DCIT, CIRCLE -13(1), DELHI, C.R. Building, Delhi V. Loop Telecom and Trading Limited, Mumbai

ITA 2897/DEL/2023

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 4012 (ITAT-DELHI)
• Duration Of Justice: 3 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-01-2024
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2008-2009
• Appeal Filed On: 13-10-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 68; 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI BEFORE SH. SAKTIJIT DEY, VICE PRESIDENT AND SH. N. K. BILLAIYA, ACCOUNTANT MEMBER ITA No.2897/Del/2023 Assessment Year: 2008-09 DCIT Circle – 13 (1) Delhi Vs. Loop Telecom and Trading Limited 127, Manmala Tank Road, Taikalwadi Mahim West, Mumbai – 400016 PAN No.AAGCS0351R (APPELLANT) (RESPONDENT) Appellant by Sh. Subhra Jyoti Chakraborty, CIT DR Respondent by Sh. Ganesh Rajgopalan, CA Date of hearing: 31/01/2024 Date of Pronouncement: 31/01/2024 ORDER PER N. K. BILLAIYA, AM: This appeal by the revenue is preferred against the order dated 24.08.2023 by NFAC, Delhi pertaining to A.Y. 2008-09. 2. The grievance of the revenue read as under :- 1. That whether on the facts and circumstances of the case and in law, the Ld. CIT(A) erred in entertaining the additional ground raise by the assessee during the appellate proceedings in view of 2 the decision of Hon'ble Apex Court in the case of M's Goetze (India) Ltd. Ve CIT (2006) 284 ITR 323 (SC). 2. That whether on the facts and circumstances of the case and in law, the Ld CIT(A) erred in deleting the addition of Rs. 134,22,08,000/- on account of share premium in excess of intrinsic value of the shares u/s 68 of the Act. 3. That the appellant craves leave to add, amend. vary, omit or substitute any of the aforesaid ground (s) of appeal either before or at the time of hearing of the appeal. 3. On perusal of the appeal folder we find that the jurisdiction lies with Mumbai Bench as the AO is at Mumbai. Since the appeal has been filed in the wrong jurisdiction the same is dismissed. However, the revenue is allowed the opportunity to file the appeal at the appropriate jurisdiction. 4. Decision announced in the open court on 31.01.2024. Sd/- Sd/- (SAKTIJIT DEY) (N.K. BILLAIYA) VICE PRESIDENT ACCOUNTANT MEMBER *NEHA* Date:- .01.2024 Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) ` 5. DR: ITAT ASSISTANT REGISTRAR NEW DELHI