CIT v. Creative Dyeing & Printing Pvt. Ltd.

318 ITR 476High Court2009#887 most cited

What is CIT v. Creative Dyeing & Printing Pvt. Ltd. authority for?

Genuine trade advances or amounts advanced for bona fide business transactions, driven by commercial expediency, do not fall within the definition of deemed dividend under section 2(22)(e) of the Income-tax Act.

119

judgments rely on this decision, according to BharatTax’s citation analysis of 367,518 Indian tax judgments — from 2012 to 2026.

Also referred to as

Creative Dyeing & Printing Pvt. Ltd. · Section 2(22)(e) · deemed dividend · trade advances · commercial expediency · business transactions · definition of dividend · inter-company advances · Section 115-O · Section 115Q

Sections most often in play

Section 2(22)(e)Section 143(3)Section 147Section 148Section 115-OSection 115QSection 132Section 142(1)
Read the full judgment

Issues it is cited on

section 115qaccumulated profitsdeemed dividendsection 2(22)section 2(22)(e)dividend distribution taxbeneficial ownerbusiness expediencystatement under section 132(4)commercial expediencyreason to believesection 132(4)

Judgments citing CIT v. Creative Dyeing & Printing Pvt. Ltd.

DCIT, Circle - 10(1), Kolkata vs. M/S. Dream Bake Pvt. Ltd., Kolkata

ITA 242/KOL/2018[2013-14]Status: DisposedITAT Kolkata31 Jan 2019AY 2013-14

Bench: Shri S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 2(22)(e)Section 40S(2)(b)

…upon legal-technico adaptation, the exception in tem (ii) can be applied. 4.4.2.7 As regards the judicial decisions relied upon by the Learned. AR, I find that the decision of the Hon'ble Delhi High Court in CIT Vs Creative Dyeing and Printing Pvt Ltd. (2009) 318 ITR 476 (Del) is similar to the facts of the appellant’s case: it is hereunder: CTR LIBRARY OF TAX CASES COMMISSONER OF INCOME TAX vs. CREATIVE DYEING & PRINTING (P) Ltd. HIGH COURT OF DELHI A.K. Sikri & Vaimiki, J. Mehta, JJ IT Appeal No.250 of 2009 2nd September, 2009 (2010) 229 CTR (Del) 250: (2009) 318 ITR 476; (2009) 184 TAXMAN 483 : (2009) 30 DTR L…

B.R. Associates Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, all the three appeals of the assessee are allowed

ITA 4966/DEL/2012[2007-08]Status: DisposedITAT Delhi10 Jan 2019AY 2007-08

Bench: : Shri Amit Shukla & Shri L.P. Sahu

Section 10Section 132Section 153ASection 2(22)Section 234ASection 68

…was for the purchase of the manufacturing unit as such, same cannot be treated deemed dividend as envisaged under section 2(22)(e) of the Act. In support of the aforesaid submissions appellant seeks to place reliance on the following judicial pronouncements: 318 ITR 476 (Del) CIT vs. Creative Dyeing and Printing (P) Ltd i) 318 ITR 376 (Del) CIT vs. Amabassador Travels (P) Ltd ii) 318 ITR 462 (Del) CIT vs. Raj Kumar iii) ITA No. 569/2009(Del) dated 3.2.2010 CIT vs. Sunil Sethi iv) ITA NO. 589/2011 (Del) dated 30.09.2011 CIT vs. Arvind Kumar Jain v) ITA No. 1296, 1297/2011 (Del) dated 2.2.2012 CIT vs. Internationa…

B.R. Associates Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, all the three appeals of the assessee are allowed

ITA 4965/DEL/2012[2006-07]Status: DisposedITAT Delhi10 Jan 2019AY 2006-07

Bench: : Shri Amit Shukla & Shri L.P. Sahu

Section 10Section 132Section 153ASection 2(22)Section 234ASection 68

…was for the purchase of the manufacturing unit as such, same cannot be treated deemed dividend as envisaged under section 2(22)(e) of the Act. In support of the aforesaid submissions appellant seeks to place reliance on the following judicial pronouncements: 318 ITR 476 (Del) CIT vs. Creative Dyeing and Printing (P) Ltd i) 318 ITR 376 (Del) CIT vs. Amabassador Travels (P) Ltd ii) 318 ITR 462 (Del) CIT vs. Raj Kumar iii) ITA No. 569/2009(Del) dated 3.2.2010 CIT vs. Sunil Sethi iv) ITA NO. 589/2011 (Del) dated 30.09.2011 CIT vs. Arvind Kumar Jain v) ITA No. 1296, 1297/2011 (Del) dated 2.2.2012 CIT vs. Internationa…

B.R. Associates Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, all the three appeals of the assessee are allowed

ITA 4964/DEL/2012[2005-06]Status: DisposedITAT Delhi10 Jan 2019AY 2005-06

Bench: : Shri Amit Shukla & Shri L.P. Sahu

Section 10Section 132Section 153ASection 2(22)Section 234ASection 68

…was for the purchase of the manufacturing unit as such, same cannot be treated deemed dividend as envisaged under section 2(22)(e) of the Act. In support of the aforesaid submissions appellant seeks to place reliance on the following judicial pronouncements: 318 ITR 476 (Del) CIT vs. Creative Dyeing and Printing (P) Ltd i) 318 ITR 376 (Del) CIT vs. Amabassador Travels (P) Ltd ii) 318 ITR 462 (Del) CIT vs. Raj Kumar iii) ITA No. 569/2009(Del) dated 3.2.2010 CIT vs. Sunil Sethi iv) ITA NO. 589/2011 (Del) dated 30.09.2011 CIT vs. Arvind Kumar Jain v) ITA No. 1296, 1297/2011 (Del) dated 2.2.2012 CIT vs. Internationa…

Jinendra Kumar Jain, New Delhi vs. ACIT, Circle-59(1), New Delhi

In the result, appeal of Assessee is partly allowed

ITA 5907/DEL/2017[2011-12]Status: DisposedITAT Delhi19 Dec 2018AY 2011-12

Bench: Shri H.S. Sidhu & Shri L.P. Sahu

Section 2(22)(e)Section 271(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘C’ NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER I.T.A .No.-5907/Del/2017 (ASSESSMENT YEAR-2011-12) vs JINENDRA KUMAR JAIN, ACIT, CIRCLE 59(1), NEW DELHI C/O RAJ KUMAR & ASSOCIATES, CHARTERED ACCOUNTANTS, L-7A, LGF, SOUTH EXTENSION, PART-2, NEW DELHI – 110 049 PAN No. AAFPJ7404C) (APPELLANT) Appellant by Shri Raj Kumar, CA Respondent by Shri Sridhar Dora, Sr. Dr. ORDER PER H.S. SIDHU, JM This appeal filed by the Assessee is directed against the Order dated 7.9.2017 of the Ld. CIT(A)-37, New Delhi relevant to assessment…

DCIT, New Delhi vs. Sh. Gaurav Arora, New Delhi

In the result, the appeal is partly allowed

ITA 2035/DEL/2016[2012-13]Status: DisposedITAT Delhi17 Dec 2018AY 2012-13

Bench: Shri H.S. Sidhu & Shri O.P. Kant

For Appellant: NoneFor Respondent: Shri B.S. Rajpurohit, Sr. DR
Section 132Section 153ASection 2(22)

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B”: NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER ITA Nos.2034,2035/Del/2016 Asstt. Years: 2011-12, 2012-13 DCIT Shri Gaurav Arora Central Circle-29, Room No. FA-45, 318, Shivaji Enclave 3rd Floor, ARA Centre, New Delhi – 110 027 Vs. Jhandewalan Extn. PAN ADQPA7169R New Delhi. (Appellant) (Respondent) Department by: Shri B.S. Rajpurohit, Sr. DR Nidhi Srivastava, CIT(DR) Assessee by : None Date of Hearing 06/12/2018 Date of 17/12/2018 pronouncement O R D E R PER O.P. KANT, A.M. These two appeals by the revenue are directed ag…

DCIT, New Delhi vs. Sh. Gaurav Arora, New Delhi

In the result, the appeal is partly allowed

ITA 2034/DEL/2016[2011-12]Status: DisposedITAT Delhi17 Dec 2018AY 2011-12

Bench: Shri H.S. Sidhu & Shri O.P. Kant

For Appellant: NoneFor Respondent: Shri B.S. Rajpurohit, Sr. DR
Section 132Section 153ASection 2(22)

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B”: NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER ITA Nos.2034,2035/Del/2016 Asstt. Years: 2011-12, 2012-13 DCIT Shri Gaurav Arora Central Circle-29, Room No. FA-45, 318, Shivaji Enclave 3rd Floor, ARA Centre, New Delhi – 110 027 Vs. Jhandewalan Extn. PAN ADQPA7169R New Delhi. (Appellant) (Respondent) Department by: Shri B.S. Rajpurohit, Sr. DR Nidhi Srivastava, CIT(DR) Assessee by : None Date of Hearing 06/12/2018 Date of 17/12/2018 pronouncement O R D E R PER O.P. KANT, A.M. These two appeals by the revenue are directed ag…

ACIT, Circle - 50(1), Kolkata vs. Shri Ranjit Kumar Saha, Kolkata

In the result, the appeal filed by the Revenue and cross objection filed by the Assesse, both are dismissed

ITA 2192/KOL/2017[2013-14]Status: DisposedITAT Kolkata30 Nov 2018AY 2013-14

Bench: Shri S. S. Ravi, J.M. & Dr.A.L.Saini, A.M.)

For Appellant: Shri Subash Agarwal, Advocate, ld.ARFor Respondent: Shri C.J. Singh, ld.Sr.DR
Section 131Section 143(3)Section 2(22)Section 2(22)(e)

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘D’, KOLKATA (Before Shri S. S. Ravi, J.M. & Dr.A.L.Saini, A.M.) ITA No. 2192/Kol/2017 : Asstt. Year : 2013-14 A.C.I.T, Cir-50(1), Kolkata Vs Shri Ranjit Kumar Saha PAN: ALQPS 1759K (ASSESSEE/Department) (RESPONDENT/Assessee) C.O. No. 40/Kol/2018 [ arising out of ITA No. 2192/Kol/2017, A.Y 2013-14] Shri Ranjit Kumar Saha Vs A.C.I.T, Cir-50(1), Kolkata PAN: ALQPS 1759K (CROSS OBJECTOR) (RESPONDENT) Department by : Shri C.J. Singh, ld.Sr.DR Assessee by : Shri Subash Agarwal, Advocate, ld.AR Date of Hearing : 14-11-2018 Date of Pronouncement:30.11.2018 ORDER…

Jinendra Kumar Jain, New Delhi vs. ACIT, New Delhi

In the result, appeal of Assessee is partly allowed

ITA 4126/DEL/2014[2011-12]Status: DisposedITAT Delhi19 Nov 2018AY 2011-12

Bench: Shri Bhavnesh Saini, J.M. & Shri L.P. Sahu, A.M.

For Appellant: Shri Raj Kumar Gupta, C.AFor Respondent: Smt. Naina Soin Kapil, Sr.DR
Section 2(22)(e)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “D” : DELHI BEFORE SHRI BHAVNESH SAINI, J.M. AND SHRI L.P. SAHU, A.M. ITA.No.4126/Del./2014 Assessment Year 2011-2012 Shri Jinendra Kumar Jain, Delhi. PAN AAFPJ7404C The ACIT, Circle-36(1), vs. C/o. Raj Kumar Associates, New Delhi. C.As. 4435/7, Ansari Road, Daryaganj, New Delhi – 002. (Appellant) (Respondent) For Assessee : Shri Raj Kumar Gupta, C.A. For Revenue : Smt. Naina Soin Kapil, Sr.DR Date of Hearing : 01.11.2018 Date of Pronouncement : 19.11.2018 ORDER PER BHAVNESH SAINI, J.M. This appeal by Assessee has been directed against the Order of the Ld. CIT(…

Nutun Malpani, Hyderabad vs. Asst.Commissioner of Income Tax, Circle-1, Nizamabad

In the result, appeal of the assessee is allowed

ITA 2029/HYD/2017[2014-15]Status: DisposedITAT Hyderabad09 Nov 2018AY 2014-15

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri T.S. Ajai, ARFor Respondent: Smt. M. Narmada, DR
Section 143(1)Section 143(2)Section 2(22)(e)Section 34

…straightforward, clear and shorn of any ambiguity. The same cannot be called a device more so a colorable device to invoke the deeming provisions. It is well settled that business and commercial transactions do not fall within the ambit of section 2(22)(e). (318 ITR 476 Raj). CIT v. Nagindas M. Kapadia (1989) 177 ITR 393 (Bom). 'Loans or Advances', u/s 2(22)(e) can be applied to 'Loans' or 'Advances' simplicitor and not to those transactions carried out in course of business as such. If this purpose is kept in mind then, the word 'Advance' has to be read in conjunction with the word 'Loan'. Usually attributes of…

The Dy. Commissioner of Income Tax, Circle-2(1)(2), Surat vs. Sai Jyoti Fashions Pvt. Ltd., Surat

In the result, the appeal of the Revenue is dismissed

ITA 2365/AHD/2016[2008-0]Status: DisposedITAT Surat24 Oct 2018

Bench: C .M. Garg & O. P. Meenaआ सं अ

Section 2(22)(e)Section 56(2)(i)

…] , DCIT v. M/s. Gilbarco Veeder Root India Pvt. Ltd. [I.T.A.No. 1003/Mum/2017 A.Y. 10-11 dtd. 20.06.2018] and CIT v. DCIT 2(1)(2) Surat v. Sai Jyoti Fashion Pvt. Ltd. /I.T.A. No.2365/Ahd/2016/A.Y.0809 Page 5 of 7 Creative Dyeing & Printing Pvt. Ltd. [2009] 318 ITR 476/ 184 Taxman 483 (Delhi). 7. We have heard the rival submissions and perused the relevant material on record. We are of the view that provisions of section 2(22)(e) of the Act covers three types of payment i.e. firstly, the payment by way of loan or advances to a shareholder, secondly the payment to any concern in which such shareholder is a membe…

Pyramid Realtors Pvt. Ltd., New Delhi vs. ACIT, New Delhi

ITA 2057/DEL/2017[2010-11]Status: DisposedITAT Delhi08 Oct 2018AY 2010-11

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri Pradeep Singh Gautam
Section 143(1)Section 143(3)Section 2(22)(e)

…elhi & Others. • (2007) 11 SOT 302 (Mum), M.S. Securities Ltd. vs. DCIT • ITA No. 3036/Del/2005, Delhi Tribunal Bench order dated 9th May 2008 in the case of Creative Dyeing & Printing Pvt. Ltd. vs. ITO which has been affirmed by Delhi High Court reported in 318 ITR 476 (Del). 14.3.4 Under the provisions of section 2(22)(e) of the IT Act, the legislature has uses the expression “by way of advances or loans” which shows that it is not all the payments received from the sister company was to be treated as deemed dividend but only the payments which bear the characteristics of loans and advances are to be consider…

Saga Developers Pvt. Ltd., New Delhi vs. ACIT, New Delhi

ITA 2056/DEL/2017[2010-11]Status: DisposedITAT Delhi08 Oct 2018AY 2010-11

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri Pradeep Singh Gautam
Section 143(1)Section 143(3)Section 2(22)(e)

…elhi & Others. • (2007) 11 SOT 302 (Mum), M.S. Securities Ltd. vs. DCIT • ITA No. 3036/Del/2005, Delhi Tribunal Bench order dated 9th May 2008 in the case of Creative Dyeing & Printing Pvt. Ltd. vs. ITO which has been affirmed by Delhi High Court reported in 318 ITR 476 (Del). 14.3.4 Under the provisions of section 2(22)(e) of the IT Act, the legislature has uses the expression “by way of advances or loans” which shows that it is not all the payments received from the sister company was to be treated as deemed dividend but only the payments which bear the characteristics of loans and advances are to be consider…

Saamag Construction Ltd., New Delhi vs. ACIT, New Delhi

ITA 2054/DEL/2017[2010-11]Status: DisposedITAT Delhi08 Oct 2018AY 2010-11

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri Pradeep Singh Gautam
Section 143(1)Section 143(3)Section 2(22)(e)

…elhi & Others. • (2007) 11 SOT 302 (Mum), M.S. Securities Ltd. vs. DCIT • ITA No. 3036/Del/2005, Delhi Tribunal Bench order dated 9th May 2008 in the case of Creative Dyeing & Printing Pvt. Ltd. vs. ITO which has been affirmed by Delhi High Court reported in 318 ITR 476 (Del). 14.3.4 Under the provisions of section 2(22)(e) of the IT Act, the legislature has uses the expression “by way of advances or loans” which shows that it is not all the payments received from the sister company was to be treated as deemed dividend but only the payments which bear the characteristics of loans and advances are to be consider…

Saamag Developers Pvt. Ltd., New Delhi vs. ACIT, New Delhi

ITA 2053/DEL/2017[2010-11]Status: DisposedITAT Delhi08 Oct 2018AY 2010-11

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri Pradeep Singh Gautam
Section 143(1)Section 143(3)Section 2(22)(e)

…elhi & Others. • (2007) 11 SOT 302 (Mum), M.S. Securities Ltd. vs. DCIT • ITA No. 3036/Del/2005, Delhi Tribunal Bench order dated 9th May 2008 in the case of Creative Dyeing & Printing Pvt. Ltd. vs. ITO which has been affirmed by Delhi High Court reported in 318 ITR 476 (Del). 14.3.4 Under the provisions of section 2(22)(e) of the IT Act, the legislature has uses the expression “by way of advances or loans” which shows that it is not all the payments received from the sister company was to be treated as deemed dividend but only the payments which bear the characteristics of loans and advances are to be consider…

A.C.I.T.-4(1), Agra vs. M/S Roger Industries Ltd., Agra

In the result, the appeal is dismissed

ITA 266/AGR/2014[2008-09]Status: DisposedITAT Agra05 Oct 2018AY 2008-09
Section 14ASection 2Section 2(22)(e)

…t of the company. The sum of `20,75,000/- could not be treated as deemed dividend. The Division Bench of the Hon'ble Calcutta High Court followed the decision of the Hon'ble Delhi High Court in the case of CIT Vs. Creative Dyeing & Printing P.Ltd. reported as 318 ITR 476(Del). In the instant case also the assessee was allowed to withdraw funds from the company as per requirement for personal purposes against the personal guarantee and the collateral security given by her to facilitate her availing of credit facility of the company. It is a well settled law that loan or advance given to a shareholder by a company…

ITO, Coimbatore vs. Indo Shell Automotive Systems India Private Ltd., Coimbatore

In the result, the appeal of the Revenue is dismissed

ITA 1973/CHNY/2015[2012-13]Status: DisposedITAT Chennai03 Oct 2018AY 2012-13

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

For Respondent: Shri . Sailendra Mamidi, PCIT
Section 2(22)

…purchase orders of M/s.ISML and there was a continuing series of receipts and sales from/to M/s.ISML. Ld. Commissioner of Income Tax (Appeals) relying on the judgment of Hon’ble Delhi High Court in thecae of CIT vs. Creative Dyeing & Printing (P) Ltd (2009) 318 ITR 476 held that there being regular business transactions between two companies, advances received could not be treated as a loan or an advance in the nature of a loan. According to ld. Commissioner of Income Tax (Appeals) advances received during ordinary course of business, for business expediency, would not constitute loan for the purpose of app…

Indoshell Automotive Systems India P Ltd., Chennai vs. ITO, Coimbatore

In the result, the appeal of the Revenue is dismissed

ITA 1691/CHNY/2015[2012-13]Status: DisposedITAT Chennai03 Oct 2018AY 2012-13

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

For Respondent: Shri . Sailendra Mamidi, PCIT
Section 2(22)

…purchase orders of M/s.ISML and there was a continuing series of receipts and sales from/to M/s.ISML. Ld. Commissioner of Income Tax (Appeals) relying on the judgment of Hon’ble Delhi High Court in thecae of CIT vs. Creative Dyeing & Printing (P) Ltd (2009) 318 ITR 476 held that there being regular business transactions between two companies, advances received could not be treated as a loan or an advance in the nature of a loan. According to ld. Commissioner of Income Tax (Appeals) advances received during ordinary course of business, for business expediency, would not constitute loan for the purpose of app…

Trilok Chand Chaudhary, New Delhi vs. ACIT, Central Circle- 26, New Delhi

ITA 5871/DEL/2017[2012-13]Status: DisposedITAT Delhi20 Sept 2018AY 2012-13

Bench: Shri Bhavnesh Saini & Shri L.P. Sahuvs Mr. Trilok Chand Acit Chaudhary, Central Circle 26, 39, Gadai Pur, Mehrauli, New Delhi. New Delhi. 110030 Pan No. Aaepc0683P

Section 131Section 132Section 132(4)Section 139Section 153A

…ase of land which will not fall 18 within the definition of deemed dividend and relied upon Board Circular No. 19/2017 dated 12.06.2017, Judgment of Delhi High Court in the case of CIT vs. Raj Kumar 318 ITR 462, CIT vs. Creative Dying and Printing P. Ltd. 318 ITR 476. Ld. Counsel for the assessee therefore, submitted that appeal of the assessee may be allowed. 12. On the other hand, Ld. DR relied upon the orders of the authorities below and submitted that the documents in question were seized from the possession of the assessee. Therefore, section 292C/132(4) apply. Summons issued to both the companies wer…

DCIT, Circle-10(1), Kolkata vs. M/S Dream Bake (P) Ltd., Kolkata

Appeal is dismissed

ITA 1878/KOL/2016[2012-13]Status: DisposedITAT Kolkata19 Sept 2018AY 2012-13

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13 Dcit, Circle-10(1), V/S. M/S Dream Bake (P) Ltd. P-7, Chowringhee 296, Kalu Khan Road, Square, 3Rd Floor, Kolkat-154 Kolkata-69 [Pan No.Aabcd 1189 R] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri R. Choudhury, Addl. Cit-Dr अपीलाथ" क" ओर से/By Appellant Shri A.K. Ghosh, Ar ""यथ" क" ओर से/By Respondent 13-08-2018 सुनवाई क" तार"ख/Date Of Hearing 19-09-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Revenue’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax (Appeals)-4, Kolkata’S Order Dated 27.07.2016, Passed In Case No.1839/Cit(A)/4/Circle-10(1)/Kol/14-15, Reversing Assessing Officer’S Action Making Section 2(22)(E) Deemed Dividend Addition Of ₹90,98,080/- In Proceedings U/S. 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. 2. The Revenue’S Sole Substantive Ground Seeks To Revive The Assessing Officer’S Action Making Sec. 2(22)(E) Deemed Dividend Addition Of ₹2,42,00,000/- In Assessment Order Dated 07.02.2015. Learned Departmental Representative Invites Our Attention To The Cit(A)’S Detailed Discussion To This Effect Reading As Under:- “5. Ground No.2 This Ground Is Directed Against The Action Of The Ao In Making Addition Of ₹2,42,00,000/- U/S. 2(22)(E) Of The Act. This Matte Is Discussed From Para 4 To Para 4.3

Section 143(3)Section 2(22)(e)

…upon legal-technico adaptation, the exception in tem (ii) can be applied. 4.4.2.7 As regards the judicial decisions relied upon by the Learned. AR, I find that the decision of the Hon'ble Delhi High Court in CIT Vs Creative Dyeing and Printing Pvt Ltd. (2009) 318 ITR 476 (Del) is similar to the facts of the appellant’s case: it is hereunder: CTR LIBRARY OF TAX CASES COMMISSONER OF INCOME TAX vs. CREATIVE DYEING & PRINTING (P) Ltd. HIGH COURT OF DELHI A.K. Sikri & Vaimiki, J. Mehta, JJ IT Appeal No.250 of 2009 2nd September, 2009 (2010) 229 CTR (Del) 250: (2009) 318 ITR 476; (2009) 184 TAXMAN 483 : (2009) 30 DTR L…