https://www.taxtmi.com/caselaws?id=186162 The ITAT Mumbai allowed the appeal of the assessee, determining that the loans received should not be treated as deemed dividend under section 2(22)(e) as the transaction fell under the money-lending business exemption. Additionally, the ITAT ruled in favor of the assessee regarding the charging of interest under sections 234B and 234D, noting that the assessment order had only directed interest under sections 234B and 234C, leading to relief being granted on this ground. en-us Wed, 25 Jun 2008 00:00:00 +0530 Thu, 08 Sep 2016 18:53:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186162 The ITAT Mumbai allowed the appeal of the assessee, determining that the loans received should not be treated as deemed dividend under section 2(22)(e) as the transaction fell under the money-lending business exemption. Additionally, the ITAT ruled in favor of the assessee regarding the charging of interest under sections 234B and 234D, noting that the assessment order had only directed interest under sections 234B and 234C, leading to relief being granted on this ground. Case-Laws Income Tax Wed, 25 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186162