https://www.taxtmi.com/caselaws?id=342787 The Tribunal held that the loan obtained by the assessee firm from a Private Limited Company, where the partners of the assessee firm are shareholders, should not be treated as deemed dividend under section 2(22)(e) of the Income Tax Act. Since the assessee firm is not a shareholder in the company, the loan should not be taxed in its hands. The appeal was allowed, and the addition made by the Assessing Officer treating the loan as deemed dividend was deleted. en-us Fri, 21 Apr 2017 00:00:00 +0530 Fri, 12 May 2017 07:36:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342787 The Tribunal held that the loan obtained by the assessee firm from a Private Limited Company, where the partners of the assessee firm are shareholders, should not be treated as deemed dividend under section 2(22)(e) of the Income Tax Act. Since the assessee firm is not a shareholder in the company, the loan should not be taxed in its hands. The appeal was allowed, and the addition made by the Assessing Officer treating the loan as deemed dividend was deleted. Case-Laws Income Tax Fri, 21 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342787