EIL Transaction with Group Companies Not Deemed Dividends u/s 2(22)(e) Due to CBDT Circular 19/2017 Clarification.

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....Deemed dividend u/s 2(22)(e) - transaction between EIL and group companies - the CBDT has also taken a view vide CBDT Circular No. 19/2017 dated 12.06.2017 stating that where loans and advances are in the nature of commercial transactions, would not fall within the ambit of word ‘ advance’ in section 2(22) (e). - AT....