https://www.taxtmi.com/caselaws?id=343627 The Tribunal dismissed all appeals, confirming that deemed dividends under section 2(22)(e) should be taxed in the hands of shareholders holding substantial interest, not in the hands of recipient companies. The Tribunal rejected the applicability of CBDT Circular No. 495, emphasizing adherence to judicial precedents. It also dismissed proportionate taxation based on shareholding in recipient companies, aligning with the principle that deemed dividends are taxable in the hands of shareholders with substantial interest. en-us Wed, 24 May 2017 00:00:00 +0530 Wed, 09 Aug 2017 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343627 The Tribunal dismissed all appeals, confirming that deemed dividends under section 2(22)(e) should be taxed in the hands of shareholders holding substantial interest, not in the hands of recipient companies. The Tribunal rejected the applicability of CBDT Circular No. 495, emphasizing adherence to judicial precedents. It also dismissed proportionate taxation based on shareholding in recipient companies, aligning with the principle that deemed dividends are taxable in the hands of shareholders with substantial interest. Case-Laws Income Tax Wed, 24 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343627