https://www.taxtmi.com/caselaws?id=790312 Opening balance in a company ledger cannot be treated as deemed dividend under section 2(22)(e) without verifying whether it represents a loan advanced during the relevant year. The assessee produced additional ledger material indicating an earlier opening balance, and the record before the assessing authority was incomplete. The matter was therefore sent back for fresh examination, with an opportunity to produce the ledger account and related evidence, and with liberty to the assessing authority to make further inquiry on the new material. en-us Tue, 07 Apr 2026 00:00:00 +0530 Thu, 23 Apr 2026 09:45:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790312 Opening balance in a company ledger cannot be treated as deemed dividend under section 2(22)(e) without verifying whether it represents a loan advanced during the relevant year. The assessee produced additional ledger material indicating an earlier opening balance, and the record before the assessing authority was incomplete. The matter was therefore sent back for fresh examination, with an opportunity to produce the ledger account and related evidence, and with liberty to the assessing authority to make further inquiry on the new material. Case-Laws Income Tax Tue, 07 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790312