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2016 (2) TMI 497 - ITAT PUNEAddition of u/s.2(22)(e) - Held that:- Since there is continuous and substantial business transaction between PPPL and Shri Chhatrapati Press and considering the fact that the amount of ₹ 2 crores has been adjusted against the bills for printing labour charges, therefore, in view of the decision of Creative Dyeing and Printing Pvt. Ltd. cited (2009 (9) TMI 43 - DELHI HIGH COURT ) the amount of ₹ 2 crores cannot be taxed u/s.2(22)(e) of the I.T. Act. In this view of the matter, we set aside the order of the CIT(A) and direct the AO to delete the addition. - Decided in favour of assessee
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