https://www.taxtmi.com/caselaws?id=330409 The Tribunal upheld the CIT's order, taxing the loans as deemed dividends under Section 2(22)(e) of the Income Tax Act. The Tribunal found that the loans from Yasham Cemphar Pvt. Ltd. and Yasham Importers & Exporters Pvt. Ltd. to Yasham Bio Science Pvt. Ltd. met the criteria for deemed dividends, despite repayment with interest. The Tribunal emphasized that the nature of the transactions as loans, not inter-corporate deposits, was clear from the accounts. The appeal was dismissed, affirming the taxability of the loans as deemed dividends. en-us Mon, 18 Jul 2016 00:00:00 +0530 Mon, 25 Jul 2016 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330409 The Tribunal upheld the CIT's order, taxing the loans as deemed dividends under Section 2(22)(e) of the Income Tax Act. The Tribunal found that the loans from Yasham Cemphar Pvt. Ltd. and Yasham Importers & Exporters Pvt. Ltd. to Yasham Bio Science Pvt. Ltd. met the criteria for deemed dividends, despite repayment with interest. The Tribunal emphasized that the nature of the transactions as loans, not inter-corporate deposits, was clear from the accounts. The appeal was dismissed, affirming the taxability of the loans as deemed dividends. Case-Laws Income Tax Mon, 18 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330409