https://www.taxtmi.com/caselaws?id=235369 The High Court upheld the Tribunal's decision to delete the addition of deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961. The Court found that the trust holding the shares was genuine, with the shares settled for the benefit of the family's children and not held by the assessee. The Court emphasized the importance of applying deeming provisions strictly and restrictively, concluding that the Tribunal's findings were based on substantial evidence and did not raise any legal questions. en-us Mon, 29 Apr 2013 00:00:00 +0530 Mon, 03 Feb 2014 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235369 The High Court upheld the Tribunal's decision to delete the addition of deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961. The Court found that the trust holding the shares was genuine, with the shares settled for the benefit of the family's children and not held by the assessee. The Court emphasized the importance of applying deeming provisions strictly and restrictively, concluding that the Tribunal's findings were based on substantial evidence and did not raise any legal questions. Case-Laws Income Tax Mon, 29 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235369