https://www.taxtmi.com/caselaws?id=185742 The Tribunal partially allowed the appeal. The claim for deduction under section 80IB(11) on potato trading profits was dismissed as trading activities did not qualify for the deduction. However, the issue of setting off interest paid on a loan for potato trading was remanded to the Assessing Officer for reconsideration. The addition made under section 56 treating the loan as deemed dividend under section 2(22)(e) was deleted, following precedents that deemed dividends should be taxed in the hands of the shareholder. en-us Fri, 31 Aug 2012 00:00:00 +0530 Fri, 26 Aug 2016 14:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185742 The Tribunal partially allowed the appeal. The claim for deduction under section 80IB(11) on potato trading profits was dismissed as trading activities did not qualify for the deduction. However, the issue of setting off interest paid on a loan for potato trading was remanded to the Assessing Officer for reconsideration. The addition made under section 56 treating the loan as deemed dividend under section 2(22)(e) was deleted, following precedents that deemed dividends should be taxed in the hands of the shareholder. Case-Laws Income Tax Fri, 31 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185742