https://www.taxtmi.com/caselaws?id=377222 The ITAT dismissed the revenue's appeal, concurring with the CIT(A) that the transactions between the assessee and M/s Arbes Tools Pvt Ltd were normal business dealings and not loans or advances. Therefore, the provisions of Section 2(22)(e) of the Income Tax Act did not apply, leading to the deletion of the addition made by the AO. en-us Tue, 18 Dec 2018 00:00:00 +0530 Tue, 26 Mar 2019 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377222 The ITAT dismissed the revenue's appeal, concurring with the CIT(A) that the transactions between the assessee and M/s Arbes Tools Pvt Ltd were normal business dealings and not loans or advances. Therefore, the provisions of Section 2(22)(e) of the Income Tax Act did not apply, leading to the deletion of the addition made by the AO. Case-Laws Income Tax Tue, 18 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377222