https://www.taxtmi.com/caselaws?id=180509 The Tribunal ruled in favor of the assessee, holding that the loan received could not be taxed as deemed dividend u/s 2(22)(e) in the hands of the assessee firm. The Special Bench clarified that deemed income can only be assessed in the hands of a person who is a shareholder of the lender company, which the assessee firm was not. Therefore, the appeal was partly allowed based on the specific circumstances and legal interpretation provided by the Special Bench. en-us Thu, 04 Nov 2010 00:00:00 +0530 Mon, 28 Mar 2016 11:20:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180509 The Tribunal ruled in favor of the assessee, holding that the loan received could not be taxed as deemed dividend u/s 2(22)(e) in the hands of the assessee firm. The Special Bench clarified that deemed income can only be assessed in the hands of a person who is a shareholder of the lender company, which the assessee firm was not. Therefore, the appeal was partly allowed based on the specific circumstances and legal interpretation provided by the Special Bench. Case-Laws Income Tax Thu, 04 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180509