Advance in ordinary course of business cannot be considered as deemed dividend U/s. 2(22)(e) of IT Act, 1961

RELEVANT PARAGRAPH

9.       In the present case the Tribunal on considering decisions in various cases held as under:

“From the ratio laid down in above cases and on the basis of judicial interpretation of words. ‘Loans’ or ‘Advances’, it can be held that section 2(22)(e)can be applied to ‘Loans’ or ‘Advances’. Simplicitor and not to those transactions carried out in course of busine

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