https://www.taxtmi.com/caselaws?id=349569 The appeal was partly allowed, with the grounds related to the reopening of the case dismissed. The Tribunal ruled in favor of the assessee, deleting the additions under section 2(22)(e) and concluding that the transaction of Rs. 1.20 crores was a genuine business transaction, not a deemed dividend. This decision was supported by the CBDT Circular and the refund of the security deposit. en-us Wed, 04 Oct 2017 00:00:00 +0530 Tue, 17 Oct 2017 08:52:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349569 The appeal was partly allowed, with the grounds related to the reopening of the case dismissed. The Tribunal ruled in favor of the assessee, deleting the additions under section 2(22)(e) and concluding that the transaction of Rs. 1.20 crores was a genuine business transaction, not a deemed dividend. This decision was supported by the CBDT Circular and the refund of the security deposit. Case-Laws Income Tax Wed, 04 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349569