https://www.taxtmi.com/caselaws?id=386370 The appeal in ITA No.1345/PUN/2017 was partly allowed, granting exemption under Section 54F of the Income Tax Act as the Tribunal found the investment genuine despite lack of possession. The addition on account of deemed dividend under Section 2(22)(e) was dismissed as the amount was not a loan but a repayment of an advance. The matter regarding addition based on ITS data was remitted for further verification. Additional appeals were allowed, and the overall outcome favored the assessee. en-us Tue, 24 Sep 2019 00:00:00 +0530 Mon, 27 Jan 2020 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386370 The appeal in ITA No.1345/PUN/2017 was partly allowed, granting exemption under Section 54F of the Income Tax Act as the Tribunal found the investment genuine despite lack of possession. The addition on account of deemed dividend under Section 2(22)(e) was dismissed as the amount was not a loan but a repayment of an advance. The matter regarding addition based on ITS data was remitted for further verification. Additional appeals were allowed, and the overall outcome favored the assessee. Case-Laws Income Tax Tue, 24 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386370