https://www.taxtmi.com/caselaws?id=359930 The ITAT partly allowed the appeal, ruling in favor of the appellant by directing the deletion of the addition of deemed dividend under section 2(22)(e) of the Income Tax Act. The ITAT concluded that since the appellant was not a shareholder in the company providing the advance, the provisions of section 2(22)(e) did not apply. By following the precedent set by the Delhi High Court and considering the evidence presented, the ITAT found in favor of the appellant, ensuring a fair outcome in this case. en-us Tue, 03 Apr 2018 00:00:00 +0530 Mon, 07 May 2018 08:24:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359930 The ITAT partly allowed the appeal, ruling in favor of the appellant by directing the deletion of the addition of deemed dividend under section 2(22)(e) of the Income Tax Act. The ITAT concluded that since the appellant was not a shareholder in the company providing the advance, the provisions of section 2(22)(e) did not apply. By following the precedent set by the Delhi High Court and considering the evidence presented, the ITAT found in favor of the appellant, ensuring a fair outcome in this case. Case-Laws Income Tax Tue, 03 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359930