https://www.taxtmi.com/caselaws?id=394648 The Tribunal upheld the deletion of an addition made under section 2(22)(e) of the Income Tax Act, 1961, finding that advances received by the assessee were for commercial purposes and not deemed dividends. Despite discrepancies, the matter was remitted for further verification. The revenue's appeal was allowed for statistical purposes, along with the assessee's cross objections. The Tribunal's decision was based on the commercial nature of the transactions and the applicability of a circular by the CBDT, citing relevant case laws to support its ruling. en-us Fri, 07 Feb 2020 00:00:00 +0530 Mon, 20 Apr 2020 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394648 The Tribunal upheld the deletion of an addition made under section 2(22)(e) of the Income Tax Act, 1961, finding that advances received by the assessee were for commercial purposes and not deemed dividends. Despite discrepancies, the matter was remitted for further verification. The revenue's appeal was allowed for statistical purposes, along with the assessee's cross objections. The Tribunal's decision was based on the commercial nature of the transactions and the applicability of a circular by the CBDT, citing relevant case laws to support its ruling. Case-Laws Income Tax Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394648