https://www.taxtmi.com/caselaws?id=286813 The Tribunal dismissed the Revenue's appeals in the cases of G. Saibabu and G. Sailaja, affirming that the advances were not loans and did not fall under section 2(22)(e) of the Income Tax Act. Consequently, the Cross Objections filed by the assessees were deemed infructuous and dismissed. en-us Wed, 31 Jul 2013 00:00:00 +0530 Mon, 16 Mar 2020 15:23:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286813 The Tribunal dismissed the Revenue's appeals in the cases of G. Saibabu and G. Sailaja, affirming that the advances were not loans and did not fall under section 2(22)(e) of the Income Tax Act. Consequently, the Cross Objections filed by the assessees were deemed infructuous and dismissed. Case-Laws Income Tax Wed, 31 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286813