https://www.taxtmi.com/caselaws?id=282772 The High Court upheld the Tribunal's decision to delete the addition of Rs. 1,50,00,000/- as the assessee proved sufficient cash balance and proper recording of the transaction. The deletion of Rs. 50,26,604/- was also upheld, as the transactions were deemed business advances, not dividends under Section 2(22)(e). The appeal was dismissed in favor of the assessee. en-us Tue, 31 Oct 2017 00:00:00 +0530 Thu, 22 Aug 2019 20:38:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282772 The High Court upheld the Tribunal's decision to delete the addition of Rs. 1,50,00,000/- as the assessee proved sufficient cash balance and proper recording of the transaction. The deletion of Rs. 50,26,604/- was also upheld, as the transactions were deemed business advances, not dividends under Section 2(22)(e). The appeal was dismissed in favor of the assessee. Case-Laws Income Tax Tue, 31 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282772