https://www.taxtmi.com/caselaws?id=178354 The Tribunal held that the advance received by the assessee from the company, intended to be adjusted against future rent payments, constituted a deemed dividend under section 2(22)(e) of the Income-tax Act. Despite arguments that the advance was a bona fide payment for construction costs, the Tribunal emphasized that the nature of the transaction as advance rent in a landlord-tenant relationship did not negate its classification as a dividend. The decision favored the Revenue, establishing the advance as falling within the scope of deemed dividend under the Income-tax Act. en-us Tue, 25 Feb 2014 00:00:00 +0530 Wed, 03 Feb 2016 09:49:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178354 The Tribunal held that the advance received by the assessee from the company, intended to be adjusted against future rent payments, constituted a deemed dividend under section 2(22)(e) of the Income-tax Act. Despite arguments that the advance was a bona fide payment for construction costs, the Tribunal emphasized that the nature of the transaction as advance rent in a landlord-tenant relationship did not negate its classification as a dividend. The decision favored the Revenue, establishing the advance as falling within the scope of deemed dividend under the Income-tax Act. Case-Laws Income Tax Tue, 25 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178354