https://www.taxtmi.com/caselaws?id=182841 The Appellate Tribunal ITAT CHENNAI ruled on the applicability of sec.2(22)(e) of the Income-tax Act, 1961, regarding payments received by the assessee from companies ROCPL and RACPL. The Tribunal directed the Assessing Officer to reexamine the nature of the payments and quantify the deemed dividend accurately based on accumulated profits on each payment date. Criticizing the Assessing Officer's arbitrary approach, the Tribunal emphasized the importance of strict construction of sec.2(22)(e) and the need for a thorough investigation into the source of loans. The appeal of the assessee was allowed for statistical purposes. en-us Fri, 06 Aug 2010 00:00:00 +0530 Fri, 20 May 2016 18:24:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182841 The Appellate Tribunal ITAT CHENNAI ruled on the applicability of sec.2(22)(e) of the Income-tax Act, 1961, regarding payments received by the assessee from companies ROCPL and RACPL. The Tribunal directed the Assessing Officer to reexamine the nature of the payments and quantify the deemed dividend accurately based on accumulated profits on each payment date. Criticizing the Assessing Officer's arbitrary approach, the Tribunal emphasized the importance of strict construction of sec.2(22)(e) and the need for a thorough investigation into the source of loans. The appeal of the assessee was allowed for statistical purposes. Case-Laws Income Tax Fri, 06 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182841