https://www.taxtmi.com/caselaws?id=266192 The Tribunal ruled in favor of the assessee in a case concerning the deletion of an addition made under section 2(22)(e) of the Income Tax Act. The Tribunal held that the loan received could not be considered deemed dividend as the assessee was not a shareholder of the lending company. Emphasizing the necessity for the benefit to be received by shareholders for a loan to qualify as deemed dividend, the Tribunal dismissed the Revenue's appeal based on previous rulings and legal interpretations. en-us Fri, 21 Aug 2015 00:00:00 +0530 Sat, 17 Oct 2015 10:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266192 The Tribunal ruled in favor of the assessee in a case concerning the deletion of an addition made under section 2(22)(e) of the Income Tax Act. The Tribunal held that the loan received could not be considered deemed dividend as the assessee was not a shareholder of the lending company. Emphasizing the necessity for the benefit to be received by shareholders for a loan to qualify as deemed dividend, the Tribunal dismissed the Revenue's appeal based on previous rulings and legal interpretations. Case-Laws Income Tax Fri, 21 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266192