Addition on account of deemed dividend under the Income Tax Act

Last updated: 10 August 2021
Quick Summary
The Income Tax Appellate Tribunal has dismissed an appeal by the Revenue concerning a deemed dividend addition. The Assessing Officer had added Rs. 5,37,46,284/- to the assessee's income under section 2(22)(e) of the Income Tax Act, treating an advance received from another company as a deemed dividend. However, the Commissioner of Income Tax (Appeals) had deleted this addition, a decision upheld by the Tribunal.

Court :
ITAT Mumbai

Brief :
The present appeal has been preferred by the Revenuevagainst the order dated 18.12.2017 of the Commissioner ofvIncome Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2012-13.

Citation :
ITA No.1193/M/2018

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Published in Income Tax
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