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2016 (10) TMI 544 - AT - Income TaxDividend dividend u/s 2(22)(e) - Held that:- In this case, assessee directly withdrew the money from another company and said outstanding amount to M/s. Amit Cottons Pvt. Ltd., was settled by way of transfer entries between the two companies but ultimately, as per the provisions of Section 2(22)(e), it is paid on behalf of assessee by such company. Therefore, it is within the purview of the provisions of Section 2(22)(e). In view of that, we affirm the order of CIT(A) to the extent of amount confirmed u/s. 2(22)(e) in the order. Assessee’s grounds are accordingly rejected.
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