2020 (10) TMI 1158

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....order dated 22.11.2017 passed by the Income Tax Appellate Tribunal, Chennai, 'D' Bench ('the Tribunal' for brevity) in I.T.A.No.639/MDS/2017 for the Assessment Year 2007-08. The appeal was admitted on 30.01.2018 on the following Substantial Questions of Law: "1. Whether the provisions of Section 2(22)(e) of the Income Tax Act, 1961, can be attracted in the absence of any amount being transferred from a company to its shareholder? 2. Whether, in the absence of any actual amount being transferred from a company to its shareholder, a mere entry in the books of such company can constitute payment by way of advance or loan within the meaning of Section 2(22)(e) of the Income Tax Act, 1961? 3. Whether an....

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.... where a declarant means a person, who files a declaration under Section 4 on or before the last date files a declaration to the designated authority in accordance with the provisions of Section 4 in respect of tax arrears, then, notwithstanding anything contained in the Income Tax Act or any other law for the time being in force, the amount payable by the declarant shall be determined in terms of Section 3(a-c) there under. 5. The First Proviso to Section 3 states that in case, where an Appeal or Writ Petition or Special Leave Petition is filed by the Income Tax authority on any issue before the Appellate Forum, the amount payable shall be one-half of the amount in the table stipulated in Section 3 calculated on such issue, in such a ma....