DCITCC-2(3), MUMBAI, MUMBAI vs. AVINASH CONSTRUCTIONS, PUNE
In the result, appeal filed by the revenue is dismissed
ITA 841/MUM/2024[2014]Status: DisposedITAT Mumbai28 May 2024
Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit-Cc-2(3) V. Avinash Constructions Room No. 803, 8Th Floor Abil House 2, Ganesh Khind Road Old Cgo Annexe Building Range, Hill Corner, Pune -411007 M. K. Road, Marine Lines Pune, Maharashtra Mumbai- 400020 Pan: Aaefa6358H (Appellant) (Respondent) Assessee Represented By : Shri Vijay Mehta Department Represented By : Shri Ajay Chandra
Section 143(3)Section 153ASection 2(22)(e)
…justified in coming to the conclusion that, in any event, the payment could not be taxed in the hands of the assessee”. Page No. 5 AVINASH CONSTRUCTIONS 10. Similar view was taken by the Hon’ble Bombay High Court in the case of Sunjewels International Ltd., [411 ITR 613], the relevant findings read as under: - “Held, dismissing the appeal, that the appellate authorities were justified in holding that the provisions of section 2(22)(e) were not applicable. The asses-see was not a beneficial owner of any shares in the creditor companies which had advanced the loans. No loan had been given by the creditor companie…
