https://www.taxtmi.com/caselaws?id=413848 The Tribunal upheld the Ld. CIT(A)'s decision to delete additions made by the AO regarding deemed dividend under section 2(22)(e) for the assessment years 2015-16 and 2016-17. The Tribunal found that the loans were business transactions with interest paid and TDS deducted, benefiting both companies. Relying on precedent, the Tribunal concluded that loans taken on interest, where the lending companies benefit, do not fall under the deemed dividend provisions. As a result, the Revenue's appeals were dismissed, and the deletions of the additions were upheld. en-us Wed, 18 Aug 2021 00:00:00 +0530 Fri, 22 Oct 2021 08:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413848 The Tribunal upheld the Ld. CIT(A)'s decision to delete additions made by the AO regarding deemed dividend under section 2(22)(e) for the assessment years 2015-16 and 2016-17. The Tribunal found that the loans were business transactions with interest paid and TDS deducted, benefiting both companies. Relying on precedent, the Tribunal concluded that loans taken on interest, where the lending companies benefit, do not fall under the deemed dividend provisions. As a result, the Revenue's appeals were dismissed, and the deletions of the additions were upheld. Case-Laws Income Tax Wed, 18 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413848