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TMI Blog2018 (9) TMI 620X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee. - ITA Nos. 2131/DEL/2015 And 2132/Del/2015 - - - Dated:- 7-9-2018 - SHRI R. K. PANDA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER For The Appellant : Sh. Sudesh Garg For The Respondent : Sh. S. S. Rana, CIT DR ORDER PER SUCHITRA KAMBLE, JM These two appeals are filed by the assessee against the order dated 16/2/2015 24/03/2015 passed by CIT(A)-XXIV, New Delhi for Assessment Year 2003-04. 2. The grounds of appeal are as under:- ITA No. 2131/DEL/2015 1. The Ld.CIT (A) has erred on facts and in law in not considering the facts and circumstances of the case and has further erred in rejecting the request of the appellant for condonation of delay. 2. The Ld. CIT ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 144/263 by the Assessing Officer. As regards ITA No. 2132/DEL/2015, the same is in respect of penalty levied u/s 271(1)(c) of the Act. 4. The Ld. AR submitted that order u/s 263 dated 23/3/2012 was subject matter of appeal before the Tribunal and the Tribunal vide its order dated 30/5/2016 while quashing the order u/s 263 of the Act held as under:- 15. In the instant appeal before us, the AO has conducted an enquiry. However, he has not launched a lengthy discussion on the issue of share capital but that does not lead to an inference that there has been a lack of enquiry on his part on the issue. It is clear that an order cannot be termed as erroneous unless it is not in accordance with law. If an AO, acting in accordance with law ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AR submitted that the Department has yet not filed any appeal before the Hon ble Delhi High Court. The Ld. AR further submitted that as per their understanding Department may not file fresh appeal before the Hon ble Delhi High Court as the tax effect of the corresponding order u/s 143(3) of the Income Tax Act, 1961 is ₹ 31,24,519/- which is much below the threshold limit for filing of appeal before the Hon'ble High Court which is ₹ 50 lacs in terms of Circular No. 03 of 2018. 7. The Ld. DR submitted that the Department has been given liberty to file appeal before the Hon ble Delhi High Court. Therefore, these appeals may be adjourned. 8. We have heard both the parties and perused all relevant material available on reco ..... X X X X Extracts X X X X X X X X Extracts X X X X
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