https://www.taxtmi.com/caselaws?id=352329 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to delete the addition towards deemed dividend under section 2(22)(e) in the assessment for Assessment Year 2004-05. It was ruled that the loan received did not fall under the provision as the assessee was not a shareholder of the lending company. The Tribunal emphasized that the deeming provision should be strictly interpreted and unless all conditions were met, the receipt could not be deemed as dividend. The appeal of the Revenue was dismissed, affirming the order of the CIT(A) based on legal principles and precedents. en-us Mon, 16 Oct 2017 00:00:00 +0530 Wed, 13 Dec 2017 08:25:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352329 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to delete the addition towards deemed dividend under section 2(22)(e) in the assessment for Assessment Year 2004-05. It was ruled that the loan received did not fall under the provision as the assessee was not a shareholder of the lending company. The Tribunal emphasized that the deeming provision should be strictly interpreted and unless all conditions were met, the receipt could not be deemed as dividend. The appeal of the Revenue was dismissed, affirming the order of the CIT(A) based on legal principles and precedents. Case-Laws Income Tax Mon, 16 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352329