https://www.taxtmi.com/caselaws?id=234959 The High Court affirmed the Tribunal's decision that the amounts received from related entities were not taxable as deemed dividend under section 2(22)(e) of the Income Tax Act. The Court held that the amounts constituted business transactions, not loans, as per the Act's definition. The Court dismissed the Revenue's appeal, clarifying the application of section 2(22)(e) and emphasizing the distinction between business transactions and loans. en-us Wed, 03 Apr 2013 00:00:00 +0530 Fri, 05 Jul 2013 08:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234959 The High Court affirmed the Tribunal's decision that the amounts received from related entities were not taxable as deemed dividend under section 2(22)(e) of the Income Tax Act. The Court held that the amounts constituted business transactions, not loans, as per the Act's definition. The Court dismissed the Revenue's appeal, clarifying the application of section 2(22)(e) and emphasizing the distinction between business transactions and loans. Case-Laws Income Tax Wed, 03 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234959