ITAT Rules Deferred Liability, Not Loan: Removes Additions Under Deemed Dividend Provision of Section 2(22)(e.

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....Deemed dividend u/s 2(22)(e) - The records placed before the assessing officer clearly shows the nature of transaction between the firm and the company and it is neither a loan nor an advance, but a deferred liability. These facts have been noted by the assessing officer. - ITAT rightly deleted the additions - HC....