https://www.taxtmi.com/caselaws?id=382747 The Court condoned the delay in re-filing the appeal and allowed the application. The main issue was the appeal by the Revenue against an ITAT order quashing the PCIT's order under Section 263 of the Income Tax Act, focusing on the applicability of Section 2(22)(e) regarding deemed dividend. The ITAT found that the amount received was converted to shares as per the balance sheet, rejecting the Revenue's argument for a fresh assessment. As no substantial question of law arose, the Court dismissed the appeal. en-us Fri, 05 Jul 2019 00:00:00 +0530 Wed, 10 Jul 2019 06:49:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382747 The Court condoned the delay in re-filing the appeal and allowed the application. The main issue was the appeal by the Revenue against an ITAT order quashing the PCIT's order under Section 263 of the Income Tax Act, focusing on the applicability of Section 2(22)(e) regarding deemed dividend. The ITAT found that the amount received was converted to shares as per the balance sheet, rejecting the Revenue's argument for a fresh assessment. As no substantial question of law arose, the Court dismissed the appeal. Case-Laws Income Tax Fri, 05 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382747