https://www.taxtmi.com/caselaws?id=265321 The Appellate Tribunal ITAT Nagpur ruled in favor of the assessee in a case involving the disallowance of interest expenses under section 37(1) of the Act, application of section 2(22)(e) to loans given by companies to the assessee firm, and the interpretation of deemed dividend provisions. The Tribunal dismissed the Revenue's appeals across all assessment years, emphasizing the lack of nexus between interest-bearing loans and withdrawals made by partners, the application of section 2(22)(e) only to shareholders, and the need to follow decisions of the Jurisdictional High Court. en-us Fri, 28 Aug 2015 00:00:00 +0530 Sat, 10 Oct 2015 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265321 The Appellate Tribunal ITAT Nagpur ruled in favor of the assessee in a case involving the disallowance of interest expenses under section 37(1) of the Act, application of section 2(22)(e) to loans given by companies to the assessee firm, and the interpretation of deemed dividend provisions. The Tribunal dismissed the Revenue's appeals across all assessment years, emphasizing the lack of nexus between interest-bearing loans and withdrawals made by partners, the application of section 2(22)(e) only to shareholders, and the need to follow decisions of the Jurisdictional High Court. Case-Laws Income Tax Fri, 28 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265321