https://www.taxtmi.com/caselaws?id=446040 The ITAT Chennai set aside the CIT(A)'s order regarding deemed dividend u/s 2(22)(e) and remanded the matter to the AO for fresh examination. The case involved debit balances in the appellant's current account with the company and a payment received on 31.12.2010. The tribunal found that transactions between the appellant and company were not solitary but involved multiple payments through current accounts, mostly showing credit balances. The appellant claimed debit balances resulted from inadvertent errors and were squared off quickly, and the disputed payment was actually made on behalf of the appellant's mother per her instructions. The ITAT directed the AO to verify these claims and delete deemed dividend additions if found correct. en-us Wed, 18 Oct 2023 00:00:00 +0530 Tue, 14 Apr 2026 09:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446040 The ITAT Chennai set aside the CIT(A)'s order regarding deemed dividend u/s 2(22)(e) and remanded the matter to the AO for fresh examination. The case involved debit balances in the appellant's current account with the company and a payment received on 31.12.2010. The tribunal found that transactions between the appellant and company were not solitary but involved multiple payments through current accounts, mostly showing credit balances. The appellant claimed debit balances resulted from inadvertent errors and were squared off quickly, and the disputed payment was actually made on behalf of the appellant's mother per her instructions. The ITAT directed the AO to verify these claims and delete deemed dividend additions if found correct. Case-Laws Income Tax Wed, 18 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446040