https://www.taxtmi.com/caselaws?id=365779 The ITAT upheld the deletion of disallowance under Section 10AA of the Income Tax Act, 1961, as the assessee met all conditions for exemption. However, the addition under Section 2(22)(e) was reinstated, as loans received from companies with common beneficial shareholders were deemed dividends. The decision highlighted the necessity of meeting exemption criteria and the application of deemed dividend rules to beneficial shareholders. The judgment was delivered on 21st August 2018. en-us Tue, 21 Aug 2018 00:00:00 +0530 Thu, 23 Aug 2018 09:36:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365779 The ITAT upheld the deletion of disallowance under Section 10AA of the Income Tax Act, 1961, as the assessee met all conditions for exemption. However, the addition under Section 2(22)(e) was reinstated, as loans received from companies with common beneficial shareholders were deemed dividends. The decision highlighted the necessity of meeting exemption criteria and the application of deemed dividend rules to beneficial shareholders. The judgment was delivered on 21st August 2018. Case-Laws Income Tax Tue, 21 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365779