Case Law Details
Case Name : Exotica Housing & Infrastructure Company Pvt. Ltd. Vs ITO (ITAT Delhi)
Appeal Number : ITA No. 5188/Del./2019
Date of Judgement/Order : 24/06/2020
Related Assessment Year : 2013-2014
Courts :
All ITAT ITAT Delhi
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Exotica Housing & Infrastructure Company Pvt. Ltd. Vs ITO (ITAT Delhi)
Transactions carried out through current account for business purposes would not fall within the definition of Deemed Dividend. Therefore provisions of Section 2(22)(e) of the I.T. Act, 1961, would not apply. Also laid emphasis on rule of consistency as held by the Hon’ble Supreme Court in the case of Radhasoami Satsung 193 ITR 321 (SC).
FULL TEXT OF THE ITAT JUDGEMENT
This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-34, New Delhi, Dated 18.03.2019, for the A.Y. 2013-2014.
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