https://www.taxtmi.com/caselaws?id=395915 The Tribunal partly allowed the Revenue's appeal and the assessee's cross objection for statistical purposes, remitting certain issues back to the CIT(A) for fresh examination and adjudication in accordance with the law. The additions of deemed dividends under Section 2(22)(e) were deleted in some instances due to advances being in the normal course of business or lacking accumulated profits. The Tribunal emphasized the need for a thorough examination of the nature of transactions and the presence of accumulated profits before deeming them as dividends. en-us Wed, 10 Jun 2020 00:00:00 +0530 Sat, 13 Jun 2020 11:19:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395915 The Tribunal partly allowed the Revenue's appeal and the assessee's cross objection for statistical purposes, remitting certain issues back to the CIT(A) for fresh examination and adjudication in accordance with the law. The additions of deemed dividends under Section 2(22)(e) were deleted in some instances due to advances being in the normal course of business or lacking accumulated profits. The Tribunal emphasized the need for a thorough examination of the nature of transactions and the presence of accumulated profits before deeming them as dividends. Case-Laws Income Tax Wed, 10 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395915