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No addition is allowed if the minor difference is only 3.24% between declaration of Assessee & Calculation made by DVO
Case Law Details
- Case Name
- DCIT Vs Sanjay Seth (ITAT Lucknow)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Lucknow
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Facts of the case
Assessee is a Director of a company having more than 10% of voting power. The said Company is involved in the business of construction in real estate. The assessee has entered into an agreement for construction of Assessee’s house. During the year under consideration, the work-in-progress was of Rs.32,81,823/-. As no payment was made by the assessee to the company during the year under consideration, an amount of Rs.32,81,823/- was treated by the Assessing Officer as deemed dividend under section 2(22)(e). Final bill of Rs.3,47,12,678/- was raised by the company on 31.5.201...
