https://www.taxtmi.com/caselaws?id=67753 The Tribunal partially allowed the appeals, permitting the assessee to raise additional grounds related to the initiation of assessment proceedings under section 147(b) and the taxability of deemed dividends under section 2(22)(e) of the IT Act, 1961. The Tribunal directed the lower authorities to examine whether the loans were made in the ordinary course of business and whether lending money was a substantial part of the company's business. The issue was remanded to the ITO for further investigation and findings, emphasizing the importance of considering the additional grounds for a proper decision. en-us Wed, 28 Feb 1979 00:00:00 +0530 Mon, 14 Mar 2011 14:19:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67753 The Tribunal partially allowed the appeals, permitting the assessee to raise additional grounds related to the initiation of assessment proceedings under section 147(b) and the taxability of deemed dividends under section 2(22)(e) of the IT Act, 1961. The Tribunal directed the lower authorities to examine whether the loans were made in the ordinary course of business and whether lending money was a substantial part of the company's business. The issue was remanded to the ITO for further investigation and findings, emphasizing the importance of considering the additional grounds for a proper decision. Case-Laws Income Tax Wed, 28 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67753