https://www.taxtmi.com/caselaws?id=210085 The Tribunal ruled that the payments made by the assessee to various entities and individuals were not deemed dividends under Section 2(22)(e) of the Income-tax Act, 1961. As a result, the assessee was not liable for non-deduction of tax at source under Section 194. The Tribunal found that the payments were made for business purposes and not as loans or advances, thereby excluding them from the ambit of deemed dividends. The Revenue's appeals were dismissed, and the assessee's cross-objections were deemed infructuous. en-us Fri, 06 May 2011 00:00:00 +0530 Fri, 10 Feb 2012 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210085 The Tribunal ruled that the payments made by the assessee to various entities and individuals were not deemed dividends under Section 2(22)(e) of the Income-tax Act, 1961. As a result, the assessee was not liable for non-deduction of tax at source under Section 194. The Tribunal found that the payments were made for business purposes and not as loans or advances, thereby excluding them from the ambit of deemed dividends. The Revenue's appeals were dismissed, and the assessee's cross-objections were deemed infructuous. Case-Laws Income Tax Fri, 06 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210085