https://www.taxtmi.com/caselaws?id=344208 The Tribunal ruled in favor of the assessee in a tax case involving the addition of deemed dividend, non-reconciled AIR data, and change in the method of valuation of closing stock. The Tribunal held that the provisions of Section 2(22)(e) were not applicable as the loan was received from a public company under the amended Companies Act. Additionally, the Tribunal accepted the change in the valuation method as bona fide, deleting the additions made by the Assessing Officer. The matter of non-reconciled AIR data was remanded back for further verification, allowing the appeal for statistical purposes. en-us Wed, 26 Apr 2017 00:00:00 +0530 Mon, 12 Jun 2017 08:54:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344208 The Tribunal ruled in favor of the assessee in a tax case involving the addition of deemed dividend, non-reconciled AIR data, and change in the method of valuation of closing stock. The Tribunal held that the provisions of Section 2(22)(e) were not applicable as the loan was received from a public company under the amended Companies Act. Additionally, the Tribunal accepted the change in the valuation method as bona fide, deleting the additions made by the Assessing Officer. The matter of non-reconciled AIR data was remanded back for further verification, allowing the appeal for statistical purposes. Case-Laws Income Tax Wed, 26 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344208