https://www.taxtmi.com/caselaws?id=403075 The ITAT allowed the appeal, ruling in favor of the assessee, holding that the adjusted amount should be excluded from deemed dividend treatment under Section 2(22)(e) of the Income Tax Act. The addition made by the CIT(A) was deleted based on the specific circumstances of the case, where the advance received was adjusted against dividends in the following year, falling under an exception to Section 2(22)(e). 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 The ITAT allowed the appeal, ruling in favor of the assessee, holding that the adjusted amount should be excluded from deemed dividend treatment under Section 2(22)(e) of the Income Tax Act. The addition made by the CIT(A) was deleted based on the specific circumstances of the case, where the advance received was adjusted against dividends in the following year, falling under an exception to Section 2(22)(e). Case-Laws Income Tax Thu, 19 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403075