https://www.taxtmi.com/caselaws?id=379703 The Tribunal allowed the assessee's appeals, setting aside the Principal CIT's orders under Section 263 and reinstating the Assessing Officer's orders under Section 153A/143(3). It was held that the loans from the NBFC were not deemed dividends under Section 2(22)(e) as they were part of the ordinary business of the lender. The Tribunal found that the Assessing Officer had conducted sufficient enquiries and applied the legal position correctly, rendering the Principal CIT's revision under Section 263 unjustified. en-us Fri, 03 May 2019 00:00:00 +0530 Mon, 06 May 2019 19:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379703 The Tribunal allowed the assessee's appeals, setting aside the Principal CIT's orders under Section 263 and reinstating the Assessing Officer's orders under Section 153A/143(3). It was held that the loans from the NBFC were not deemed dividends under Section 2(22)(e) as they were part of the ordinary business of the lender. The Tribunal found that the Assessing Officer had conducted sufficient enquiries and applied the legal position correctly, rendering the Principal CIT's revision under Section 263 unjustified. Case-Laws Income Tax Fri, 03 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379703