https://www.taxtmi.com/caselaws?id=234951 The ITAT partly allowed the appeal, ruling in favor of the appellant by deleting the addition related to deemed dividend under sec. 2(22)(e) and disallowance of interest under sec. 57(ii). The ITAT considered the appellant's arguments and legal precedents, concluding that the amount related to the flat purchase was a commercial transaction, not covered under deemed dividend provisions, and that the interest paid was an allowable expenditure against business income. en-us Fri, 19 Apr 2013 00:00:00 +0530 Sat, 02 Apr 2016 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234951 The ITAT partly allowed the appeal, ruling in favor of the appellant by deleting the addition related to deemed dividend under sec. 2(22)(e) and disallowance of interest under sec. 57(ii). The ITAT considered the appellant's arguments and legal precedents, concluding that the amount related to the flat purchase was a commercial transaction, not covered under deemed dividend provisions, and that the interest paid was an allowable expenditure against business income. Case-Laws Income Tax Fri, 19 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234951