https://www.taxtmi.com/caselaws?id=178859 The Tribunal upheld the validity of re-opening the assessment for the assessment year 2003-04 based on the loan treated as deemed dividend u/s 2(22)(e) of the Act. It determined that the distinction between an intimation u/s 143(1) and an assessment order was crucial, rejecting the argument of 'change of opinion.' Additionally, the Tribunal affirmed the assessment of the loan as deemed dividend u/s 2(22)(e), dismissing the claim that it was part of ordinary money lending activities. The appeal challenging both issues was ultimately dismissed. en-us Fri, 20 Jul 2012 00:00:00 +0530 Mon, 15 Feb 2016 11:17:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178859 The Tribunal upheld the validity of re-opening the assessment for the assessment year 2003-04 based on the loan treated as deemed dividend u/s 2(22)(e) of the Act. It determined that the distinction between an intimation u/s 143(1) and an assessment order was crucial, rejecting the argument of 'change of opinion.' Additionally, the Tribunal affirmed the assessment of the loan as deemed dividend u/s 2(22)(e), dismissing the claim that it was part of ordinary money lending activities. The appeal challenging both issues was ultimately dismissed. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178859