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Commissioner of Income-Tax Versus Narmina Trade Investment P. Ltd.

2016 (2) TMI 970 - BOMBAY HIGH COURT

Deemed dividend under section 2(22)(e) - Held that:- The issue raised in the present case is no longer res integra as this court in the case of CIT v. Impact Containers P. Ltd. reported in [2014 (9) TMI 88 - BOMBAY HIGH COURT ] and in the case of CIT .....

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ot a shareholder of M/s. Arco Electro Technologies Pvt. Ltd. at the relevant time. - I. T. A. No. 2311 of 2013 - Dated:- 16-2-2016 - M. S. Sanklecha And B. P. Colabawalla, JJ. For the Appellant : Arvind Pinto instructed by Suresh Kumar For the Respon .....

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ax Act 1961 (the Act). The assessment year is 2007-08. 2. Mr. Pinto, learned counsel for the Revenue urges the following questions of law for our consideration : "(A) Whether on the facts and in the circumstances of the case and in law, the Trib .....

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ection 2(22)(e) of the Income-tax Act, 1961, ignoring the fact that the pro visions of section 2(22)(e) are squarely applicable to the assessee's case as also clarified in Central Board of Direct Taxes's Circular No. 495, dated September 22, .....

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ecision of the Special Bench in the case of Asst. CIT v. Bhaumik Colour P. Ltd. [2009] 313 ITR (AT) 146 (Mumbai) [SB] ; [2009] 27 SOT 270 (Mum) [SB] as approved by the Delhi High Court in the case of CIT v. Ankitech P. Ltd. [2012] 340 ITR 14 (Delhi) .....

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rom M/s. Arco Electro Technologies Pvt. Ltd. The respondent-assessee was not a shareholder of M/s. Arco Electro Technologies Pvt. Ltd. However, two of its shareholders held shares in excess of 10 per cent. in M/s. Arco Electro Technologies Pvt. Ltd. .....

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order under challenge. It relied on the case of the Special Bench of the Tribunal in Asst. CIT v. Bhaumik Colour P. Ltd. reported in [2009] 313 ITR (AT) 146 (Mumbai) [SB] ; [2009] 27 SOT 270 (Mum) [SB]. 5. Mr Pinto, learned counsel for the Revenue, .....

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