https://www.taxtmi.com/caselaws?id=396237 The Tribunal held that the transactions between the assessee company and its subsidiary were current account transactions, not loans or advances. Therefore, Section 2(22)(e) of the Income Tax Act, 1961, was deemed inapplicable. The addition of Rs. 2,88,92,817/- as deemed dividend was overturned, and the assessee's appeal was successful. The decision stressed the significance of transaction nature comprehension and consistent tax treatment across assessment years, aligning with the principle of maintaining uniformity unless factual alterations warrant otherwise. en-us Wed, 24 Jun 2020 00:00:00 +0530 Tue, 22 Sep 2020 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396237 The Tribunal held that the transactions between the assessee company and its subsidiary were current account transactions, not loans or advances. Therefore, Section 2(22)(e) of the Income Tax Act, 1961, was deemed inapplicable. The addition of Rs. 2,88,92,817/- as deemed dividend was overturned, and the assessee's appeal was successful. The decision stressed the significance of transaction nature comprehension and consistent tax treatment across assessment years, aligning with the principle of maintaining uniformity unless factual alterations warrant otherwise. Case-Laws Income Tax Wed, 24 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396237