https://www.taxtmi.com/caselaws?id=275915 The Tribunal allowed the appeal, setting aside both additions made by the assessing officer. The addition of rental income from properties was reversed as the Tribunal ruled that fair rent must be determined, not based on notional interest on security deposits. Additionally, the deemed dividend under section 2(22)(e) was overturned as the assessing officer failed to establish the beneficial ownership of shares and the amount received was considered a business transaction akin to advance rent, not subject to deemed dividend taxation. en-us Wed, 29 Jun 2016 00:00:00 +0530 Mon, 22 Oct 2018 19:06:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275915 The Tribunal allowed the appeal, setting aside both additions made by the assessing officer. The addition of rental income from properties was reversed as the Tribunal ruled that fair rent must be determined, not based on notional interest on security deposits. Additionally, the deemed dividend under section 2(22)(e) was overturned as the assessing officer failed to establish the beneficial ownership of shares and the amount received was considered a business transaction akin to advance rent, not subject to deemed dividend taxation. Case-Laws Income Tax Wed, 29 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275915