https://www.taxtmi.com/caselaws?id=384350 The Tribunal ruled in favor of the assessee, finding that the provisions of section 2(22)(e) of the IT Act were not applicable to the case, directing the deletion of the addition of deemed dividend. Additionally, the Tribunal held that for assets in a block, individual asset use was not necessary, and directed the Assessing Officer to delete the disallowance of depreciation on the vehicle and telephone instruments. As a result, the appeal by the assessee was allowed, overturning the CIT(A)'s decisions on both issues. en-us Mon, 08 Jul 2019 00:00:00 +0530 Mon, 12 Aug 2019 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384350 The Tribunal ruled in favor of the assessee, finding that the provisions of section 2(22)(e) of the IT Act were not applicable to the case, directing the deletion of the addition of deemed dividend. Additionally, the Tribunal held that for assets in a block, individual asset use was not necessary, and directed the Assessing Officer to delete the disallowance of depreciation on the vehicle and telephone instruments. As a result, the appeal by the assessee was allowed, overturning the CIT(A)'s decisions on both issues. Case-Laws Income Tax Mon, 08 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384350