https://www.taxtmi.com/caselaws?id=405938 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on all three issues. The deletion of deemed dividend u/s 2(22)(e) was upheld as the loan was given in the ordinary course of business. The addition u/s 56(2)(viia) for purchasing shares below market value was deleted due to public interest in the holding company. The deletion of addition u/s 14A for expenditure incurred for earning tax-exempt income was upheld as no tax-exempt income was earned during the year. en-us Fri, 26 Mar 2021 00:00:00 +0530 Fri, 02 Apr 2021 09:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405938 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on all three issues. The deletion of deemed dividend u/s 2(22)(e) was upheld as the loan was given in the ordinary course of business. The addition u/s 56(2)(viia) for purchasing shares below market value was deleted due to public interest in the holding company. The deletion of addition u/s 14A for expenditure incurred for earning tax-exempt income was upheld as no tax-exempt income was earned during the year. Case-Laws Income Tax Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405938