SH. ATUL BANSAL,NEW DELHI vs. ACIT, NEW DELHI

ITA 2737/DEL/2017Status: DisposedITAT Delhi06 February 2026AY 2013-14Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI S. RIFAUR RAHMAN (Accountant Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the provisions of Section 2(22)(e) were not applicable as the assessee did not hold the requisite shareholding in the lending entities and the entities lacked accumulated profits. The Tribunal also found the assessee eligible for the Section 54 deduction.

What were the facts?

The Assessing Officer treated loans and advances given to certain entities as deemed dividend under Section 2(22)(e) and disallowed exemption claimed under Section 54 for failure to provide supporting documents. The assessee appealed to the CIT(A).

What were the issues?

Whether loans and advances to related entities constitute deemed dividend under Section 2(22)(e) and whether the assessee is eligible for deduction under Section 54.

Which sections of the Income-tax Act were involved?

Section 2(22)(e),Section 54

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCHES ‘A’: NEW DELHI.

Hearing: 18.11.2025

PER S. RIFAUR RAHMAN, ACCOUNTANT MEMBER :

1.

These cross appeals are filed by the assessee and Revenue against the order of ld. Commissioner of Income-tax (Appeals)-XXVI, New Delhi (hereinafter referred to ‘ld. CIT (A)’) dated 16.02.2017 for Assessment Year 2013-14. 2. Since the issues are common and the appeals are connected, hence the same are heard together and being disposed off by this common order.

3.

None appeared on behalf of the assessee, we proceeded to hear the case with the assistance of Ld. DR.

4.

First we take up the appeal of revenue in ITA No.2803/Del/2017 for AY 2013-14

5.

Brief facts of the case are, assessee filed his return of income on 01.03.2

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 2(22)(e)

All 1,757 judgments and leading authorities on Section 2(22)(e) →

Recent GST High Court judgments

Search GST case law →