https://www.taxtmi.com/caselaws?id=290707 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision that the loan received by the assessee from M/s. OAT System Software India Private Limited did not qualify as deemed dividend under section 2(22)(e) of the Income Tax Act. Additionally, the Tribunal upheld the allowance of interest paid on the loan as a business expenditure. The judgment was delivered on November 30, 2018, in Chennai. en-us Fri, 30 Nov 2018 00:00:00 +0530 Mon, 12 Oct 2020 10:58:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290707 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision that the loan received by the assessee from M/s. OAT System Software India Private Limited did not qualify as deemed dividend under section 2(22)(e) of the Income Tax Act. Additionally, the Tribunal upheld the allowance of interest paid on the loan as a business expenditure. The judgment was delivered on November 30, 2018, in Chennai. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290707