9911796707
TMI Blog2023 (10) TMI 975X X X X Extracts X X X X X X X X Extracts X X X X ..... AM : These appeals filed by the two assessees against the respective orders of Learned Commissioner of Income Tax (Appeals)-34, New Delhi dated 20.06.2019 pertaining to Assessment Year 2007-08. 2. Since issues are common and connected and the appeals were heard together, these are being consolidated and disposed off together for the sake of convenience by this common order. 3. The grounds are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 23.12.2009, wherein addition was made of Rs. 60,00,000/- under section 2(22)(e) of the Act. Learned CIT(A) held that deemed dividend can not be taxed in the hands Madhav Arcade. But he directed that it can be taxed in the hands of shareholders i.e. Shri Surender Gupta and Smt. Kanta Gupta. Hence in these cases, assessment was reopened and the addition was made as per provision of section 2(22) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the assessee without giving any opportunity of being heard to the assessee. He submitted that assessment made by the Assessing Officer in the assessment order in the hands of the assessee is invalid. He further referred to the order of Hon'ble Bombay High Court in the case of Dinar Tarcar vs. ACIT reported in [2022] 137 taxmann.com 171 (Bombay). In the said case law, the Hon'ble High Court has o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the order of CIT(A) has been upheld by ITAT and Hon'ble High Court, hence, action in the case of assessee is based upon their approval. 7. Upon careful consideration, I find that the higher appellate forums have upheld the findings of the CIT(A) that addition under section 2(22)(e) of the Act can be made only in the hands of the registered shareholders. If the addition has to be done in the hand ..... X X X X Extracts X X X X X X X X Extracts X X X X
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