https://www.taxtmi.com/caselaws?id=403075 Fresh advances to a shareholder were examined under deemed dividend rules in section 2(22)(e), but the amount remained excluded where it was later adjusted against dividend and therefore fell within the set-off exclusion in section 2(22)(iii). The assessee did not dispute the shareholding threshold or the basic applicability of section 2(22)(e); the controversy was confined to the fresh advance during the year. As the amount of Rs. 3,07,230 was treated as covered by the statutory exclusion, it was not includible as deemed dividend and the addition was deleted. en-us Thu, 19 Nov 2020 00:00:00 +0530 Tue, 19 Jan 2021 10:12:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403075 Fresh advances to a shareholder were examined under deemed dividend rules in section 2(22)(e), but the amount remained excluded where it was later adjusted against dividend and therefore fell within the set-off exclusion in section 2(22)(iii). The assessee did not dispute the shareholding threshold or the basic applicability of section 2(22)(e); the controversy was confined to the fresh advance during the year. As the amount of Rs. 3,07,230 was treated as covered by the statutory exclusion, it was not includible as deemed dividend and the addition was deleted. Case-Laws Income Tax Thu, 19 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403075