2022 (1) TMI 796

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....mick, Adv., Mr. Soumen Bhattacharjee, Adv. For the respondent: Mr. Anil Kumar Dugar, Adv., Mr. Rajarshi Chatterjee, Adv. T.S. SIVAGNANAM, J. : This appeal by the revenue filed under Section 260A of the Income Tax Act, 1961 [the Act, in brevity] is directed against the order dated 03.05.2019 passed by the Income Tax Appellate Tribunal, "A" Bench, Kolkata [the Tribunal] in ITA no.541/Kol/2018 ....

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.... of the Income Tax Act, 1961, erroneously not added income being deemed dividend under section 2[22][e] of Income Tax Act, 1961 chargeable to tax without making any enquiry and verification whatsoever which rendered the assessment order erroneous so as to prejudicial to the interest of the revenue ? c. Whether the learned Tribunal has committed substantial error in law in setting aside th....

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....ed by the Assessing Officer under section 153A read with Section 143(3) dated 30.03.2016. The second issue is whether Section 2(22)(e) of the Act could have been invoked by the PCIT and directed the Assessing Officer to re-do the assessment by applying the said provision and cause necessary examination of the issue and re-computed the assessee's income. So far as the second issue is concerned, on ....

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....tary evidence was called for by the Assessing Officer during the course of assessment proceeding and the same were furnished by the assessee. The details of shareholders holding more than 10% shares in the assessee-company was also called for by the Assessing Officer, which was furnished by the assessee. In the tax audit report filed by the assessee along with the return of income, the unsecured l....