Principal Commissioner Of Income Tax-7 v. Rahul Polymers Pvt. Ltd

$~45 *IN THE HIGH COURT OF DELHI AT NEW DELHI +ITA 1127/2018 PRINCIPAL COMMISSIONER OF INCOME TAX-7 ..... Appellant Through:Mr. Sanjay Kumar and Mr. AsheeshJain, Advocates. versus RAHUL POLYMERS PVT. LTD. ..... Respondent Through:None. CORAM:JUSTICE S.MURALIDHARJUSTICE SANJEEV NARULA O R D E R%26.10.2018 CM APPL. 42716/2018 (Exemption) 1. Exemption allowed, subject to all just exceptions. ITA 1127/2018 2. The issue in the present appeal by the Revenue against the order dated24[th]April 2018 of the Income Tax Appellate Tribunal in ITA No.2972/Del/2011 (being the Assessee’s appeal) for the Assessment Year 2006-07 concerns the value of the construction of a building in which theRespondent Assessee had invested and which was subject matter of theassessment. The list of dates set out by the revenue in the appeal itself isexplicit about the number of levels this issue has been examined and thereport of the Departmental Valuation Officer analysed. Before the ITATboth the Revenue and the Assessee were in appeal. The impugned order of the ITAT has partly allowed the appeal of the Assessee while dismissing theappeal of the Revenue. 3. This being the fourth level of the litigation, and the determination beingbased purely on facts, the Court is unable to find any substantial question oflaw arising for determination. 4. The appeal is accordingly dismissed. S.MURALIDHAR, J. OCTOBER 26, 2018nk SANJEEV NARULA, J.