TMI Blog2020 (5) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... nished the relevant material before the lower authorities for due examination. These issues require a fresh examination and hence set aside the orders of the lower authorities for a fresh examination. The assessee shall lay relevant materials in support of its contention before the AO and comply with the requirements of the AO in accordance with law. AO is free to conduct appropriate enquiry as de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment for assessment year 2012-13, the Assessing Officer, inter alia, examined the assessee s transaction with M/s. Hansa Vision India Pvt. Ltd and found that Shri Krishnaswamy Srinivasan and Shri Krishnaswamy Narasimhan, directors of the assessee company, each holding 33% stake in the company which has got accumulated reserves and surplus. Both of the directors were stakeholders with M/s. Han ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o page 26 of the paper book, where details of shareholders and debentures at the date of AGM i.e., 24.09.2012 is placed, submitted that the Ld. CIT(A) erred in confirming the addition u/s. 2(22)(e) by completely misunderstanding the facts. The Ld. CIT(A) actually committed an error in applying section 2(22)(e) when the section is not applicable in a scenario where a loan is given by a holding c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Ld. DR prayed that this issue may be remitted back to the AO for a due examination. 4. On the issue of depreciation on temporary structure claimed by the assessee, the Ld. AR inviting our attention to the particulars filed in the paper book in page 68 69 etc., submitted that the invoices indicated that the assets acquired were for temporary structure and installed in a rented premises. W ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sh examination and hence set aside the orders of the lower authorities for a fresh examination. The assessee shall lay relevant materials in support of its contention before the AO and comply with the requirements of the AO in accordance with law. The AO is free to conduct appropriate enquiry as deemed fit, but he shall furnish adequate opportunity to the assesssee on the material etc to be used a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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