https://www.taxtmi.com/caselaws?id=342327 The ITAT allowed the Assessee's appeal, ruling that the loan obtained on interest did not qualify as 'deemed dividend' under Sec. 2(22)(e) of the IT Act. The judgment emphasized that loans given and repaid with interest, benefiting the company, should not be treated as 'deemed dividends'. The Assessee's arguments, supported by legal precedents, led to the deletion of the amount treated as deemed dividend under the provision. en-us Fri, 28 Apr 2017 00:00:00 +0530 Tue, 02 May 2017 09:30:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342327 The ITAT allowed the Assessee's appeal, ruling that the loan obtained on interest did not qualify as 'deemed dividend' under Sec. 2(22)(e) of the IT Act. The judgment emphasized that loans given and repaid with interest, benefiting the company, should not be treated as 'deemed dividends'. The Assessee's arguments, supported by legal precedents, led to the deletion of the amount treated as deemed dividend under the provision. Case-Laws Income Tax Fri, 28 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342327