Tag: 222e
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No Deemed Dividend on Enterprise Loans Between Holding and Subsidiary Underneath Part 2(22)(e): ITAT Ruling
Part 2(22)(e) applies solely to gratuitous loans or advances to shareholders, to not reciprocal and business-related transactions The Revenue Tax Appellate Tribunal (ITAT), Mumbai Bench, delivered a ruling upholding aid granted by the CIT(A) on a number of contentious points together with deemed dividend, depreciation on time-share property, and fee expenditure. The bench dismissed the…