https://www.taxtmi.com/caselaws?id=368320 The Tribunal ruled in favor of the assessee, determining that the advances received from M/s. ISML were commercial transactions and not deemed dividends under Section 2(22)(e) of the Income Tax Act, 1961. Additionally, the Tribunal held that the sum of D2,69,89,513/- paid by M/s. ISML on behalf of the assessee towards statutory duties, TDS, and wages did not constitute deemed dividends as they were part of the business arrangement and did not confer any additional benefit to the assessee. The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal, deleting the addition made by the AO. en-us Wed, 03 Oct 2018 00:00:00 +0530 Fri, 05 Oct 2018 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368320 The Tribunal ruled in favor of the assessee, determining that the advances received from M/s. ISML were commercial transactions and not deemed dividends under Section 2(22)(e) of the Income Tax Act, 1961. Additionally, the Tribunal held that the sum of D2,69,89,513/- paid by M/s. ISML on behalf of the assessee towards statutory duties, TDS, and wages did not constitute deemed dividends as they were part of the business arrangement and did not confer any additional benefit to the assessee. The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal, deleting the addition made by the AO. Case-Laws Income Tax Wed, 03 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368320