https://www.taxtmi.com/caselaws?id=373852 The court dismissed the appeal, affirming that the loan/advance received by the assessee from a non-shareholder company did not constitute deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961. Additionally, the court upheld the deletion of the addition of income from house property, emphasizing factual analysis and alignment with municipal valuation. The court also supported the deletion of interest addition under Section 40A(2)(b), stating that the interest rate paid was reasonable. The judgment favored the assessee based on factual assessments and legal principles, leading to the dismissal of the appeal. en-us Thu, 03 Jan 2019 00:00:00 +0530 Mon, 22 May 2023 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373852 The court dismissed the appeal, affirming that the loan/advance received by the assessee from a non-shareholder company did not constitute deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961. Additionally, the court upheld the deletion of the addition of income from house property, emphasizing factual analysis and alignment with municipal valuation. The court also supported the deletion of interest addition under Section 40A(2)(b), stating that the interest rate paid was reasonable. The judgment favored the assessee based on factual assessments and legal principles, leading to the dismissal of the appeal. Case-Laws Income Tax Thu, 03 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373852