https://www.taxtmi.com/caselaws?id=181565 The Appellate Tribunal ITAT Delhi dismissed the revenue's appeal against the deletion of an addition of Rs. 37,66,432/- as deemed dividend u/s 2(22)(e) of the Income Tax Act for the assessment year 2006-07. The Tribunal upheld the decision of the Ld. CIT(A) in favor of the assessee, ruling that deemed dividend could only be assessed in the hands of a shareholder of the lender company and not in the hands of any other person. The appeal was dismissed, and the decision to delete the addition of deemed dividend was upheld. en-us Fri, 13 Aug 2010 00:00:00 +0530 Tue, 19 Apr 2016 18:44:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181565 The Appellate Tribunal ITAT Delhi dismissed the revenue's appeal against the deletion of an addition of Rs. 37,66,432/- as deemed dividend u/s 2(22)(e) of the Income Tax Act for the assessment year 2006-07. The Tribunal upheld the decision of the Ld. CIT(A) in favor of the assessee, ruling that deemed dividend could only be assessed in the hands of a shareholder of the lender company and not in the hands of any other person. The appeal was dismissed, and the decision to delete the addition of deemed dividend was upheld. Case-Laws Income Tax Fri, 13 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181565