https://www.taxtmi.com/caselaws?id=425666 The Tribunal concluded that the CIT(A) erred in upholding the addition under Section 2(22)(e) of Rs. 64,05,565 as deemed dividend. The transaction was found to be for business purposes and not a gratuitous loan, aligning with legal precedents. As a result, the addition was set aside, and the assessee's appeal was partly allowed. en-us Tue, 26 Jul 2022 00:00:00 +0530 Fri, 29 Jul 2022 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425666 The Tribunal concluded that the CIT(A) erred in upholding the addition under Section 2(22)(e) of Rs. 64,05,565 as deemed dividend. The transaction was found to be for business purposes and not a gratuitous loan, aligning with legal precedents. As a result, the addition was set aside, and the assessee's appeal was partly allowed. Case-Laws Income Tax Tue, 26 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425666