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2017 (11) TMI 1920 - AT - Income TaxDisallowance u/s.2(22)(e) - only a journal entry passed by the company - HELD THAT:- There is no dispute that the company is having accumulated profit and the only argument of the A.R is that it is only a journal entry passed by the company, viz. M/s.Anandram Developers Pvt Ltd. Even journal entry is having a financial implication and it may not be overlooked as decided by the Tribunal in the case of Gurbinder Singh Vs. ACIT [2012 (3) TMI 189 - ITAT CHENNAI ]. In the present case, the assessee is not able to show how it cannot be considered as deemed dividend in the hands of assessee. Accordingly, there is no evidence brought on record to this effect. - Decided against assessee.
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