Court Confirms Additions as Advances Deemed Dividends u/s 2(22)(e) of Income Tax Act; Lacks Evidence for Business Advances.

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....Deemed dividend under section 2(22)(e) - assessee claimed that advances were received as business advances, however, the assessee failed to produce any documentary evidence in support of this submission - the basic conditions of section 2(22)(e) of the Act are satisfied in the present case. - Additions confirmed - AT....