https://www.taxtmi.com/caselaws?id=216921 The Tribunal upheld the CIT(A)'s decision to delete the additions in the case. The first issue involved the deletion of the addition on account of deemed dividend under section 2(22)(e) of the Income Tax Act, where the Tribunal reiterated that deemed dividends could only be taxed in the hands of shareholders. The second issue pertained to the deletion of the addition on account of payment made to GMB, which the Tribunal confirmed as recurring expenses and not capital expenditure. The Tribunal dismissed the Revenue's appeal on both grounds based on established legal principles and precedents. en-us Mon, 30 Jul 2012 00:00:00 +0530 Tue, 18 Sep 2012 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216921 The Tribunal upheld the CIT(A)'s decision to delete the additions in the case. The first issue involved the deletion of the addition on account of deemed dividend under section 2(22)(e) of the Income Tax Act, where the Tribunal reiterated that deemed dividends could only be taxed in the hands of shareholders. The second issue pertained to the deletion of the addition on account of payment made to GMB, which the Tribunal confirmed as recurring expenses and not capital expenditure. The Tribunal dismissed the Revenue's appeal on both grounds based on established legal principles and precedents. Case-Laws Income Tax Mon, 30 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216921