https://www.taxtmi.com/caselaws?id=439239 The Tribunal allowed the appeal of the assessee by directing the deletion of the addition made by the Assessing Officer under Section 2(22)(e) of the Income Tax Act. It held that the advances received were in the nature of trade advances and did not qualify as deemed dividend, based on legal precedents. The Tribunal found the AO's decision unjustified and ruled in favor of the assessee, partially allowing the appeal. en-us Fri, 16 Jun 2023 00:00:00 +0530 Tue, 20 Jun 2023 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439239 The Tribunal allowed the appeal of the assessee by directing the deletion of the addition made by the Assessing Officer under Section 2(22)(e) of the Income Tax Act. It held that the advances received were in the nature of trade advances and did not qualify as deemed dividend, based on legal precedents. The Tribunal found the AO's decision unjustified and ruled in favor of the assessee, partially allowing the appeal. Case-Laws Income Tax Fri, 16 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439239