https://www.taxtmi.com/caselaws?id=309045 The appeals and cross-objections for Assessment Years 2008-09 and 2009-10 were dismissed by the Tribunal. The deletion of additions under Section 2(22)(e) of the Income Tax Act was upheld based on the commercial nature of the transactions and the tax effect falling below the prescribed limit as per Circular No.03/2018 issued by the CBDT. The Tribunal affirmed the decisions of the lower authorities, emphasizing that the assessee did not directly receive the funds in question. en-us Wed, 03 Oct 2018 00:00:00 +0530 Tue, 08 Aug 2023 21:07:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309045 The appeals and cross-objections for Assessment Years 2008-09 and 2009-10 were dismissed by the Tribunal. The deletion of additions under Section 2(22)(e) of the Income Tax Act was upheld based on the commercial nature of the transactions and the tax effect falling below the prescribed limit as per Circular No.03/2018 issued by the CBDT. The Tribunal affirmed the decisions of the lower authorities, emphasizing that the assessee did not directly receive the funds in question. Case-Laws Income Tax Wed, 03 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309045