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of <h1>CBDT Circular: Trade Advances in Commercial Transactions Not Considered Dividends Under IT Act Section 2(22)(e.</h1> Circular No. 19/2017, issued by the Central Board of Direct Taxes, clarifies that trade advances in the nature of commercial transactions do not fall under the definition of 'dividend' as per section 2(22)(e) of the Income Tax Act, 1961. This view has been upheld by various court rulings, including cases where advances were made for business transactions, such as job work or security deposits. Consequently, tax officers are advised not to file appeals on this basis, and any existing appeals should be withdrawn. This directive is to be communicated to all relevant parties.
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