https://www.taxtmi.com/caselaws?id=301164 The Tribunal allowed the appeal, directing the Assessing Officer to delete the additions of share application money u/s. 68 and deemed dividend u/s. 2(22)(e) made in the original assessment. The Tribunal emphasized that cash credits received in a different year should not be subject to additions under section 68. Additionally, it clarified that the provision of deemed dividend under section 2(22)(e) applies to shareholders, not the company, in cases where advances are made to shareholders. en-us Thu, 25 Oct 2018 00:00:00 +0530 Wed, 16 Mar 2022 10:16:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301164 The Tribunal allowed the appeal, directing the Assessing Officer to delete the additions of share application money u/s. 68 and deemed dividend u/s. 2(22)(e) made in the original assessment. The Tribunal emphasized that cash credits received in a different year should not be subject to additions under section 68. Additionally, it clarified that the provision of deemed dividend under section 2(22)(e) applies to shareholders, not the company, in cases where advances are made to shareholders. Case-Laws Income Tax Thu, 25 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301164