https://www.taxtmi.com/caselaws?id=248738 The Tribunal allowed the appeals, setting aside the re-assessment proceedings initiated under Section 147 for AY 2003-04 and AY 2004-05 as they were beyond jurisdiction. Additionally, the additions made under Section 2(22)(e) were quashed, as the loans were found to be advanced in the ordinary course of business and did not qualify as deemed dividends. The decision was pronounced on June 2, 2014, in Chennai. en-us Mon, 02 Jun 2014 00:00:00 +0530 Mon, 23 Jun 2014 08:35:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248738 The Tribunal allowed the appeals, setting aside the re-assessment proceedings initiated under Section 147 for AY 2003-04 and AY 2004-05 as they were beyond jurisdiction. Additionally, the additions made under Section 2(22)(e) were quashed, as the loans were found to be advanced in the ordinary course of business and did not qualify as deemed dividends. The decision was pronounced on June 2, 2014, in Chennai. Case-Laws Income Tax Mon, 02 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248738