https://www.taxtmi.com/caselaws?id=358396 The Tribunal ruled in favor of the appellant, holding that the Principal Commissioner of Income Tax erred in assuming jurisdiction under section 263 of the Income Tax Act. It found that the transactions in question were current account dealings and not deemed dividends under Section 2(22)(e) of the Act. The Tribunal quashed the revision order, granting relief to the appellant and emphasizing the distinction between loans/advances and current accounts. en-us Wed, 04 Apr 2018 00:00:00 +0530 Wed, 11 Apr 2018 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358396 The Tribunal ruled in favor of the appellant, holding that the Principal Commissioner of Income Tax erred in assuming jurisdiction under section 263 of the Income Tax Act. It found that the transactions in question were current account dealings and not deemed dividends under Section 2(22)(e) of the Act. The Tribunal quashed the revision order, granting relief to the appellant and emphasizing the distinction between loans/advances and current accounts. Case-Laws Income Tax Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358396