https://www.taxtmi.com/caselaws?id=396997 The Madras High Court dismissed the appeal regarding the interpretation of Section 2(22)(e) of the Income Tax Act, 1961. The Court held that the amount received by the respondent company from its subsidiary, treated as a loan, was not deemed dividend. Emphasizing the previous decision and factual assessment, the Court found no substantial question of law, affirming the lower authorities' relief to the assessee. Criticizing the Department for multiple proceedings on the same transaction, the Court highlighted the need for a more efficient approach to prevent unnecessary litigation. The appeal was dismissed without costs. en-us Thu, 23 Jul 2020 00:00:00 +0530 Fri, 13 Aug 2021 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396997 The Madras High Court dismissed the appeal regarding the interpretation of Section 2(22)(e) of the Income Tax Act, 1961. The Court held that the amount received by the respondent company from its subsidiary, treated as a loan, was not deemed dividend. Emphasizing the previous decision and factual assessment, the Court found no substantial question of law, affirming the lower authorities' relief to the assessee. Criticizing the Department for multiple proceedings on the same transaction, the Court highlighted the need for a more efficient approach to prevent unnecessary litigation. The appeal was dismissed without costs. Case-Laws Income Tax Thu, 23 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396997