https://www.taxtmi.com/caselaws?id=373424 The Tribunal allowed the appeal, determining that the addition as deemed dividend under section 2(22)(e) for the Assessment Year 2008-09 could not be upheld. This decision was based on the finding that the corporate entities involved did not have beneficial interests in each other, and the recipient company did not hold any shareholding in the lender company, distinguishing the case from precedent. The Tribunal aligned with established legal principles, ultimately ruling in favor of the assessee. en-us Wed, 02 Jan 2019 00:00:00 +0530 Sat, 12 Jan 2019 07:01:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373424 The Tribunal allowed the appeal, determining that the addition as deemed dividend under section 2(22)(e) for the Assessment Year 2008-09 could not be upheld. This decision was based on the finding that the corporate entities involved did not have beneficial interests in each other, and the recipient company did not hold any shareholding in the lender company, distinguishing the case from precedent. The Tribunal aligned with established legal principles, ultimately ruling in favor of the assessee. Case-Laws Income Tax Wed, 02 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373424