https://www.taxtmi.com/caselaws?id=381266 The tribunal allowed the appeal, ruling in favor of the assessee and deleting the addition made by the Assessing Officer under section 2(22)(e) of the IT Act, 1961. The tribunal held that the legal fiction of deemed dividend does not extend to non-shareholders, setting aside the CIT(A)'s decision. The delay in filing the appeal was condoned due to the managing director's ill health, allowing the appeal for hearing and adjudication. en-us Fri, 10 May 2019 00:00:00 +0530 Thu, 06 Jun 2019 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381266 The tribunal allowed the appeal, ruling in favor of the assessee and deleting the addition made by the Assessing Officer under section 2(22)(e) of the IT Act, 1961. The tribunal held that the legal fiction of deemed dividend does not extend to non-shareholders, setting aside the CIT(A)'s decision. The delay in filing the appeal was condoned due to the managing director's ill health, allowing the appeal for hearing and adjudication. Case-Laws Income Tax Fri, 10 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381266