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2016 (6) TMI 384 - DELHI HIGH COURT

2016 (6) TMI 384 - DELHI HIGH COURT - TMI - Unexplained credit under Section 68 - ITAT delted the addition - Held that:- Revenue does not dispute that in the present case despite the Assessee furnishing confirmation from the investor companies, their acknowledgment returns, certificates of incorporation, confirmation of payment of share application money etc, the AO did not conduct any inquiry to verify the said documents. He only relied on the report of investigation which in turn was based ent .....

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- Decided against revenue - ITA 358/2016 - Dated:- 1-6-2016 - S. Muralidhar And Vibhu Bakhru, JJ. For the Appellant : Mr Zoheb Hossain, Senior Standing Counsel with Mr Deepak Anand, Advocate For the Respondent : Mr Pranjal Srivastava, Advocate ORDER CM 22376/2016 ( for condonation of delay of 375 days in filing the appeal ) 1. There is an inordinate delay of 375 days i.e. about a year in the filing of the present appeal by the Revenue. 2. The Court finds that the standard excuse that the Depart .....

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so that the inconvenience if any caused to the Advocates and the litigants is minimised. In any event, the delay of over a year on this ground is wholly unacceptable. The application is accordingly dismissed. ITA 358/2016 3. Nevertheless the appeal is also considered on merits. 4. This Appeal is by the Revenue against the order dated 30th October, 2014 passed by the Income Tax Appellate Tribunal ( ITAT ) in ITA No. 4320/Del/2012 for Assessment Year ( AY ) 2003-04. 5. The issue sought to be urged .....

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