https://www.taxtmi.com/caselaws?id=772690 ITAT Bangalore ruled in favor of the assessee regarding cash seized from residence and auditor's office. The tribunal held that cash belonged to the company and was not deemed dividend under section 2(22)(e). Key findings: no loan/advance entries in company books, assessee acted as custodian per board resolution, property purchase made through banking channels from personal accounts, and no personal use of company funds established. The conditions for invoking section 2(22)(e) were not satisfied. Appeal allowed. en-us Mon, 02 Jun 2025 00:00:00 +0530 Thu, 12 Jun 2025 07:21:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772690 ITAT Bangalore ruled in favor of the assessee regarding cash seized from residence and auditor's office. The tribunal held that cash belonged to the company and was not deemed dividend under section 2(22)(e). Key findings: no loan/advance entries in company books, assessee acted as custodian per board resolution, property purchase made through banking channels from personal accounts, and no personal use of company funds established. The conditions for invoking section 2(22)(e) were not satisfied. Appeal allowed. Case-Laws Income Tax Mon, 02 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772690