KHORAKIWALA HOLDINGS AND INVESTMENTS PVT. LTD.,MUMBAI vs. ASST CIT 14(2(1), MUMBAI

Appeal is dismissed

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2013-14

151. The Ld. A.R. submitted that in the above decision it has been held that money received as share application money was not in the nature of loans and advances for the purpose of invoking provisions of section 2(22)(e) of the Act. 10. The Ld. A.R. further argued that the deemed dividend under section 2

ACIT CIR. 12(1)(2), MUMBAI vs. BHARTI AXA LIFE INSURANCE COMPANY LTD., MUMBAI