Section 2(22)(e) Advance in Related Company Deals: Commercial Nature Must Be Proven to Avoid Tax Implications.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition of advance received u/s. 2(22)(e) - The commercial transaction between the related company do not necessarily attract the provisions of Section 2(22)(e) unless convincingly proved that the transactions were not commercial in nature by bringing appropriate material on record and with proper investigation. I - AT....