https://www.taxtmi.com/caselaws?id=327077 The Tribunal dismissed the Revenue's appeal regarding the addition under section 2(22)(e) of the Income-tax Act, 1961, holding that the loan/advance/ICD given to the assessee did not constitute deemed dividend. Additionally, the Tribunal allowed the assessee's appeal concerning the disallowance of interest, as it found that the assessee had sufficient free funds to cover the share application money, relying on the principle that investments could be presumed to be made from interest-free funds. en-us Fri, 11 Dec 2015 00:00:00 +0530 Sun, 01 May 2016 20:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327077 The Tribunal dismissed the Revenue's appeal regarding the addition under section 2(22)(e) of the Income-tax Act, 1961, holding that the loan/advance/ICD given to the assessee did not constitute deemed dividend. Additionally, the Tribunal allowed the assessee's appeal concerning the disallowance of interest, as it found that the assessee had sufficient free funds to cover the share application money, relying on the principle that investments could be presumed to be made from interest-free funds. Case-Laws Income Tax Fri, 11 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327077