https://www.taxtmi.com/caselaws?id=309699 The Tribunal upheld the AO's decision to tax advances as deemed dividends under Section 2(22)(e) in the hands of relevant parties. It confirmed the validity of proceedings under Section 153C, finding incriminating material during the search and proper satisfaction note recording. Challenges to jurisdiction and satisfaction note under Section 153C were rejected. No violation of Rule 46A was found regarding additional evidence admission. The Tribunal dismissed Cross Objections due to substantial delay and lack of convincing reasons. en-us Fri, 02 Dec 2016 00:00:00 +0530 Sun, 17 Sep 2023 05:30:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309699 The Tribunal upheld the AO's decision to tax advances as deemed dividends under Section 2(22)(e) in the hands of relevant parties. It confirmed the validity of proceedings under Section 153C, finding incriminating material during the search and proper satisfaction note recording. Challenges to jurisdiction and satisfaction note under Section 153C were rejected. No violation of Rule 46A was found regarding additional evidence admission. The Tribunal dismissed Cross Objections due to substantial delay and lack of convincing reasons. Case-Laws Income Tax Fri, 02 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309699