https://www.taxtmi.com/caselaws?id=770404 ITAT Hyderabad dismissed Revenue's appeal regarding deemed dividend under Section 2(22)(e). The AO incorrectly treated excess payments as loans/advances, but CIT(A) found no excess payments were made during FY 2020-21. The closing debit balance represented outstanding receivables against sales, not advances. Revenue failed to provide evidence contradicting CIT(A)'s findings. ITAT upheld CIT(A)'s deletion of the addition, following precedent from a similar case, and directed deletion of the deemed dividend addition. en-us Tue, 04 Feb 2025 00:00:00 +0530 Sat, 10 May 2025 08:36:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770404 ITAT Hyderabad dismissed Revenue's appeal regarding deemed dividend under Section 2(22)(e). The AO incorrectly treated excess payments as loans/advances, but CIT(A) found no excess payments were made during FY 2020-21. The closing debit balance represented outstanding receivables against sales, not advances. Revenue failed to provide evidence contradicting CIT(A)'s findings. ITAT upheld CIT(A)'s deletion of the addition, following precedent from a similar case, and directed deletion of the deemed dividend addition. Case-Laws Income Tax Tue, 04 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770404