https://www.taxtmi.com/caselaws?id=185510 The Tribunal ruled in favor of the assessee, deleting the additions of deemed dividend u/s 2(22)(e) and house hold expenses. It was held that as the loans were received in the previous year, not the assessment year under consideration, the provisions of section 2(22)(e) did not apply. Additionally, the deletion of house hold expenses was upheld based on consistency with previous orders where estimated additions without substantial evidence were deleted. The appeal of the Revenue was dismissed, citing lack of incriminating material and absence of loans received during the relevant assessment year. en-us Fri, 26 Jul 2013 00:00:00 +0530 Tue, 28 Feb 2017 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185510 The Tribunal ruled in favor of the assessee, deleting the additions of deemed dividend u/s 2(22)(e) and house hold expenses. It was held that as the loans were received in the previous year, not the assessment year under consideration, the provisions of section 2(22)(e) did not apply. Additionally, the deletion of house hold expenses was upheld based on consistency with previous orders where estimated additions without substantial evidence were deleted. The appeal of the Revenue was dismissed, citing lack of incriminating material and absence of loans received during the relevant assessment year. Case-Laws Income Tax Fri, 26 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185510