https://www.taxtmi.com/caselaws?id=398797 The revenue's appeals challenging the deletion of additions under Sections 2(22)(e) and 56(2)(vii)(c) of the Income Tax Act were dismissed. The Tribunal upheld the CIT(A)'s decisions, ruling that the additions were not warranted as the transactions did not fall within the ambit of deemed dividend or fair market value difference as per the provisions of the Act. The Tribunal found no merit in the revenue's arguments and affirmed that the CIT(A)'s orders were consistent with the law and precedents. en-us Tue, 15 Sep 2020 00:00:00 +0530 Thu, 24 Sep 2020 11:40:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398797 The revenue's appeals challenging the deletion of additions under Sections 2(22)(e) and 56(2)(vii)(c) of the Income Tax Act were dismissed. The Tribunal upheld the CIT(A)'s decisions, ruling that the additions were not warranted as the transactions did not fall within the ambit of deemed dividend or fair market value difference as per the provisions of the Act. The Tribunal found no merit in the revenue's arguments and affirmed that the CIT(A)'s orders were consistent with the law and precedents. Case-Laws Income Tax Tue, 15 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398797