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2015 (10) TMI 1900 - AT - Income TaxDeemed dividend under S.2(22)(e) - Inter-Corporate Deposits (ICDs) received by the assessee from M/s. Excel Rubber Limited - CIT(A) deleted the addition - Held that:- Respectfully following the decision rendered by the coordinate bench of this Tribunal in assessee’s own case for the assessment years 2006-07 and 2010-11, we uphold the impugned order of the learned CIT(A), deleting the addition made by the Assessing Officer under S.2(22)(e) by treating the amount of ICD received by the assessee form M/s. Excel Rubber Pvt. Ltd. as deemed dividend as admittedly the assessee is not a shareholder of the lender company - Decided in favour of assessee.
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