https://www.taxtmi.com/caselaws?id=282740 Advances and repayments between a company and its shareholder arising from genuine real estate dealings were treated as commercial transactions, not as loans for personal benefit. Because the parties were engaged in regular business dealings and the amounts were substantially squared up by the end of the financial year, the Tribunal held that section 2(22)(e) of the Income-tax Act, 1961 did not apply. On that basis, the amounts were outside the scope of deemed dividend treatment, and the department's challenge failed for want of any substantial question of law. en-us Thu, 29 Sep 2016 00:00:00 +0530 Wed, 21 Aug 2019 20:14:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282740 Advances and repayments between a company and its shareholder arising from genuine real estate dealings were treated as commercial transactions, not as loans for personal benefit. Because the parties were engaged in regular business dealings and the amounts were substantially squared up by the end of the financial year, the Tribunal held that section 2(22)(e) of the Income-tax Act, 1961 did not apply. On that basis, the amounts were outside the scope of deemed dividend treatment, and the department's challenge failed for want of any substantial question of law. Case-Laws Income Tax Thu, 29 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282740