https://www.taxtmi.com/caselaws?id=239051 The Tribunal upheld the CIT(Appeals)' decision to delete the addition made under section 2(22)(e) of the Income Tax Act, 1961. The case involved a loan given by a company to the assessee, with the dispute centering on whether the loan could be taxed as deemed dividend under section 2(22)(e). The Tribunal ruled that none of the conditions for invoking section 2(22)(e) were met, emphasizing that the provision aims to tax dividend in the hands of shareholders, not entities that are not shareholders in the lending company. en-us Fri, 06 Sep 2013 00:00:00 +0530 Sun, 03 May 2015 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239051 The Tribunal upheld the CIT(Appeals)' decision to delete the addition made under section 2(22)(e) of the Income Tax Act, 1961. The case involved a loan given by a company to the assessee, with the dispute centering on whether the loan could be taxed as deemed dividend under section 2(22)(e). The Tribunal ruled that none of the conditions for invoking section 2(22)(e) were met, emphasizing that the provision aims to tax dividend in the hands of shareholders, not entities that are not shareholders in the lending company. Case-Laws Income Tax Fri, 06 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239051