https://www.taxtmi.com/caselaws?id=233996 The case involved an appeal by the Revenue against the order of the Ld. Commissioner of Income Tax (Appeals) regarding the interpretation of section 2(22)(e) of the Income Tax Act. The issue concerned investments made in mutual funds on behalf of a company by one of its directors, leading to the addition of income under deeming provisions. The Tribunal upheld the deletion of the addition, emphasizing the investments' business purpose, approval by the company's Board of Directors, and immediate transfer of profits back to the company. The Revenue's appeal was dismissed, affirming the deletion of the addition under section 2(22)(e) of the Income Tax Act. en-us Mon, 20 May 2013 00:00:00 +0530 Thu, 23 May 2013 16:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233996 The case involved an appeal by the Revenue against the order of the Ld. Commissioner of Income Tax (Appeals) regarding the interpretation of section 2(22)(e) of the Income Tax Act. The issue concerned investments made in mutual funds on behalf of a company by one of its directors, leading to the addition of income under deeming provisions. The Tribunal upheld the deletion of the addition, emphasizing the investments' business purpose, approval by the company's Board of Directors, and immediate transfer of profits back to the company. The Revenue's appeal was dismissed, affirming the deletion of the addition under section 2(22)(e) of the Income Tax Act. Case-Laws Income Tax Mon, 20 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233996