https://www.taxtmi.com/caselaws?id=388676 The Tribunal ruled in favor of the appellant on both issues. Firstly, the income from the sale of alleged agricultural land was treated as agricultural for capital gains tax purposes, rejecting the Revenue's claim that it was converted to industrial use. Secondly, the addition of deemed dividend u/s. 2(22)(e) was overturned as the loan received by the appellant from a company did not fall under the deeming provision of dividend. The Tribunal directed the Assessing Officer to delete the addition of deemed dividend. en-us Fri, 15 Nov 2019 00:00:00 +0530 Tue, 03 Dec 2019 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388676 The Tribunal ruled in favor of the appellant on both issues. Firstly, the income from the sale of alleged agricultural land was treated as agricultural for capital gains tax purposes, rejecting the Revenue's claim that it was converted to industrial use. Secondly, the addition of deemed dividend u/s. 2(22)(e) was overturned as the loan received by the appellant from a company did not fall under the deeming provision of dividend. The Tribunal directed the Assessing Officer to delete the addition of deemed dividend. Case-Laws Income Tax Fri, 15 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388676