Case Law Details
ACIT Vs Vserve Business Solution Pvt. Ltd. (ITAT Delhi)
Assessing Officer has not disputed the fact that the assessee is not a share holder in Intersoft Data Labs Labs Pvt. Ltd. which provided interest free loans to the assessee only because the assessee as well as lender entity are having a common shareholder the Assessing Officer has treated the amount received as deemed dividend. Now, it is fairly well settled that the provisions of section 2(22)(e) of the Act can be invoked in respect of shareholder.
FULL TEXT OF THE ORDER OF ITAT DELHI
This is an appeal by the Revenue against order dated 21.02.2017 of learned Commissioner of Income Tax (Appeals)-13, New Delhi, for the assessment year 2011-12.
2. The grounds raised by the Revenue are as under:
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