2010 (5) TMI 64

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... Jain 1. Whether Reporters of local papers may be allowed to see the judgment?   2. To be referred to the Reporter or not? 3. Whether the judgment should be reported in Digest? BADAR DURREZ AHMED, J (ORAL) 1. This appeal is directed against the order of the Income-tax Appellate Tribunal dated 05.09.2008 passed in ITA No.3881/Del/2004 relating to the assessment year 2001-02. 2. The....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Jyoti Theatres Pvt. Ltd, then the company would have accumulated losses rather than profit. As a result, the said loan of Rs 15 lakhs or any part thereof could not be treated as deemed dividend within the meaning of Section 2(22)(e) of the Income-tax Act, 1961 (hereinafter referred to as 'the said Act'). 4. The tribunal also confirmed the findings returned by the Commissioner of Income-tax (App....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....essee. 5. The learned counsel for the appellant/revenue contended that Jyoti Theatres Pvt. Ltd itself had not shown the said liability towards house tax as an ascertained liability and had not made any provision for the same in their profit and loss account. She questioned the role of the Assessing Officer in the case of the present assessee with regard to consideration of accumulated profits di....