https://www.taxtmi.com/caselaws?id=277688 The Tribunal dismissed the Department's Miscellaneous Application seeking rectification of an order in I.T.A. No. 1825/Mds/2008, as it found that the ground raised in the appeal had been duly considered. The Tribunal upheld the view that the loan amount treated as 'deemed dividend' u/s 2(22)(e) in the hands of the assessee was not valid, as the closing credit balance in the 'current account' with its subsidiary did not constitute a 'payment.' The Department's application was dismissed for lacking merit. en-us Fri, 30 Jul 2010 00:00:00 +0530 Tue, 18 Dec 2018 09:59:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277688 The Tribunal dismissed the Department's Miscellaneous Application seeking rectification of an order in I.T.A. No. 1825/Mds/2008, as it found that the ground raised in the appeal had been duly considered. The Tribunal upheld the view that the loan amount treated as 'deemed dividend' u/s 2(22)(e) in the hands of the assessee was not valid, as the closing credit balance in the 'current account' with its subsidiary did not constitute a 'payment.' The Department's application was dismissed for lacking merit. Case-Laws Income Tax Fri, 30 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277688