https://www.taxtmi.com/caselaws?id=260472 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition made under Section 2(22)(e) of the Income Tax Act, 1961. The Tribunal found that the loans given were not deemed dividends as they were not for the individual benefit of the significant shareholder, and there was no evidence of funds flowing to him. Additionally, the Tribunal dismissed the Revenue's contention of non-compliance with Rule 46A. The appeal by the Revenue was ultimately dismissed, and the CIT(A)'s decision was upheld. en-us Thu, 30 Apr 2015 00:00:00 +0530 Sat, 13 Jun 2015 06:28:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260472 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition made under Section 2(22)(e) of the Income Tax Act, 1961. The Tribunal found that the loans given were not deemed dividends as they were not for the individual benefit of the significant shareholder, and there was no evidence of funds flowing to him. Additionally, the Tribunal dismissed the Revenue's contention of non-compliance with Rule 46A. The appeal by the Revenue was ultimately dismissed, and the CIT(A)'s decision was upheld. Case-Laws Income Tax Thu, 30 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260472