https://www.taxtmi.com/caselaws?id=359099 The High Court upheld the Tribunal's decision regarding the treatment of proceeds from the sale of land, ruling in favor of considering it as long term capital gain. Additionally, the deletion of the addition made on account of deemed dividend under section 2(22)(e) of the Act was upheld, with the Court agreeing with the Tribunal's determination that the amount represented trade advances and not a loan, therefore not falling under the said section. The Tax Appeal was dismissed, affirming the Tribunal's decision. en-us Wed, 14 Feb 2018 00:00:00 +0530 Tue, 24 Apr 2018 09:10:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359099 The High Court upheld the Tribunal's decision regarding the treatment of proceeds from the sale of land, ruling in favor of considering it as long term capital gain. Additionally, the deletion of the addition made on account of deemed dividend under section 2(22)(e) of the Act was upheld, with the Court agreeing with the Tribunal's determination that the amount represented trade advances and not a loan, therefore not falling under the said section. The Tax Appeal was dismissed, affirming the Tribunal's decision. Case-Laws Income Tax Wed, 14 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359099