https://www.taxtmi.com/caselaws?id=208601 The Tribunal upheld the CIT(A)'s decision, ruling that the security deposit received by the assessee should not be treated as deemed dividend under Section 2(22)(e) of the Income Tax Act, 1962. The Tribunal emphasized that the provision aims to tax dividend in the hands of shareholders, not non-shareholders, and concluded that the security deposit was a commercial transaction distinct from an advance or loan. Therefore, the Tribunal dismissed the department's appeal and affirmed the exclusion of the amount from the assessee's total income. en-us Fri, 14 Oct 2011 00:00:00 +0530 Sun, 22 Jan 2012 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208601 The Tribunal upheld the CIT(A)'s decision, ruling that the security deposit received by the assessee should not be treated as deemed dividend under Section 2(22)(e) of the Income Tax Act, 1962. The Tribunal emphasized that the provision aims to tax dividend in the hands of shareholders, not non-shareholders, and concluded that the security deposit was a commercial transaction distinct from an advance or loan. Therefore, the Tribunal dismissed the department's appeal and affirmed the exclusion of the amount from the assessee's total income. Case-Laws Income Tax Fri, 14 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208601