https://www.taxtmi.com/caselaws?id=406084 The Tribunal dismissed the Revenue's appeal regarding the addition under Section 2(22)(e) of the Income Tax Act, emphasizing the distinction between business transactions and deemed dividends. The issue of the legality of the assessment under Sections 153A and 153C was remitted back to the CIT (Appeals) for further examination, highlighting the importance of proper jurisdictional compliance in assessments. The Tribunal's decision clarified the application of Section 2(22)(e) and the need for accurate assessment procedures under the Income Tax Act. en-us Tue, 16 Mar 2021 00:00:00 +0530 Tue, 06 Apr 2021 08:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406084 The Tribunal dismissed the Revenue's appeal regarding the addition under Section 2(22)(e) of the Income Tax Act, emphasizing the distinction between business transactions and deemed dividends. The issue of the legality of the assessment under Sections 153A and 153C was remitted back to the CIT (Appeals) for further examination, highlighting the importance of proper jurisdictional compliance in assessments. The Tribunal's decision clarified the application of Section 2(22)(e) and the need for accurate assessment procedures under the Income Tax Act. Case-Laws Income Tax Tue, 16 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406084