No Deemed Dividend Without Doubting Purpose & Genuineness of Business Transaction

Lakhmi Chand Tejoo Mal Vs ACIT (ITAT Delhi)

Applying Deemed Dividend Without Disputing Purpose Of Transaction In Violation To CBDT Circular No. 19/2017 Is Invalid.

GIST

1. We have carefully considered the orders of the authorities below and the relevant documents brought to our notice. The undisputed fact is that vide agreement to sell dated 16.5.2003, entered into between the assessee and the company Brahmand System Private Limited, the assessee agreed to sell the

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