https://www.taxtmi.com/caselaws?id=257833 The High Court upheld the ITAT's majority opinion, ruling that the amount advanced to the assessee by the firm did not constitute deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961. The court emphasized the lack of evidence establishing a direct link between the firm's loan and SISICOL's accumulated profits, ultimately dismissing the revenue's appeal. en-us Tue, 17 Mar 2015 00:00:00 +0530 Tue, 11 Aug 2015 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257833 The High Court upheld the ITAT's majority opinion, ruling that the amount advanced to the assessee by the firm did not constitute deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961. The court emphasized the lack of evidence establishing a direct link between the firm's loan and SISICOL's accumulated profits, ultimately dismissing the revenue's appeal. Case-Laws Income Tax Tue, 17 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257833