2025 (12) TMI 419

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.... Suresh Chand Meena, Sr. D.R. ORDER The appeal filed by the assessee is against the order passed by the Ld. Commissioner of Income Tax (Appeals), (in short "Ld. CIT(A)"), ADDL/JCIT(A)-4, Mumbai on 29.07.2025 for A.Y. 2012-13. 2. The grounds of appeal raised by the assessee are as under: "1. The Ld. CIT(A) erred in confirming addition of Rs. 16,00,000 on account of deemed dividend....

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....ny of the grounds before the final hearing of the appeal." 3. The assessee filed return of income on 23.03.2013 declaring total loss of Rs. 9,60,677/-. The case was subjected to re-assessment and notice under Section 148 of the Act was issued on 19.03.2019. The assessee filed return of income on 17.04.2019 thereby admitting total loss of Rs. 9,60,677/- in response to notice under Section 148. S....

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....izance of the assessee's reply held that the payment received by way of loan of Rs. 16,00,000/- has to be considered under Section 2(22)(e) of the Income Tax Act as deemed dividend income of the assessee for A.Y. 2012-13 and added the same. The Assessing Officer also disallowed the interest expenditure to the extent of 17,733/-. 4. Being aggrieved by the assessment order the assessee filed appe....

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.... the shareholding as on 31.03.2012 in the assessee's case. The contention of the assessee that the transfer of fund was from and to the sister concern on need basis for a few days and therefore, receipt and payment of the amount is only for short period and it is as per the exigencies of the business of the assessee company. As per Section 2(22)(e), payment by a company not being a company in whic....