Addition made u/s. 2(22)(e) of the Income Tax Act by AO

Last updated: 15 July 2021
Quick Summary
This ruling by the Pune Income Tax Appellate Tribunal addresses an appeal concerning additions made by the Assessing Officer (AO) under Section 2(22)(e) of the Income Tax Act. The case involved a registered firm dealing in gold and silver, which purchased shares from private limited companies where its partner held significant shareholdings. The AO treated the assessee as a beneficiary shareholder, leading to the addition in question.

Court :
ITAT Pune

Brief :
These two appeals by the assessee and Revenue, respectively against the common order dated 31-03-2017 passed by the Commissioner of Income Tax (Appeals)-2, Nashik [„CIT(A)‟] for assessment year 2012-13.

Citation :
ITA No.1396/PUN/2017

Daily Limit Reached

You have reached your daily limit of 2 Free Judgements

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?
  • No Ads
  • WhatsApp Broadcasts
  • Daily E-Newsletter
  • Unlimited Judgements Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits

Already a PRO member? Login here for an ad-free experience.

 

Guest
Published in Income Tax
Views : 121
downloaded 296 times
Share Report Abuse
Comments


Recent Judgments :

  1. Forest Development Tax Demand, Collection and Refund Subject to Final Outcome of Pending Cases
  2. SC : Extended Limitation Cannot Be Invoked Where Department Was Aware of Valuation Facts
  3. SC : Selling Shares While in Possession of UPSI Constitutes Insider Trading Even if No Profit Is Made
  4. SC : Laser Imagers Compatible with Machines Under Different Tariff Headings Classifiable Under CTH 9033
  5. Education Consultancy Services to Foreign Universities Not Intermediary Services; Refund of IGST on Export of Services Allowed
  6. Penalty Cannot Be Confirmed Beyond What is Specified in Statutory Form GST DRC-01
  7. Non-Supply of Field Visit Report Vitiates Rejection of Revocation Application
  8. Alternative Remedy before GSTAT to be Exhausted Despite Allegation that Adjudication Travelled Beyond SCN
  9. ITAT Jodhpur: AO Allows ₹2.61 Crore Deduction under Sections 54EC and 54F; Assessee's Appeal Dismissed as Infructuous
  10. CESTAT Revokes Suspension of Customs Broker Licence for Non-Compliance with Mandatory 15-Day Hearing Requirement

View More Judgments »


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member KOMAL BHAGWATKOMAL BHAGWATPro Member Bikash Kumar SenapatiBikash Kumar SenapatiPro Member asmita guptaasmita guptaPro Member GST Karimnagar stateGST Karimnagar statePro Member Dinesh KotwaniDinesh Kotwani
Subscribe to Pro
Join an elite circle of professionals

Browse by Category