https://www.taxtmi.com/caselaws?id=414097 The Tribunal upheld the deletion of the protective addition of deemed dividend in the hands of the assessee, as the transactions were recognized as business transactions and not loans or advances under Section 2(22)(e) of the Income Tax Act. Additionally, the Tribunal directed the Assessing Officer to delete the protective addition of unexplained investment in the hands of the assessee following settlement by another shareholder under the Direct Taxes Vivad Se Vishwas Act. The cross-objection challenging the validity of search proceedings and deletion of deemed dividend was dismissed as not pressed. en-us Mon, 25 Oct 2021 00:00:00 +0530 Thu, 28 Oct 2021 08:40:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414097 The Tribunal upheld the deletion of the protective addition of deemed dividend in the hands of the assessee, as the transactions were recognized as business transactions and not loans or advances under Section 2(22)(e) of the Income Tax Act. Additionally, the Tribunal directed the Assessing Officer to delete the protective addition of unexplained investment in the hands of the assessee following settlement by another shareholder under the Direct Taxes Vivad Se Vishwas Act. The cross-objection challenging the validity of search proceedings and deletion of deemed dividend was dismissed as not pressed. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414097