https://www.taxtmi.com/caselaws?id=283637 The Tribunal ruled in favor of the assessees in the appeals concerning the interpretation of Section 2(22)(e) of the Act. It held that adding the full loan amount to each shareholder's income would result in impermissible double taxation. The Tribunal ordered a proportionate division of the deemed dividend between the shareholders based on their shareholding, ensuring that the aggregate additions did not exceed the total loan amount. This decision addressed the double taxation concern raised by the assessees and provided a fair resolution to the issue at hand. en-us Mon, 24 Dec 2018 00:00:00 +0530 Fri, 04 Oct 2019 09:36:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283637 The Tribunal ruled in favor of the assessees in the appeals concerning the interpretation of Section 2(22)(e) of the Act. It held that adding the full loan amount to each shareholder's income would result in impermissible double taxation. The Tribunal ordered a proportionate division of the deemed dividend between the shareholders based on their shareholding, ensuring that the aggregate additions did not exceed the total loan amount. This decision addressed the double taxation concern raised by the assessees and provided a fair resolution to the issue at hand. Case-Laws Income Tax Mon, 24 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283637