Atul Bansal vs. ACIT, Central Circle 16 & ACIT, Central Circle 16 vs. Atul Bansal
Case No: ITA No.2737/DEL/2017 & ITA No.2803/DEL/2017
Court: Income Tax Appellate Tribunal, Delhi Benches ‘A’
Bench: Delhi Bench
Date: 2/6/2026
Parties Involved
assesseeAtul Bansal
revenueACIT, Central Circle 16
Facts Summary
Assessee filed his return of income declaring income of Rs.55,11,320/-. The case was selected for scrutiny. Assessing Officer made an addition of Rs.71,08,35,311/- as deemed dividend u/s 2(22)(e) and rejected exemption claimed u/s 54. Assessee appealed before CIT(A) who allowed the claim of deemed dividend only to the extent of Rs. 20,66,108/- and allowed exemption u/s 54. Revenue filed an appeal before the Tribunal.…
Decision in favour of
Assessee
Legal Issues
- 1. Addition of deemed dividend u/s 2(22)(e)
- 2. Exemption claim u/s 54
Judgment Outcome
Decided in favour of Assessee.
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