https://www.taxtmi.com/caselaws?id=383854 The Tribunal ruled in favor of the appellant, holding that the payments made by the company for the property did not constitute deemed dividend under section 2(22)(e) of the Income-tax Act. It was established that the property belonged to the company based on the Board resolution and accounting entries, indicating the appellant held it on behalf of the company. The Tribunal applied legal principles on beneficial ownership and cited precedents to support its decision, ultimately allowing the appeal and rejecting the addition of deemed dividend by the Assessing Officer. en-us Tue, 23 Jul 2019 00:00:00 +0530 Wed, 31 Jul 2019 15:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383854 The Tribunal ruled in favor of the appellant, holding that the payments made by the company for the property did not constitute deemed dividend under section 2(22)(e) of the Income-tax Act. It was established that the property belonged to the company based on the Board resolution and accounting entries, indicating the appellant held it on behalf of the company. The Tribunal applied legal principles on beneficial ownership and cited precedents to support its decision, ultimately allowing the appeal and rejecting the addition of deemed dividend by the Assessing Officer. Case-Laws Income Tax Tue, 23 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383854