https://www.taxtmi.com/caselaws?id=120096 Payments routed through a mutual running business account in the ordinary course of share-broking and settlement transactions were not treated as loans or advances for section 2(22)(e), so the deemed dividend addition was deleted. Dividend income was held eligible for exemption under section 10(33) because the provision applies to dividend receipts meeting its conditions, regardless of whether the recipient is a trader or investor. Penalty paid to the stock exchange was regarded as a business expenditure arising from regulatory and contractual violations within the exchange framework, so the disallowance was removed. Interest under sections 234B and 234C was held leviable, and the challenge to that charge failed. en-us Thu, 27 Jul 2006 00:00:00 +0530 Thu, 29 Feb 2024 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120096 Payments routed through a mutual running business account in the ordinary course of share-broking and settlement transactions were not treated as loans or advances for section 2(22)(e), so the deemed dividend addition was deleted. Dividend income was held eligible for exemption under section 10(33) because the provision applies to dividend receipts meeting its conditions, regardless of whether the recipient is a trader or investor. Penalty paid to the stock exchange was regarded as a business expenditure arising from regulatory and contractual violations within the exchange framework, so the disallowance was removed. Interest under sections 234B and 234C was held leviable, and the challenge to that charge failed. Case-Laws Income Tax Thu, 27 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120096