https://www.taxtmi.com/caselaws?id=216513 The Tribunal allowed the condonation of delay in filing the Cross Objection, leading to its consideration. Regarding the application of section 2(22)(e) of the Income Tax Act, the Tribunal ruled in favor of the assessee, directing the deletion of the deemed dividend addition. Emphasizing the specific shareholding criteria, the Tribunal held that the provision did not apply due to the absence of substantial shareholding by the assessee firm. Consequently, the Revenue's appeal was dismissed, and the assessee's Cross Objections were allowed, based on established legal interpretations and precedents. en-us Wed, 27 Jun 2012 00:00:00 +0530 Wed, 29 Aug 2012 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216513 The Tribunal allowed the condonation of delay in filing the Cross Objection, leading to its consideration. Regarding the application of section 2(22)(e) of the Income Tax Act, the Tribunal ruled in favor of the assessee, directing the deletion of the deemed dividend addition. Emphasizing the specific shareholding criteria, the Tribunal held that the provision did not apply due to the absence of substantial shareholding by the assessee firm. Consequently, the Revenue's appeal was dismissed, and the assessee's Cross Objections were allowed, based on established legal interpretations and precedents. Case-Laws Income Tax Wed, 27 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216513