https://www.taxtmi.com/caselaws?id=194090 The High Court upheld the ITAT decision in a tax appeal concerning the interpretation of section 2(22)(e) of the Income Tax Act. The Court affirmed that a deposit received by an assessee company, which did not hold shares in the depositing company, was an intercorporate deposit and not a deemed dividend under the Act. Following established legal principles, the Court dismissed the appeal, finding no distinction in the facts from previous judgments and supporting the correctness of the ITAT's deletion of the addition made by the Assessing Officer. en-us Mon, 18 Jul 2016 00:00:00 +0530 Tue, 29 Aug 2017 09:40:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194090 The High Court upheld the ITAT decision in a tax appeal concerning the interpretation of section 2(22)(e) of the Income Tax Act. The Court affirmed that a deposit received by an assessee company, which did not hold shares in the depositing company, was an intercorporate deposit and not a deemed dividend under the Act. Following established legal principles, the Court dismissed the appeal, finding no distinction in the facts from previous judgments and supporting the correctness of the ITAT's deletion of the addition made by the Assessing Officer. Case-Laws Income Tax Mon, 18 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194090