https://www.taxtmi.com/caselaws?id=390369 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 3,45,59,000 made on account of deemed dividend under Section 2(22)(e). It was emphasized that the appellant was not a registered or beneficial shareholder of the lender company, and the Inter Corporate Deposit (ICD) did not qualify as a loan or advance under the section. The Revenue's appeal was dismissed, and the appellant's cross objection was also dismissed as not pressed. en-us Fri, 06 Dec 2019 00:00:00 +0530 Tue, 31 Dec 2019 14:40:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390369 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 3,45,59,000 made on account of deemed dividend under Section 2(22)(e). It was emphasized that the appellant was not a registered or beneficial shareholder of the lender company, and the Inter Corporate Deposit (ICD) did not qualify as a loan or advance under the section. The Revenue's appeal was dismissed, and the appellant's cross objection was also dismissed as not pressed. Case-Laws Income Tax Fri, 06 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390369