https://www.taxtmi.com/caselaws?id=187718 The Tribunal partially allowed the assessee's appeal, remitting the issues of calculating deemed dividend and eligibility for deduction under section 80IB(4) back to the Assessing Officer for reconsideration. The Tribunal held that the provisions of section 2(22)(e) applied to advances received by the assessee, rejecting the argument that the term "person" only referred to individuals. The calculation of deemed dividend was to be revised in accordance with decisions of higher courts. The eligibility for deduction under section 80IB(4) was to be verified by the Assessing Officer, allowing the assessee to provide supporting evidence. en-us Fri, 06 Jun 2008 00:00:00 +0530 Thu, 03 Nov 2016 17:41:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187718 The Tribunal partially allowed the assessee's appeal, remitting the issues of calculating deemed dividend and eligibility for deduction under section 80IB(4) back to the Assessing Officer for reconsideration. The Tribunal held that the provisions of section 2(22)(e) applied to advances received by the assessee, rejecting the argument that the term "person" only referred to individuals. The calculation of deemed dividend was to be revised in accordance with decisions of higher courts. The eligibility for deduction under section 80IB(4) was to be verified by the Assessing Officer, allowing the assessee to provide supporting evidence. Case-Laws Income Tax Fri, 06 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187718