https://www.taxtmi.com/caselaws?id=208371 The High Court upheld the Tribunal's decision, stating that the provisions of section 2(22)(e) of the Income Tax Act were not applicable as the assessee-company did not hold any shares in the sister-concern. The court emphasized that loans or advances to non-shareholders do not qualify as dividends unless specified under section 2(22)(e). Therefore, the addition under section 2(22)(e) made by the Assessing Officer was deleted, and the appeal was dismissed with no order as to costs. en-us Mon, 21 Nov 2011 00:00:00 +0530 Wed, 13 Jun 2012 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208371 The High Court upheld the Tribunal's decision, stating that the provisions of section 2(22)(e) of the Income Tax Act were not applicable as the assessee-company did not hold any shares in the sister-concern. The court emphasized that loans or advances to non-shareholders do not qualify as dividends unless specified under section 2(22)(e). Therefore, the addition under section 2(22)(e) made by the Assessing Officer was deleted, and the appeal was dismissed with no order as to costs. Case-Laws Income Tax Mon, 21 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208371