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2017 (11) TMI 1084 - HC - Income TaxRevision u/s 263 - deemed dividend u/s 2(22)(e) - as per CIT-A claim of the assessee that the amount received from M/s. Canon Laminators Pvt. Ltd. is in the nature of trade advance is factually incorrect - Tribunal quashing and setting aside the order passed by CIT u/s. 263 - Held that:- We see no reason to interfere. As noted, the assessee had pointed out that the amount lying in the ledger account of the assessee was not received by a loan from Canon Laminators Pvt. Ltd. but it was only in the nature of a trade advance since the assessee continued to supply goods to the said company. On such advance, the assessee had also paid interest. No question of law arises - Decided against revenue
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