https://www.taxtmi.com/caselaws?id=305483 The Tribunal ruled in favor of the assessee, a private limited company, in an appeal concerning the treatment of loans/advances as 'deemed dividend' under Sec. 2(22)(e) of the Income-tax Act, 1961. The Tribunal held that as the assessee was not a beneficial shareholder of the lending company, the provisions of Sec. 2(22)(e) did not apply. Emphasizing the importance of beneficial ownership, the Tribunal set aside the order of the Commissioner of Income-tax (Appeals)-II, Chennai, and allowed the appeal of the assessee, concluding that the amounts received did not qualify as 'deemed dividend' under the law. en-us Wed, 11 Feb 2015 00:00:00 +0530 Wed, 07 Dec 2022 10:26:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305483 The Tribunal ruled in favor of the assessee, a private limited company, in an appeal concerning the treatment of loans/advances as 'deemed dividend' under Sec. 2(22)(e) of the Income-tax Act, 1961. The Tribunal held that as the assessee was not a beneficial shareholder of the lending company, the provisions of Sec. 2(22)(e) did not apply. Emphasizing the importance of beneficial ownership, the Tribunal set aside the order of the Commissioner of Income-tax (Appeals)-II, Chennai, and allowed the appeal of the assessee, concluding that the amounts received did not qualify as 'deemed dividend' under the law. Case-Laws Income Tax Wed, 11 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305483