https://www.taxtmi.com/caselaws?id=195000 The Appellate Tribunal dismissed the Revenue's appeal, affirming the Commissioner of Income Tax (Appeals) decisions. The Tribunal upheld that the loans received by the assessee from companies where they were a substantial shareholder did not constitute deemed dividends. Additionally, the disallowance under section 40(a)(ia) for failure to deduct tax at source was deleted, as the assessee's non-submission of Form No.15G did not warrant the disallowance. Consequently, the Revenue's grounds on both issues were dismissed. en-us Thu, 30 Apr 2015 00:00:00 +0530 Wed, 11 Oct 2017 06:08:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195000 The Appellate Tribunal dismissed the Revenue's appeal, affirming the Commissioner of Income Tax (Appeals) decisions. The Tribunal upheld that the loans received by the assessee from companies where they were a substantial shareholder did not constitute deemed dividends. Additionally, the disallowance under section 40(a)(ia) for failure to deduct tax at source was deleted, as the assessee's non-submission of Form No.15G did not warrant the disallowance. Consequently, the Revenue's grounds on both issues were dismissed. Case-Laws Income Tax Thu, 30 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195000