https://www.taxtmi.com/caselaws?id=325929 The court upheld the Income Tax Appellate Tribunal's decision regarding interest payments under section 40A(2)(b) of the Income Tax Act, 1961, finding that the appellant had not provided any undue benefit to related parties. However, the court decided to further examine the deletion of deemed dividend under section 2(22)(e) of the Act, questioning the Tribunal's justification for this action. The judgment confirmed the adequacy of interest rates paid by the appellant and required additional scrutiny on the deletion of the deemed dividend amount. en-us Tue, 15 Mar 2016 00:00:00 +0530 Fri, 01 Apr 2016 11:12:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325929 The court upheld the Income Tax Appellate Tribunal's decision regarding interest payments under section 40A(2)(b) of the Income Tax Act, 1961, finding that the appellant had not provided any undue benefit to related parties. However, the court decided to further examine the deletion of deemed dividend under section 2(22)(e) of the Act, questioning the Tribunal's justification for this action. The judgment confirmed the adequacy of interest rates paid by the appellant and required additional scrutiny on the deletion of the deemed dividend amount. Case-Laws Income Tax Tue, 15 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325929