https://www.taxtmi.com/caselaws?id=402353 The ITAT ruled in favor of the assessee by deleting the addition on account of deemed dividend u/s. 2(22)(e) of the Act, emphasizing the requirement that the assessee company must be a shareholder in the lending company for the provision to apply. Additionally, the ITAT reduced the disallowance out of office expenses to 25% of the total amount, considering the lack of significant activities by the associate concern at the shared premises. en-us Wed, 16 Dec 2020 00:00:00 +0530 Mon, 04 Jan 2021 18:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402353 The ITAT ruled in favor of the assessee by deleting the addition on account of deemed dividend u/s. 2(22)(e) of the Act, emphasizing the requirement that the assessee company must be a shareholder in the lending company for the provision to apply. Additionally, the ITAT reduced the disallowance out of office expenses to 25% of the total amount, considering the lack of significant activities by the associate concern at the shared premises. Case-Laws Income Tax Wed, 16 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402353