https://www.taxtmi.com/caselaws?id=386203 The Tribunal dismissed the assessee's appeal, affirming that the amount received from GAPL qualifies as deemed dividend under section 2(22)(e), the subsequent repayment does not affect its classification, the transactions were not mutual, open, and current accounts, and the deemed dividend is assessable under section 56. The Tribunal's decision was based on the clear language of the statute and binding judicial precedents, including decisions by the Supreme Court. en-us Fri, 05 Jul 2019 00:00:00 +0530 Tue, 24 Sep 2019 07:41:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386203 The Tribunal dismissed the assessee's appeal, affirming that the amount received from GAPL qualifies as deemed dividend under section 2(22)(e), the subsequent repayment does not affect its classification, the transactions were not mutual, open, and current accounts, and the deemed dividend is assessable under section 56. The Tribunal's decision was based on the clear language of the statute and binding judicial precedents, including decisions by the Supreme Court. Case-Laws Income Tax Fri, 05 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386203