https://www.taxtmi.com/caselaws?id=120519 The appeals were dismissed by the Tribunal, which upheld the validity of the reopening of the assessment under section 147 of the Income-tax Act, as the original assessment was not completed under section 143(3). The Tribunal also confirmed the addition of amounts as deemed dividends under section 2(22)(e), agreeing with the CIT(A) that the transactions were loans and advances, thereby falling under the deemed dividend provisions due to the shareholding patterns and substantial interest in both companies. en-us Wed, 14 May 2008 00:00:00 +0530 Tue, 12 Dec 2023 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120519 The appeals were dismissed by the Tribunal, which upheld the validity of the reopening of the assessment under section 147 of the Income-tax Act, as the original assessment was not completed under section 143(3). The Tribunal also confirmed the addition of amounts as deemed dividends under section 2(22)(e), agreeing with the CIT(A) that the transactions were loans and advances, thereby falling under the deemed dividend provisions due to the shareholding patterns and substantial interest in both companies. Case-Laws Income Tax Wed, 14 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120519