Iapl/324/2017 Of Principal Commissioner Of Income-Tax Meerut v. M/S Emm Vee Infrastructures India P. Ltd

Case :- INCOME TAX APPEAL No. - 324 of 2017 Appellant :- Principal Commissioner Of Income-Tax MeerutRespondent :- M/S Emm Vee Infrastructures (India) P. Ltd.Counsel for Appellant :- Manu Ghildyal Hon'ble Bharati Sapru,J.Hon'ble Piyush Agrawal,J. Present appeal has been filed by the Departmentunder Section 260-A of the Income tax Act, 1961(hereinafter referred to as the Act) against thejudgment and order dated 19.6.2017 in ITA No.4178/Del/2012 (Assessment year 2009-10)passed by the Income Tax Appellate Tribunal,Delhi Bench "B", New Delhi. The questions oflaw referred to in the present appeal are as under: "A.Whether in the facts and circumstances of the case and in law the ITATerred in upholding the order of CIT(A) and in deleting the addition of Rs.3,00,00,000/- by ignoring the fact that the genuineness of the share capitalreceived by the assessee was not proved and also the investor companieswere not in existence on the given address as proved by spot enquiry madeby the AO? B. Whether in the facts and circumstances of the case and in law the ITATerred in deleting the addition of share capital of Rs. 3,00,00,000/- byignoring the fact that the investor companies were only paper companiesproviding only book entries and the Directors of the company also failedto give any specific address of the company and to justify the investmentmade by them in assessee company?" We have heard learned standing counsel for theDepartment and Sri Suyash Agarwal, learnedcounsel appearing for the respondent assessee. The tribunal has gone through the relevantrecords and recorded categorical findings. Thereis no doubt about the genuineness of the identitiesof the companies which were duly recorded in thebank account. In view of the findings recorded by the tribunal no question of law arises. The appeal is dismissed. Order Date :- 3.1.2019samz