M/S.BHASKAR TRADERS vs. ASST.COMMKNR.OF INCOME TAX,BERHAMPUR
The appeals are dismissed
ITA/174/2018HC Orissa30 Mar 2022
Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE R.K.PATTANAIK
Section 132Section 153ASection 2(22)(e)Section 68
68, and, (b) the amounts secured as loan were
treated as “deemed dividend” by the Assessing Officer (AO).
Aggrieved, the assessee approached the CIT(A), who deleted the
amounts brought to tax. Revenue unsuccessfully appealed the ITAT.
The Revenue urges that the additions made on account of
income from undisclosed sources i.e. by way of suspect credits
claimed
