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2021 (9) TMI 132 - AT - Income TaxDeemed dividend u/s. 2(22)(e) - AO noticed that assessee has shown in his return of income salary income in the capacity of directors of two companies - AO had not accepted the contention of the assessee that advances were against salary as well as incentive payable by the Biotech Vision Case Pvt. Ltd., and held that assessee has earned deemed dividend - CIT- A deleted the addition - HELD THAT:- Assessee has included the amount of salary and incentive received from the company in his income and categorically shown that the aforesaid amount was received from the companies after deduction of TDS - we consider that action of Assessing Officer in taxing the impugned amount as deemed dividend has resulted into double addition on same income which has already been included by the assessee in his income. Therefore, we do not find any infirmity in the decision of ld. CIT(A). Therefore, the appeal of the revenue is dismissed.
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