https://www.taxtmi.com/caselaws?id=416570 The Tribunal upheld the validity of the reopening u/s.147, dismissed the appellant's challenge on the addition of deemed dividend, and confirmed the taxation of deemed dividend under section 2(22)(e). The Tribunal also upheld the interest charged u/s.234A/234B/234C and emphasized the importance of demonstrating the commercial expediency of transactions to avoid taxation as deemed dividend. Consequently, the Tribunal dismissed both appeals of the assessee for the assessment years 2008-09 and 2009-10 due to the lack of evidence regarding the commercial nature of the transactions. en-us Tue, 21 Dec 2021 00:00:00 +0530 Sat, 01 Jan 2022 08:56:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416570 The Tribunal upheld the validity of the reopening u/s.147, dismissed the appellant's challenge on the addition of deemed dividend, and confirmed the taxation of deemed dividend under section 2(22)(e). The Tribunal also upheld the interest charged u/s.234A/234B/234C and emphasized the importance of demonstrating the commercial expediency of transactions to avoid taxation as deemed dividend. Consequently, the Tribunal dismissed both appeals of the assessee for the assessment years 2008-09 and 2009-10 due to the lack of evidence regarding the commercial nature of the transactions. Case-Laws Income Tax Tue, 21 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416570