https://www.taxtmi.com/caselaws?id=286314 The ITAT dismissed the department's appeals and allowed the assessee's appeals regarding the applicability of Sec.2(22)(e) of the I.T. Act on payments made by M/s. Jayadarsini Housing Pvt. Ltd. The ITAT held that the payments were part of business transactions and not deemed dividends, in line with legal precedents indicating that Sec.2(22)(e) applies only to shareholders receiving loans or advances. The judgment clarified the interpretation of the provision, resulting in a favorable outcome for the assessee. en-us Wed, 28 Aug 2013 00:00:00 +0530 Thu, 20 Feb 2020 12:10:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286314 The ITAT dismissed the department's appeals and allowed the assessee's appeals regarding the applicability of Sec.2(22)(e) of the I.T. Act on payments made by M/s. Jayadarsini Housing Pvt. Ltd. The ITAT held that the payments were part of business transactions and not deemed dividends, in line with legal precedents indicating that Sec.2(22)(e) applies only to shareholders receiving loans or advances. The judgment clarified the interpretation of the provision, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Wed, 28 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286314