2019 (7) TMI 1278

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.... The Opponent (s) : None ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) This Tax Appeal under Section 260A of the Income Tax Act, 1961, is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, Ahmedabd 'B' Bench, Ahmedabad, in the the IT (SS) A No.83/Ahd/2018 for the A.Y.2012-13 dated 12/12/2018. 2. The Revenue ....

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....assessee in para 23.1, which reads as under : " Thus, before adverting the issue whether the dividend income is taxable in the year under consideration, we find pertinent to note the argument of the learned counsel for the assessee that there was no dividend income earned by the assessee in the year under consideration. If it is so, then the question of making the addition of the dividend....

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....3.6 Besides the above, we also not that the assessee has declared the dividend income pertaining the assessment year 2012-13 in the assessment year 2013-14 amounting to Rs. 15,29,220.00 which was duly accepted by the Revenue. 23.7. We also note that AO has enquired the credit entries in the bank by issuing a common notice under section 142(1) wherein he asked assessee to furnish the detai....

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.... regard we find that the AO has taken the amount of dividend i.e 43,12,165 for the year ending 31.3.2012 as recorded in the dividend warrant dated 27.9.2012 which was mentioned in Sri-Lankan currency. Thus the AO has also erred in treating the amount recorded in Sri-Lankan currency in dividend warrant as dividend income of the assessee. The copy of the dividend warrant has already been reproduced ....