POSE OF PLAN WHICH WAS FURNISHED BEFORE THE AO, THE AO HAD HELD TH AT THE EXPENDITURE WAS INCURRED FOR DIVERSIFICATION OF ITS SER VICE PORTFOLIO. IT WAS ALSO SUBMITTED THAT DIVERSIFICATION OF ITS SERVICE PO RTFOLIO WAS TO CLOSELY ALIGN ITSELF WITH THE CHANGES BEING WITNESSED IN THE HEALTH CARE SECTOR. THIS WOULD ALSO HELP IN DE-RISKING THE REVENUE MODEL THROUGH THE INCLUSION OF ANNUITY LIKE INCOME STREAMS LEADING T O A PROTECTION FROM SHARP OSCILLATIONS IN REVENUE. THE PORTFOLIO OF SERVICES THAT HAVE BEEN IDENTIFIED FOR THE ASSESSEE WERE I.T.A. NO.1237/DEL./2011 (A.Y. : 2006-07) 3 (A) HOSPITAL PROJECTS (B) PROCUREMENT RELATED CONSULTANCY SERVICES AND OUTSOU RCING. (C) PORTFOLIO IMPROVEMENT (D) BUSINESS PLANNING SERVICES (E) MANPOWER CONSULTING SERVICES (F) IT CONSULTING SERVICES (G) FINANCING SERVICES 4. THE ASSESSEE ALSO HIGHLIGHTED THE VARIOUS AREAS IN WHIC H PWC ADVISED THE ASSESSEE. ON THE APPRECIATION OF OBJECTS OF THE STUDY, THE CIT(A), THEREFORE, OBSERVED THAT AS PER THE SUBMISSIONS O F THE ASSESSEE THE DEVELOPMENT PLAN FORMULATED BY PRICE WATER HOUSE COOPER WAS IN NATURE OF CAPITAL EXPENDITURE AND RELATED TO - (I) DIVERSIFICATION OF ITS SERVICE PORTFOLIO (II) DEPARTMENT-RISKING THE REVENUE MODEL THROUGH TH E INCLUSION OF ANNUITY-LIKE INCOME STREAMS LEADING TO A PROTECTION FROM SHARP OSCILLATIONS IN REVENUE. (III) THE PORTFOLIO OF SERVICES THAT HAVE BEEN IDENTI FIED FOR HSCC INCLUDED NEW PROJECTS E.G. HOSPITAL PROJECTS AND NEW SERVICES SUCH AS ARCHITECTURAL DESIGN AND ENGINEERING, PROJECT MANAGEMENT AND MAINTENANCE OUTSOURCING, PROCUREMENT-RELATED CONSULTING SERVICES AND OUTSOURCING FOR BOTH MEDICAL EQUIPMENT AND PHARMACEUTICALS, BUSIN ESS PLANNING SERVICES, MANPOWER CONSULTING EQUIPMENT AND PHARMACEUTICALS, BUSINESS PLANNING SERVICES, MANPOWER CONSULTING SERVICES, IT CONSULTING SERVICES, FINANCING SERVICES. THESE ARE NEW ACTIVITIES AND AREAS. (IV) EXPANDING ITS REACH AND PRESENCE IN ORDER TO TRA P OPPORTUNITIES IN OTHER GEOGRAPHIES. (V) IDENTIFICATION OF POTENTIAL JV PARTNERS TO BOLSTE R CAPABILITIES IN NEW SERVICE AREAS. (VI) INCREASE AWARENESS OF THE HSCC BRAND THROUGH THE USE OF A CUSTOMER OUTREACH PLAN WHICH WOULD INCLUDE A MIX O F DIRECT ADVERTISING, MEDIA OUTREACH, ADVERTISING CAMPA IGNS AND SOCIAL MARKETING INITIATIVES. THIS ACTIVITY WOUL D HELP HSCC TO EXPAND ITS CLIENT BASE GEOGRAPHICALLY AS WELL AS CASE ITS ENTRY INTO THE PRIVATE SECTOR. LD.CT(A) THUS HAS CONCLUDED TO HOLD THAT IT IS APPARE NT THAT THE BUSINESS DEVELOPMENT PLAN FORMULATED BY PWC ENVISAGED E NTRY INTO NEW AREAS OF WORK AND NEW ACTIVITIES AND EVEN EN TRY INTO THE PRIVATE SECTOR. SUCH A PLAN CLEARLY RELATED TO AN E NDURING I.T.A. NO.1237/DEL./2011 (A.Y. : 2006-07) 4 ADVANTAGE. IT WAS THEREFORE, CAPITAL IN NATURE AND NOT ALLOWABLE AS REVENUE EXPENDITURE. THE ADDITION IS THEREFORE, J USTIFIED AND IS UPHELD. THE GROUND IS DISMISSED. 5. THE CIT(A) FROM THE ABOVE CAME TO THE CONCLUSION THAT THE BUSINESS DEVELOPMENT PLAN FORMULATED BY PWC ENVISAGED E NTRY INTO NEW AREAS OF WORK AND NEW ACTIVITIES AND EVEN ENTRY IN PRIVATE SECTOR. SUCH PLAN CLEARLY RELATED TO AN ENDURING ADVANTAGE. THEREFORE, THE EXPENDITURE INCURRED BY THE ASSESSEE WAS IN NATURE OF CA PITAL EXPENDITURE. HE ACCORDINGLY UPHELD THE STAND TAKEN BY THE AO. 6. BEFORE US, LD.AR. OF THE ASSESSEE SUBMITTED THAT THE A SSESSEE ENGAGED M/S PRICE WATER HOUSE COOPERS AS CONSULTANT FOR PREPARING THE STRATEGIC PLAN FOR FINANCIAL YEAR 2006-07 TO FIN ANCIAL YEAR 2010-11 FOR ITS EXISTING BUSINESS. THE MAIN OBJECTIVE OF THE SAI D PLAN WAS TO DEVELOP A STRATEGY TO MAKE ITS REVENUE FROM ITS EXISTIN G BUSINESS MORE ROBUST AND TO KEEP PACE WITH THE GROWTH IN HEALTH CA RE INDUSTRY. M/S PRICE WATER HOUSE COOPERS IN THEIR REPORT HAVE SUGGESTE D VARIOUS STRATEGIC INITIATIVE FOR ACHIEVING THE AFORESAID OBJE CTIVE DURING THE PLAN PERIOD. THE EXECUTIVE SUMMARY CONTAINS THE FINANCIAL OUTCOMES BASED ON RECOMMENDED STRATEGIC INITIATIVE. THE STRATEGIC IN ITIATIVES RECOMMENDED BY THE CONSULTANT ESSENTIALLY RELATE TO EX ISTING BUSINESS OF THE ASSESSEE AND THE REPORT NOWHERE SUGGESTS THAT THE A SSESSEE SHOULD FORAY INTO NEW BUSINESS OUTSIDE ITS EXISTING BUSINESS. AT THE MOST, THE REPORT RECOMMENDS DIVERSIFICATION IN THE SERV ICE PORTFOLIO OF THE ASSESSEE, BUT THAT ALSO ESSENTIALLY IS WITHIN THE EXISTI NG BUSINESS OF THE ASSESSEE. THE ENTIRE PLAN DEALS WITH THE IMPROVEMEN T AND DEVELOPMENT OF ITS EXISTING BUSINESS AND TO MAXIMIZE REV ENUE FOR THE SAME. THEREFORE, THE EXPENDITURE INCURRED BY THE ASSE SSEE IS IN NATURE OF REVENUE. HE PLACED RELIANCE ON THE DECISI ON OF HONBLE DELHI HIGH COURT IN THE CASE OF CIT VS. PRIYA VILLAGE ROAD SHOWS LTD., 332 I.T.R. 594(DEL.) HAS LAID DOWN THE TEST AS TO WHEN AN EXPENDITURE INCURRED FOR FEASIBILITY STUDY IS OF CAPITAL OR REVENU E EXPENDITURE. HE I.T.A. NO.1237/DEL./2011 (A.Y. : 2006-07) 5 ALSO PLACED RELIANCE ON THE DECISION OF THE HONBLE A NDHRA PRADESH HIGH COURT IN THE CASE OF CIT VS. COROMANDAL FERTILISE RS LTD., 247 I.T.R. 417 FOR THE PROPOSITION THAT WHERE THE OBJECT OF OB TAINING FEASIBILITY REPORT IS FOR UTILIZING THE SURPLUS FUNDS AND TO ASCERTA IN HOW BEST IT CAN UTILIZE THE SURPLUS FUNDS FOR THE PURPOSE OF EXPANDING ITS BUSINESS, THE SAME WOULD BE IN REVENUE IN NATURE. IT HAS FURTHER B EEN SUBMITTED THAT ON THE FACTS OF THE CASE, NO DECISION WAS TAKEN TO SET UP A NEW BUSINESS. ON THE OTHER HAND, THE INTENTION OF THE ASSESSE E WAS TO MAXIMIZE ITS REVENUE FROM THE EXISTING BUSINESS AND TO K EEP PACE WITH THE GROWTH OF INDUSTRY. THE ASSESSEE NEVER DESIRED TO DI VERSIFY OR OBTAIN THE REPORT FOR THAT PURPOSE. THE SAME WAS ONLY A SUGGESTION/RECOMMENDATION FROM THE CONSULTANT TO IMPRO VE THE REVENUE WHICH WAS THE OBJECTIVE OF TAKING THE REPORT . THE EXPENDITURE INCURRED BY PAYING FEE TO CONSULTANT WAS NOT FOR A NE W BUSINESS ACTIVITY, BUT FOR IMPROVEMENT OF REVENUE OF EXISTING BUSINESS AND TO KEEP PACE WITH THE GROWTH OF INDUSTRY. NO CAPITAL A SSET CAME INTO EXISTENCE AS THE STRATEGIES RECOMMENDED BY THE DEVELOPM ENT PLAN COULD NOT BE IMPLEMENTED BY THE ASSESSEE AND THE FINANC IAL OUTCOME REMAINED UNDER SCENARIO STATUS QUO. IN VIEW OF THE ABO VE, IT HAS BEEN SUBMITTED THAT THE EXPENDITURE INCURRED BY THE ASSESSEE WAS IN THE FIELD OF REVENUE. 8. ON THE OTHER HAND, LD.SR.DR RELIED ON THE ORDER OF THE CIT(A). 9. WE HAVE HEARD BOTH THE PARTIES AND GONE THROUGH T HE MATERIAL AVAILABLE ON RECORD. IN THE INSTANT CASE, THE ASSESSEE H AS ENGAGED SERVICES OF M/S PRICE WATER HOUSE COOPERS FOR THE PURPOSE OF PREPARING STRATEGIC PLAN FOR FINANCIAL YEARS 2006-07 TO 2010-11 . M/S PRICE WATER HOUSE COOPERS HAVE SUGGESTED VARIOUS STRATEGIES TO MAKE IT S REVENUE MORE ROBUST AND TO KEEP PACE WITH THE GROWTH IN THE HEALTH INDUSTRY. IT WAS SUGGESTED THAT THERE WOULD BE NEED TO REALIGN ITS V ARIOUS STRATEGIES. THERE IS NOTHING ON RECORD TO SUGGEST THAT THE ASSESSEE HAS STARTED NEW BUSINESS. THE STRATEGIES SUGGESTED FOR DIV ERSIFICATION I.T.A. NO.1237/DEL./2011 (A.Y. : 2006-07) 6 OF ITS SERVICE PORTFOLIO OR DE-RISKING THE REVENUE OR IDENTIFICATION OF JOINT VENTURE PARTNERS TO BOLSTER CAPABILITIES IN NEW AREAS O R INCREASE AWARENESS OF HSCC BRAND THOUGH THE USE OF CUSTOMER OUTR EACH PLAN OR A DEVELOPING CAMPAIGN CANNOT BE TREATED THAT THE ASSE SSEE HAD STARTED NEW LINE OF BUSINESS. THE HONBLE DELHI HIGH CO URT IN THE CASE OF CIT VS. PRIYA VILLAGE ROAD SHOWS LTD.(SUPRA) HAS HEL D THAT IF THE EXPENDITURE IS INCURRED FOR STARTING A NEW BUSINESS WHIC H WAS NOT CARRIED OUT BY THE ASSESSEE EARLIER, THEN SUCH EXPENDITU RE WILL BE CAPITAL IN NATURE. IN THAT EVENT, IT WOULD BE IRRE LEVANT AS TO WHETHER THE PROJECT REALLY MATERIALIZED OR NOT. HOWEVER, I F THE EXPENDITURE INCURRED IS IN RESPECT OF THE SAME BUSINESS WHICH HAS ALRE ADY BEEN CARRIED ON BY THE ASSESSEE, EVEN IF IT IS FOR THE EXPANSI ON OF BUSINESS, NAMELY, TO START A NEW UNIT WHICH IS THE SAME AS EXISTIN G BUSINESS AND THERE IS UNITY OF CONTROL AND A COMMON FUND, THEN SUC H AN EXPENSE IS TO BE TREATED AS BUSINESS EXPENDITURE. IN SUCH A CASE, W HERE A NEW BUSINESS/ASSET COMES INTO EXISTENCE OR NOT, WOULD BECOME A RELEVANT FACTOR. IF THERE IS NO CREATION OF NEW ASSET, THEN EX PENDITURE INCURRED WOULD BE OF REVENUE NATURE. APPLYING THE RATIO OF DECISION OF HONBLE DELHI HIGH COURT IN THE CASE OF PRIYA VILLAGE ROAD S HOWS LTD., TO THE FACTS OF THE CASE BEFORE US, WE FIND THAT IT IS NOT A C ASE OF A NEW BUSINESS BUT OF REVAMPING OF THE EXISTING BUSINESS AND TO FIND OUT WAYS AND MEANS OR BUSINESS STRATEGY SO AS TO MAXIMIZE THE R EVENUES. THERE IS CONTROL OF UNITY AND UTILIZATION OF COMMON FUNDS. FURTHER, NO NEW ASSET HAS BEEN CREATED BY INCURRING THE EXPENDITUR E. THEREFORE, THE EXPENDITURE INCURRED IS IN NATURE OF REVENUE AND HAS TO BE ALLOWED AS SUCH. RESPECTFULLY FOLLOWING THE DECISION OF HONBL E DELHI HIGH COURT IN THE CASE OF PRIYA VILLAGE ROAD SHOWS LTD.(SUP RA), IT IS HELD THAT THE FEE PAID BY THE ASSESSEE TO M/S PRICE WATER HOUSE COO PERS IS IN NATURE OF REVENUE EXPENDITURE. THE AO IS DIRECTED T O ALLOW THE SAME. 10. THE NEXT ISSUE FOR CONSIDERATION RELATES TO UPHOLDI NG THE DEPRECIATION OF UPS @ 15% INSTEAD OF 60% AS APPLICABL E IN THE CASE OF I.T.A. NO.1237/DEL./2011 (A.Y. : 2006-07) 7 COMPUTERS. THE AO WHILE COMPLETING ASSESSMENT TREATED U PS AND PRINTERS AS PLANT AND MACHINERY AND ALLOWED DEPRECIAT ION. 11. ON APPEAL, THE CIT(A) FOLLOWING THE DECISION OF HONBLE DELHI HIGH COURT IN THE CASE OF CIT VS. BSES RAJDHANI POWERS LTD. HAS ALLOWED DEPRECIATION @ 60% ON PRINTERS. HOWEVER, HE HAS UPHE LD THE DISALLOWANCE OF DEPRECATION IN RESPECT OF UPS. 12. WE HAVE HEARD BOTH THE PARTIES. THE HONBLE DEL HI HIGH COURT IN THE CASE OF CIT VS. ORIENT CERAMICS AND INDUSTRIES LTD. IN I.T.A. NOS 65 & 66 OF 2011 DATED 20 TH JAN., 2011 HAS HELD THAT DEPRECIATION ON UPS WILL BE ALLOWABLE @ 60% AS HELD BY THEIR LORDSHIPS IN THE CASE OF BSES YAMUNA POWER LTD. IN I.T. A.NO.1267 DECIDED ON 31 ST AUGUST, 2010. SINCE, THE ISSUE IS COVERED BY THE DECISION OF HONBLE DELHI HIGH COURT, IT IS HELD THAT THE ASSESSEE WILL BE ENTITLED FOR DEPREC IATION ALLOWANCE @ 60% ON UPS. THE AO IS DIRECTED TO ALLOW DEPRECATI ON ON UPS @ 60%. 13. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS AL LOWED. ORDER PRONOUNCED IN OPEN COURT ON 27.05.2011. SD/- SD/- (I.P. BANSAL) (K.D. RANJAN) JUDCIAL MEMBER ACCOUNTANT MEMBER DATED: 27.05.2011 SKB COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A)-XXVIII, NEW DELHI. 5. DR TRUE COPY BY ORDER DEPUTY REGISTRAR I.T.A. NO.1237/DEL./2011 (A.Y. : 2006-07) 8