https://www.taxtmi.com/caselaws?id=407774 The Tribunal partly allowed the Revenue's appeal, confirming the addition under Section 2(22)(e) of the Income Tax Act at Rs. 2,19,74,818. The Tribunal held that the deemed dividend provisions applied to the assessee company due to the substantial interest of a common shareholder in the lender companies. The decision overturned the Ld. CIT(A)'s deletion of the addition and emphasized that deemed dividends should be taxed in the hands of the shareholder. en-us Fri, 30 Apr 2021 00:00:00 +0530 Fri, 21 May 2021 08:29:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407774 The Tribunal partly allowed the Revenue's appeal, confirming the addition under Section 2(22)(e) of the Income Tax Act at Rs. 2,19,74,818. The Tribunal held that the deemed dividend provisions applied to the assessee company due to the substantial interest of a common shareholder in the lender companies. The decision overturned the Ld. CIT(A)'s deletion of the addition and emphasized that deemed dividends should be taxed in the hands of the shareholder. Case-Laws Income Tax Fri, 30 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407774