https://www.taxtmi.com/caselaws?id=180615 The Tribunal upheld the CIT(Appeals)'s decision, confirming that inter-corporate deposits (ICDs) are distinct from loans and advances and thus not subject to deemed dividend provisions under section 2(22)(e) of the Income Tax Act, 1961. Additionally, the Tribunal supported the CIT(Appeals)'s decision to restrict the disallowance of expenditure attributable to dividend to 1/2 % of the average value of investments, dismissing the Revenue's appeal in its entirety. en-us Thu, 19 Dec 2013 00:00:00 +0530 Wed, 07 Sep 2016 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180615 The Tribunal upheld the CIT(Appeals)'s decision, confirming that inter-corporate deposits (ICDs) are distinct from loans and advances and thus not subject to deemed dividend provisions under section 2(22)(e) of the Income Tax Act, 1961. Additionally, the Tribunal supported the CIT(Appeals)'s decision to restrict the disallowance of expenditure attributable to dividend to 1/2 % of the average value of investments, dismissing the Revenue's appeal in its entirety. Case-Laws Income Tax Thu, 19 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180615