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Income Tax Appellate Tribunal, “A” BENCH : BANGALORE
Before: SHRI VIJAY PAL RAO & SHRI S. JAYARAMAN
These two appeals by the revenue are directed against the composite order dated 12.01.2015 of CIT(A) for the assessment years 2009-10 and 2010-11. The only common issue raised by the revenue in these appeals is regarding the addition made by the AO on protective basis on account of deemed dividend under section 2(22)(e) of the Income Tax Act.
We have heard the learned AR as well as learned DR and considered the relevant material on record. The AO while completing the assessment under section 143(3) r.w.s. 153A has made protective assessment in the hand of the assessee for these two assessment years in respect of dividend under section 2(22)(e) of the Act as substantive assessment of the same income was made in the hand of Shri. M. N. Jahanath. The CIT(A) has deleted the addition made by the AO on the ground that the substantive assessment has been confirmed in the hand of Shri. M. N. Jahanath for the assessment year 2008-09 to 2011-12. The coordinate bench of this Tribunal has confirmed the addition made by the AO on account of deemed dividend under section 2(22)(e) in the hand of Shri. M. N. Jahanath for the assessment years 2009-10 and 2010-2011 vide order dated 07.10.2016 in to 1652/Bang/2014. In view of the facts and circumstances of the case, when this Tribunal has upheld the assessment of deemed dividend in the hand of Shri. M. N. Jahanath, the appeals filed by the revenue becomes infructuous. Accordingly, we do not find any reason to interfere in the order of the CIT(A).
In the result, the appeals of the revenue are dismissed.