https://www.taxtmi.com/caselaws?id=296421 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision that the share premium account cannot be treated as accumulated profits for deemed dividend under section 2(22)(e) of the Income Tax Act. Additionally, the Tribunal affirmed the CIT(A)'s ruling allowing the assessee to claim deduction under section 24(b) for interest on term loan, emphasizing the necessity for the Assessing Officer to verify facts accurately. en-us Mon, 08 Jul 2013 00:00:00 +0530 Tue, 20 Jul 2021 10:47:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296421 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision that the share premium account cannot be treated as accumulated profits for deemed dividend under section 2(22)(e) of the Income Tax Act. Additionally, the Tribunal affirmed the CIT(A)'s ruling allowing the assessee to claim deduction under section 24(b) for interest on term loan, emphasizing the necessity for the Assessing Officer to verify facts accurately. Case-Laws Income Tax Mon, 08 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296421