https://www.taxtmi.com/caselaws?id=250438 The High Court ruled in favor of the assessee on all issues. Regarding Section 2(22)(e) of the IT Act, the court held that loans to shareholders meeting the specified conditions would be deemed dividends. For compliance with Section 80IB, the court determined that the provision applied prospectively and did not affect projects approved before April 1, 2005. The court also accepted the validity of a completion certificate issued by the Village Panchayat for benefit eligibility under Section 80IB, emphasizing the specific facts of the case. The decision provided detailed legal analysis supporting the assessee's position. en-us Tue, 15 Jul 2014 00:00:00 +0530 Wed, 13 Aug 2014 08:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250438 The High Court ruled in favor of the assessee on all issues. Regarding Section 2(22)(e) of the IT Act, the court held that loans to shareholders meeting the specified conditions would be deemed dividends. For compliance with Section 80IB, the court determined that the provision applied prospectively and did not affect projects approved before April 1, 2005. The court also accepted the validity of a completion certificate issued by the Village Panchayat for benefit eligibility under Section 80IB, emphasizing the specific facts of the case. The decision provided detailed legal analysis supporting the assessee's position. Case-Laws Income Tax Tue, 15 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250438