https://www.taxtmi.com/caselaws?id=217531 The Tribunal upheld the deletion of Rs.1,23,50,000 as deemed dividend in assessment year 2007-08, ruling that the provisions of section 2(22)(e) did not apply as the appellant company was not a shareholder in the paying company. Additionally, the Tribunal found the addition of Rs.15 lakhs unjustified, as the statement made during the survey only referred to paying a tax of Rs.5,00,000 without mentioning additional income tax, leading to the deletion of the said amount and allowing the assessee's appeal. en-us Fri, 06 Jul 2012 00:00:00 +0530 Wed, 17 Oct 2012 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217531 The Tribunal upheld the deletion of Rs.1,23,50,000 as deemed dividend in assessment year 2007-08, ruling that the provisions of section 2(22)(e) did not apply as the appellant company was not a shareholder in the paying company. Additionally, the Tribunal found the addition of Rs.15 lakhs unjustified, as the statement made during the survey only referred to paying a tax of Rs.5,00,000 without mentioning additional income tax, leading to the deletion of the said amount and allowing the assessee's appeal. Case-Laws Income Tax Fri, 06 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217531