https://www.taxtmi.com/caselaws?id=303806 The Tribunal dismissed the revenue's appeals, upholding the CIT(A)'s decisions on both the deletion of additions by treating the purchase of 'Rolls' as revenue expenditure and the deletion of additions on account of deemed dividend under section 2(22)(e) for Assessment Years 2005-06 and 2006-07. The Tribunal found that the expenditure on replacement of rolls was revenue expenditure, not capital, and that the lending company was substantially interested, thus loans were not deemed dividends. en-us Thu, 30 Sep 2010 00:00:00 +0530 Tue, 16 Aug 2022 12:55:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303806 The Tribunal dismissed the revenue's appeals, upholding the CIT(A)'s decisions on both the deletion of additions by treating the purchase of 'Rolls' as revenue expenditure and the deletion of additions on account of deemed dividend under section 2(22)(e) for Assessment Years 2005-06 and 2006-07. The Tribunal found that the expenditure on replacement of rolls was revenue expenditure, not capital, and that the lending company was substantially interested, thus loans were not deemed dividends. Case-Laws Income Tax Thu, 30 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303806