Case Law Details
ACIT Vs. Oxford Softeck Pvt. Ltd. (ITAT Delhi)- If it is supposed that all the conditions are fulfilled but then also the same cannot be added as income in the hands of the payer company as such amount can be added only to the income of a person as dividend who is a shareholder to whom such loan and advances made. Keeping in view these facts and the aforementioned case law relied upon by ld. CIT(A) and also the provisions of the Act, we are of the opinion that addition in the hands of the assessee company has rightly been deleted by ld. CIT(A) and to that extent we uphold his order and it is held that addition has rightly been deleted in the hands of the assessee company.
ACIT Vs. Oxford Softeck Pvt. Ltd.,
Decided by – ITAT Delhi
ITA No. 1138/Del/2011 Please become a Premium member. If you are already a Premium member, login here to access the full content.