High Court rules assessment under Income Tax Act should be with shareholder, not assessee

The Delhi High Court dismissed the appeal related to Section 2(22)(e) of the Income Tax Act, holding that assessment should be with the shareholder, not the assessee, following a precedent set in ITA No. 462/2009 (CIT v/s Ankitech Pvt Ltd) on 11.5.2011.

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The Delhi High Court dismissed the appeal in a case related to Section 2(22)(e) of the Income Tax Act, stating that the assessment should be in the hands of the shareholder of the company, not the assessee. The judgment was based on a previous ruling dated 11.5.2011 in ITA No. 462/2009 (CIT V/S ANKITECH PVT LTD.).

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