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2022 (5) TMI 1276 - ITAT CHENNAIDeemed dividend u/s.2(22)(e) - CIT(A) deleting the addition made by AO of treating the loan received from Rajshree Automotive Pvt. Ltd., as deemed dividend - HELD THAT:- As the issue is covered in regard to deemed dividend assessed by AO u/s.2(22)(e) of the Act, as the same land was under consideration by Tribunal in immediate preceding year i.e., assessment year 2013-14 [2019 (9) TMI 1646 - ITAT CHENNAI]hence taking a consistent view and taking the issue as covered in favour of assessee, we confirm the order of CIT(A) and dismiss this issue of Revenue’s appeal. Disallowance u/s 14A r.w.r. 8D - HELD THAT:- We noted that the Tribunal in immediate preceding year [2019 (9) TMI 1646 - ITAT CHENNAI] deleted the addition in regard to disallowance under Rule 8D(2)(ii) but sustained the disallowance under Rule 8D(2)(iii) to the extent of Rs.32,213/-. Even now, the ld.counsel for the assessee agreed that the order of CIT(A) to the extent of same investment made of Rs.64,42,600/- can be considered for making disallowance u/s.8D(2)(iii) and hence, the order of CIT(A) can be reversed. In view of the above, we are of the view that this issue is covered by Tribunal’s order in earlier year against the assessee and hence, we reverse the order of CIT(A) to the extent of disallowance of Rs.32,213/- deleted by CIT(A) under Rule 8D(2)(iii). This issue of Revenue’s appeal is allowed.
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