https://www.taxtmi.com/caselaws?id=405096 The Tribunal upheld the Commissioner (Appeals)'s decision to delete the addition under section 2(22)(e) of the Income Tax Act, ruling in favor of the assessee. The Tribunal found that the loans were trade advances, not dividends, and the firm was not a shareholder of the lending company. Previous Tribunal decisions supported the assessee's position, and the Supreme Court judgment cited by the Revenue was deemed irrelevant. As a result, the Revenue's appeal was dismissed, affirming the Commissioner (Appeals)'s order. en-us Wed, 10 Mar 2021 00:00:00 +0530 Thu, 11 Mar 2021 09:16:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405096 The Tribunal upheld the Commissioner (Appeals)'s decision to delete the addition under section 2(22)(e) of the Income Tax Act, ruling in favor of the assessee. The Tribunal found that the loans were trade advances, not dividends, and the firm was not a shareholder of the lending company. Previous Tribunal decisions supported the assessee's position, and the Supreme Court judgment cited by the Revenue was deemed irrelevant. As a result, the Revenue's appeal was dismissed, affirming the Commissioner (Appeals)'s order. Case-Laws Income Tax Wed, 10 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405096