https://www.taxtmi.com/caselaws?id=288741 The Tribunal allowed the assessee's appeal against the addition made under Section 2(22)(e) of the Income Tax Act for the assessment year 2009-10. The Tribunal found that the transactions were temporary advances through a current account, not loans or dividends, based on the minimal duration of debit balances, predominant credit balances, and absence of interest charges. Relying on legal precedents and the interpretation that the transactions did not aim to misuse funds to avoid tax liabilities, the Tribunal concluded that the addition was unwarranted. en-us Fri, 14 Nov 2014 00:00:00 +0530 Fri, 26 Jun 2020 09:13:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288741 The Tribunal allowed the assessee's appeal against the addition made under Section 2(22)(e) of the Income Tax Act for the assessment year 2009-10. The Tribunal found that the transactions were temporary advances through a current account, not loans or dividends, based on the minimal duration of debit balances, predominant credit balances, and absence of interest charges. Relying on legal precedents and the interpretation that the transactions did not aim to misuse funds to avoid tax liabilities, the Tribunal concluded that the addition was unwarranted. Case-Laws Income Tax Fri, 14 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288741