Mridu Hari Dalmia, New Delhi V. ACIT, Circle-1(2)(2) (International Taxation), New Delhi

ITA 6264/DEL/2019

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 9675 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 2 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-09-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2011-2012
• Appeal Filed On: 23-07-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: DHARAM GANDHI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘D’ NEW DELHI Before Sh. Saktijit Dey, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 6264/Del/2019 : Asstt. Year : 2011-12 Mridu Hari Dalmia, 4, Scindia House, New Delhi-110001 Vs ACIT, Circle-1(2)(2), (Intl. Taxation), New Delhi-110002 (APPELLANT) (RESPONDENT) PAN No. AADPD6744R Assessee by : Sh. Dharam Gandhi, Adv. & Sh. Rotash Jain, CA Revenue by : Ms. Garima Sharma, Sr. DR Date of Hearing: 07.07.2022 Date of Pronouncement: 29.09.2022 ORDER Per Dr. B. R. R. Kumar, Accountant Member: The present appeal has been filed by the assessee against the order of ld. CIT(A)-42, New Delhi dated 13.06.2019. 2. The only issue pertains to addition of Rs.13,36,077/- being the difference in the receipt from abroad and the average exchange rate @ 44.58 per $ instead of taking the actual receipts in rupees. 3. We have gone through the entire facts on record and find that the revenue has taken an average exchange rate of 44.58 per $ on the remittances received whereas the assessee has offered to tax the entire receipts by taking the exchange rate prevalent as on the date of receipt of the dollars in the bank account with the exchange rate ranging from 39.29 to 48.33 per ITA No. 6264/Del/2019 Mridu Hari Dalmia 2 $. Considering the exchange rate as on the date of receipt, we hold that no further addition is attracted in this case. 4. In the result, the appeal of the assessee is allowed. Order Pronounced in the Open Court on 29/09/2022. Sd/- Sd/- (Saktijit Dey) (Dr. B. R. R. Kumar) Judicial Member Accountant Member Dated: 29/09/2022 *Subodh* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR