https://www.taxtmi.com/caselaws?id=271998 The Tribunal held that the loan received by the assessee from M/s Jet Age Finance Limited could not be treated as deemed dividend under Section 2(22)(e) as the assessee was not a shareholder in JAFL. The Tribunal quashed the CIT's order under Section 263, finding no error in the AO's assessment prejudicial to revenue. Consequently, the appeal by the assessee was allowed, and the order was pronounced on 15.1.2016. en-us Fri, 15 Jan 2016 00:00:00 +0530 Wed, 24 Feb 2016 07:43:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271998 The Tribunal held that the loan received by the assessee from M/s Jet Age Finance Limited could not be treated as deemed dividend under Section 2(22)(e) as the assessee was not a shareholder in JAFL. The Tribunal quashed the CIT's order under Section 263, finding no error in the AO's assessment prejudicial to revenue. Consequently, the appeal by the assessee was allowed, and the order was pronounced on 15.1.2016. Case-Laws Income Tax Fri, 15 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271998