2010 (5) TMI 886

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.... ORDER K. G. Bansal (Accountant Member) This appeal of the revenue emanates from the order of CIT(A)-IV, New Delhi, passed on 20.10.2009 in I.T. Appeal No.83/08-09. The assessee has taken up two substantive grounds of appeal, which are reproduced below:- i) On the facts and in the circumstances of the case, the learned CIT(A) erred in law and on facts in directing to delete the add....

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....ies that the grounds stand covered by the order of the Tribunal in I.T.A. Nos.4037 & 4038/D/2007 for assessment years 2003-04 & 2004-05 dated 13.03.2009. In fact, a mention has been made in this regard in the grounds themselves where it is mentioned that the revenue is contesting these grounds before the Hon'ble Delhi High Court. The decision of the Tribunal in regard to ground No.1 is contained i....

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....ment year 1996-97 which have been set aside by the CIT(A) and the findings of the CIT(A) have become final. Therefore, no basis is left with the Assessing Officer for making the enhancement in the ALP adopted by the assessee. We accordingly are of the view that the orders of the authorities below cannot sustain under law. We accordingly set aside the orders of the authorities below and the additio....

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.... provisions of section 2(22)(e) is to tax dividend in the hands of shareholder. The deeming provisions as it applies to the case of loans or advances by a company to a concern in which it's shareholder has substantial, is based on the presumption that the loan or advance would ultimately be made available to the shareholders of the company giving the loan or advance. The intention of the legislatu....