https://www.taxtmi.com/caselaws?id=180513 The Tribunal upheld the deletion of an addition of Rs. 1,03,96,888/- on account of disallowance u/s 2(22)(e) of the Income-tax Act, 1961. The ld. CIT(A) found that the amounts received by the assessee were for genuine business transactions and not deemed dividends, supported by detailed documentary evidence. The Tribunal dismissed the Revenue's appeal, noting the absence of valid reasons from the AO to tax the amount as deemed dividend and affirming that commercial advances are outside the scope of section 2(22)(e) deeming provisions. en-us Tue, 28 Aug 2012 00:00:00 +0530 Thu, 26 Oct 2017 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180513 The Tribunal upheld the deletion of an addition of Rs. 1,03,96,888/- on account of disallowance u/s 2(22)(e) of the Income-tax Act, 1961. The ld. CIT(A) found that the amounts received by the assessee were for genuine business transactions and not deemed dividends, supported by detailed documentary evidence. The Tribunal dismissed the Revenue's appeal, noting the absence of valid reasons from the AO to tax the amount as deemed dividend and affirming that commercial advances are outside the scope of section 2(22)(e) deeming provisions. Case-Laws Income Tax Tue, 28 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180513