https://www.taxtmi.com/caselaws?id=327561 The Tribunal held that the transactions between the companies involved were current accommodation adjustments and not loans or advances, thus not falling under Section 2(22)(e) regarding deemed dividends. As a result, the appeals by the assessee were allowed, and those by the Revenue were dismissed. The Tribunal emphasized that without the application of Section 2(22)(e), there is no basis for quantifying deemed dividends. The decision was issued on April 5, 2016, in Ahmedabad. en-us Tue, 05 Apr 2016 00:00:00 +0530 Thu, 12 May 2016 22:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327561 The Tribunal held that the transactions between the companies involved were current accommodation adjustments and not loans or advances, thus not falling under Section 2(22)(e) regarding deemed dividends. As a result, the appeals by the assessee were allowed, and those by the Revenue were dismissed. The Tribunal emphasized that without the application of Section 2(22)(e), there is no basis for quantifying deemed dividends. The decision was issued on April 5, 2016, in Ahmedabad. Case-Laws Income Tax Tue, 05 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327561