https://www.taxtmi.com/caselaws?id=75003 Regular commercial dealings between a travel agency and two tourism-sector concerns were treated as ordinary business transactions rather than loans or advances. Because the payments lacked the character of loan or advance, the deeming fiction under section 2(22)(e) of the Income-tax Act, 1961 did not apply to treat them as deemed dividend. The tax consequence was therefore rejected and the assessee succeeded. en-us Wed, 23 Apr 2008 00:00:00 +0530 Mon, 26 May 2025 15:38:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75003 Regular commercial dealings between a travel agency and two tourism-sector concerns were treated as ordinary business transactions rather than loans or advances. Because the payments lacked the character of loan or advance, the deeming fiction under section 2(22)(e) of the Income-tax Act, 1961 did not apply to treat them as deemed dividend. The tax consequence was therefore rejected and the assessee succeeded. Case-Laws Income Tax Wed, 23 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75003