https://www.taxtmi.com/caselaws?id=310119 The Tribunal dismissed the Revenue's appeal, affirming that the addition made by the Assessing Officer under Section 2(22)(e) of the Income Tax Act, 1961 was not justified. The Tribunal held that the deemed dividend provisions apply to shareholders of the lender company, and since the assessee company was not a registered shareholder of the lender company, it could not be taxed under Section 2(22)(e). The Tribunal's decision was in line with judicial precedents and clarified that the provisions aim to tax dividends in the hands of shareholders, not companies that are not shareholders. en-us Mon, 28 Feb 2022 00:00:00 +0530 Sat, 07 Oct 2023 08:32:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310119 The Tribunal dismissed the Revenue's appeal, affirming that the addition made by the Assessing Officer under Section 2(22)(e) of the Income Tax Act, 1961 was not justified. The Tribunal held that the deemed dividend provisions apply to shareholders of the lender company, and since the assessee company was not a registered shareholder of the lender company, it could not be taxed under Section 2(22)(e). The Tribunal's decision was in line with judicial precedents and clarified that the provisions aim to tax dividends in the hands of shareholders, not companies that are not shareholders. Case-Laws Income Tax Mon, 28 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310119