https://www.taxtmi.com/caselaws?id=332982 The Tribunal held that the loan received by the assessee from M/s Pataka Industries (P) Ltd. could not be treated as deemed dividend under section 2(22)(e) of the Income Tax Act, 1961, as the assessee was not a shareholder in the lending company. The CIT(A)'s decision to delete the addition made by the Assessing Officer was upheld, and the appeal by the Revenue was dismissed. The final judgment confirmed that the loan amount was not assessable as deemed dividend. en-us Wed, 10 Aug 2016 00:00:00 +0530 Sat, 01 Oct 2016 12:51:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332982 The Tribunal held that the loan received by the assessee from M/s Pataka Industries (P) Ltd. could not be treated as deemed dividend under section 2(22)(e) of the Income Tax Act, 1961, as the assessee was not a shareholder in the lending company. The CIT(A)'s decision to delete the addition made by the Assessing Officer was upheld, and the appeal by the Revenue was dismissed. The final judgment confirmed that the loan amount was not assessable as deemed dividend. Case-Laws Income Tax Wed, 10 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332982