Funds from Sister Concerns Not Deemed Dividend; Used for Business, Repaid with 12.5% Interest per Section 2(22)(e).

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....Deemed dividend u/s 2(22)(e) - money received from the lending companies - Money advanced by two sister concerns to the assessee company which was repaid during the year along with interest @ 12.5% per annum and used for the purpose of business of the assessee is not a loan/deposit to be treated as deemed dividend. - AT....