https://www.taxtmi.com/caselaws?id=205318 The Tribunal dismissed the revenue's appeal, affirming that the amount received was part payment for the sale of shares, not falling under Section 2(22)(e) of the Income-tax Act. The CIT (Appeals) accepted the explanation supported by an agreement, distinguishing the transaction as not constituting a loan or advance. The Tribunal highlighted the lack of investigation by the AO and the thorough examination by the CIT (Appeals), ultimately upholding the decision based on the evidence presented. en-us Fri, 10 Jun 2011 00:00:00 +0530 Sat, 03 Sep 2011 18:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205318 The Tribunal dismissed the revenue's appeal, affirming that the amount received was part payment for the sale of shares, not falling under Section 2(22)(e) of the Income-tax Act. The CIT (Appeals) accepted the explanation supported by an agreement, distinguishing the transaction as not constituting a loan or advance. The Tribunal highlighted the lack of investigation by the AO and the thorough examination by the CIT (Appeals), ultimately upholding the decision based on the evidence presented. Case-Laws Income Tax Fri, 10 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205318