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2015 (9) TMI 1003 - AT - Income TaxDeemed dividend u/s. 2(22)(e) - CIT(A) deleted the additions - Held that:- The opening balance of ₹ 5,35,396 is receivable by assessee from the said company as on 1st April 2006 and to the extent amount received back cannot be added as deemed dividend u/s 2(22)(e) of the Act as it is the return of loan given by assessee to Koradia Construction Private Limited. The assesee has produced statement of account as well bank statement of the assessee to prove his contention. Further the assessee has earned ₹ 2,00,000 as the salary from Koradia Construction Pvt. Ltd., which has already been offered for taxation by the assessee in the return of income filed for the impugned year. Thus, in view of above we hold that CIT(A) has rightly deleted the addition to the tune of ₹ 12,10,396 and we uphold the same. - Decided in favour of assessee. Addition on account of income from house property - CIT(A) deleted the additions - Held that:- Though the order of CIT(A) is short on details, so however, the factual matrix which has been brought out by the assessee, does not justify any interference in the ultimate conclusion drawn by the CIT(A). Moreover, we find that the assessee had brought to the notice of the Assessing Officer all the facts by way of a written communication dated 25/11/2009, copy of which has also been placed in the paper book at pages 110 to 111. Therefore, it is not a case where any fresh facts are being pleaded. Considering the entirety of the circumstances and in the background that the facts were already before the Assessing Officer, which have remained un-rebutted and also the precedent on similar issue in the case of assessee’s husband, Shri. Binal S. Koradia, we hereby uphold the ultimate decision of CIT(A) in deleting the addition under the head “income from house property”. The order of CIT(A) is hereby affirmed.- Decided in favour of assessee.
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