No additions for mere violation of RBI’s norms on valuation of shares sold by non-resident to resident

ITAT DELHI BENCH ‘H’ Zeppelin Mobile System GmbH versus Additional Director of Income-tax IT Appeal No. 5179 (Delhi) of 2010 [ASSESSMENT YEAR 2007-08] Date of Pronouncement – 12.04.2013 Smt. IndraBansal for the Appellant. Sameer Sharma for the Respondent. ORDER A.D. Jain, Judicial Member This is Assessee’s appeal for Assessment Year 2007-08 against the assessment order dated 29.10.2010 passed by the Addl. Director of Income Tax, Range-2, International Taxation, New Delhi. The following grounds of appeal have been taken:- “1. The Learned Dispute R...