TMI Blog2023 (2) TMI 87X X X X Extracts X X X X X X X X Extracts X X X X ..... ppreciation of the facts supported by judicial decisions, we do not find any reason to interfere with the findings of the ld. CIT(A). Decided against revenue. - ITA No. 5154/DEL/2018 CO No. 174/DEL/2018 (A/o ITA No. 5154/DEL/2018 ) - - - Dated:- 1-2-2023 - SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND MS. ASTHA CHANDRA, JUDICIAL MEMBER For the Assessee : Shri Satish Agarwal, CA Shri Dharender Kumar, CA Shri Rachit Agarwal, CA For the Department : Shri Vivek Vardhan, Sr. DR ORDER PER N. K. BILLAIYA, ACCOUNTANT MEMBER : - This appeal by the Revenue and Cross Objections by the assessee are preferred against the order of the ld. CIT(A) 7, New Delhi dated 16.05.2018 pertaining to Assessment Year 2014-15. The appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , accordingly, issued notice u/s 133(6) of the Act and examined the key officers of the company. The Assessing Officer found that the Chairman of Riello and the assessee were common with the Chairman and family members holding 91.26% stake in the assessee company. The Assessing Officer was convinced that the assessee has not offered the advance of Rs. 5 crores as deemed dividend income u/s 2(22)(e) of the Act and accordingly, made the impugned addition of Rs. 5 crores. 8. The assessee carried the matter before the ld. CIT(A) and reiterated what has been stated in the assessment proceedings. 9. The ld. CIT(A), after considering the facts and submissions, found that the assessee had furnished a confirmation from M/s RPS SPA, Italy, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IPs on the following securities in the name of M/s PCI Ltd IP No. 287-288, Udyog Vihar, Phase-ll, Gurgaon, Extention of EM of ... acre of Industrial land and building situated at Village Rampur Tehsil Nuh, District Gurgaon, Haryana 12. The first appellate authority, while deleting the addition, has drawn support from the decision of the Calcutta High Court in the case of Pradeep Kumar Malhotra 338 ITR 0538 and also in the case of Creative Dyeing and Printing [P] Ltd 229 CTR 250 of the Hon'ble Delhi High Court. Since the first appellate authority has deleted the addition in true appreciation of the facts supported by judicial decisions, we do not find any reason to interfere with the findings of the ld. CIT(A). 13. I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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