https://www.taxtmi.com/caselaws?id=346350 The Tribunal upheld the validity of the notice issued under Section 153A of the Income Tax Act, setting aside the CIT(A)'s decision. Regarding the taxability of deemed dividend under Section 2(22)(e) of the Act, the Tribunal ruled in favor of the assessee, following precedents that deemed dividend is taxable in the hands of registered shareholders. As the assessee company was not a shareholder of the payer company, the addition was deleted. The revenue's appeal was dismissed, affirming the CIT(A)'s decision to delete the deemed dividend addition. en-us Wed, 21 Jun 2017 00:00:00 +0530 Wed, 29 Nov 2017 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346350 The Tribunal upheld the validity of the notice issued under Section 153A of the Income Tax Act, setting aside the CIT(A)'s decision. Regarding the taxability of deemed dividend under Section 2(22)(e) of the Act, the Tribunal ruled in favor of the assessee, following precedents that deemed dividend is taxable in the hands of registered shareholders. As the assessee company was not a shareholder of the payer company, the addition was deleted. The revenue's appeal was dismissed, affirming the CIT(A)'s decision to delete the deemed dividend addition. Case-Laws Income Tax Wed, 21 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346350