Amounts Advanced for Business Transactions between shareholding entities not Deemed Dividend u/s 2(22)(e) of IT Act: ITAT deletes Addition [Read Order]

ITAT - ITAT Delhi - Income Tax - Business Transactions - Shareholding Entities - Income Tax Appellate Tribunal - taxscan

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) amount advanced for business transactions between shareholding entities are not deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961. Therefore the bench deleted additions made by the assessing officer. The Assessee, Adiish Jain is an individual and apart from being a…

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