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Deemed Dividend Deleted as Transactions Were Business Dealings

CA Vijayakumar Shetty 14 Jan 2026 147 Views 1 comment Print
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Case Law Details

Case Name : ACIT Vs Om Prakash Arora (ITAT Delhi)
Related Assessment Year : 2015-16
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ACIT Vs Om Prakash Arora (ITAT Delhi)

Reopening Upheld; Deemed Dividend & Section 14A Deletions Confirmed, but Short-Term Capital Loss on Property Reversed

The Delhi Bench of the ITAT delivered a detailed ruling covering reopening, deemed dividend, section 14A disallowance, cash deposits, sundry creditors, commission payments, and large property transactions for AYs 2015-16 and 2016-17.

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Author Bio

CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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