Amounts Advanced for Business Transactions Between Parties Will not fall within the Definition of “Deemed Dividend”u/s  2(22)(e) of  Income Tax Act: ITAT

AmountsA - Advanced - for - Business - Transactions - Deemed - Dividend - us - 2(22)(e) - income - tax - act - TAXSCAN

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that the amount advanced for business transactions between parties would not fall within the definition of deemed dividend under Section 2(22)(e) of the Income Tax  Act, 1961. Section 2(22)(e) of the Income Tax Act  deals with deemed dividends which were loans or advances…

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