ITAT allows the appeal of Orange Associates Pvt. Ltd against disallowance of Rs.12,60,000,
Last updated: 08 January 2021
Court :
ITAT New Delhi
Brief :
This appeal is preferred by the assessee against order dated 19.01.2017 passed by the Learned Commissioner of Income Tax (Appeals)-8, New Delhi {CIT(A)} for Assessment Year 2012-13.
Citation :
ITA No.2091/Del/2017
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH ‘E’: NEW DELHI
(Through Video Conferencing)
BEFORE,
SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER
AND
SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER
ITA No.2091/Del/2017
(ASSESSMENT YEAR 2012-13)
Orange Associates Pvt.
Ltd.
(Formerly One Source
Education Pvt. Ltd.)
9, Near Telephone
Exchange, Daryaganj,
New Delhi-110 002.
PAN –AAACS 1177K
(Appellant)
Vs.
Asst. CIT,
Circle-22(1),
New Delhi
(Respondent)
Appellant By Sh. Tanpreet Kohli, CA.
Respondent by Ms. Rakhi Vimal, Sr. DR
Date of Hearing 05.01.2021
Date of Pronouncement 05.01.2021
ORDER
PER SUDHANSHU SRIVASTAVA, JM:
This appeal is preferred by the assessee against order dated 19.01.2017 passed by the Learned Commissioner of Income Tax (Appeals)-8, New Delhi {CIT(A)} for Assessment Year 2012-13.
The sole grievance of the assessee is upholding the disallowance of Rs.12,60,000/- u/s 40A (2) (b) of the Income Tax Act, 1961 (hereinafter called ‘the Act).
2.0 The brief facts of the case are that the assessee company is engaged in the business of publishing books for the school students. The return of income was filed declaring taxable income of Rs.3,99,96,730/-. After processing of the return, the assessee’s case was selected for scrutiny.
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