https://www.taxtmi.com/caselaws?id=381617 The tribunal concluded that the Assessing Officer was not justified in making additions under section 2(22)(e) as deemed dividends. The loans and advances received were in the ordinary course of business, where lending of money was a substantial part of the companies' business. The interest payments made further supported that the loans were not gratuitous. Therefore, the tribunal directed the deletion of the additions, allowing the appeal of the assessee. en-us Fri, 12 Apr 2019 00:00:00 +0530 Fri, 14 Jun 2019 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381617 The tribunal concluded that the Assessing Officer was not justified in making additions under section 2(22)(e) as deemed dividends. The loans and advances received were in the ordinary course of business, where lending of money was a substantial part of the companies' business. The interest payments made further supported that the loans were not gratuitous. Therefore, the tribunal directed the deletion of the additions, allowing the appeal of the assessee. Case-Laws Income Tax Fri, 12 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381617