Commissioner Of Income Tax v. M/S Five Star Holidays P.ltd

$~37 * IN THE HIGH COURT OF DELHI AT NEW DELHI+ ITA 721/2005 COMMISSIONER OF INCOME TAX ..... Petitioner Through Mr. Ajit Sharma, Jr. Standing Counsel with Mr. Ashish Jain, Advocate. versus M/S FIVE STAR HOLIDAYS P.LTD. ..... Respondents Through Nemo. CORAM:HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MR. JUSTICE CHANDER SHEKHAR O R D E R% 18.01.2018 This appeal was admitted for hearing on the following substantial question of law:- “Whether the Income Tax Appellate Tribunal was correct in law in deleting the addition of 8854 UK pounds (equivalent to Rs. 5,26,000/-) made by the Assessing Officer on the ground that it was covered by the undisclosed income of the Assessee on account of telescoping?” Counsel for the appellant-Revenue accepts that the tax effect is less than Rs.20 lacs. In these circumstances, we are not inclined to answer the question of law on merits. For the purpose of record, the appeal would be treated as disposed of. SANJIV KHANNA, J. JANUARY 18, 2018 MR/NA CHANDER SHEKHAR, J.