https://www.taxtmi.com/caselaws?id=335278 The ITAT upheld the CIT(A)'s decision, ruling that the Assessing Officer lacked jurisdiction to make additions under section 153A for completed assessments without incriminating material. Additionally, it was determined that the transactions between the assessee and his company did not qualify as deemed dividends under section 2(22)(e) as they were not gratuitous but provided in exchange for the benefit to the company. Consequently, the revenue's appeals were dismissed, and the assessee's cross objections were also deemed not maintainable. en-us Fri, 09 Sep 2016 00:00:00 +0530 Mon, 08 Aug 2022 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335278 The ITAT upheld the CIT(A)'s decision, ruling that the Assessing Officer lacked jurisdiction to make additions under section 153A for completed assessments without incriminating material. Additionally, it was determined that the transactions between the assessee and his company did not qualify as deemed dividends under section 2(22)(e) as they were not gratuitous but provided in exchange for the benefit to the company. Consequently, the revenue's appeals were dismissed, and the assessee's cross objections were also deemed not maintainable. Case-Laws Income Tax Fri, 09 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335278