https://www.taxtmi.com/caselaws?id=397878 The Tribunal acknowledged errors in its order regarding the taxability of deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961. The Tribunal had incorrectly assessed a loan as deemed dividend despite the assessee not being a shareholder in the lending company. The petitioner successfully argued that the Tribunal failed to consider relevant legal decisions by the jurisdictional High Court and the Supreme Court. Consequently, the Tribunal recalled its order dated 12.06.2018, allowing the Misc. Petition filed by the assessee and directing the appeal to proceed in the regular course. en-us Mon, 27 Jan 2020 00:00:00 +0530 Fri, 27 Nov 2020 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397878 The Tribunal acknowledged errors in its order regarding the taxability of deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961. The Tribunal had incorrectly assessed a loan as deemed dividend despite the assessee not being a shareholder in the lending company. The petitioner successfully argued that the Tribunal failed to consider relevant legal decisions by the jurisdictional High Court and the Supreme Court. Consequently, the Tribunal recalled its order dated 12.06.2018, allowing the Misc. Petition filed by the assessee and directing the appeal to proceed in the regular course. Case-Laws Income Tax Mon, 27 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397878