https://www.taxtmi.com/caselaws?id=356051 The High Court dismissed the appeal filed by the revenue under Section 260-A of the Income Tax Act, 1961, regarding the interpretation of Section 2(22)(e) on deemed dividend. The court held that the provision does not extend to shareholders but pertains to the definition of dividend. It emphasized that loans or advances under Section 2(22)(e) should be treated as dividend only in the hands of the lender's shareholders, not the borrowing concern. The judgment clarified the distinction between shareholders and the treatment of such transactions, ruling in favor of the assessee and against the revenue. en-us Mon, 19 Feb 2018 00:00:00 +0530 Fri, 23 Feb 2018 06:04:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356051 The High Court dismissed the appeal filed by the revenue under Section 260-A of the Income Tax Act, 1961, regarding the interpretation of Section 2(22)(e) on deemed dividend. The court held that the provision does not extend to shareholders but pertains to the definition of dividend. It emphasized that loans or advances under Section 2(22)(e) should be treated as dividend only in the hands of the lender's shareholders, not the borrowing concern. The judgment clarified the distinction between shareholders and the treatment of such transactions, ruling in favor of the assessee and against the revenue. Case-Laws Income Tax Mon, 19 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356051