Case Law Details
Case Name : TCI Exim Pvt. Ltd. Vs ACIT (ITAT Delhi)
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Delhi
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TCI Exim Pvt. Ltd. Vs ACIT (ITAT Delhi)
The Delhi bench of the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that loan on interest received from the sister concern to fulfill the enhanced requirement of working capital for export orders does not attract the provisions of deemed dividend under section 2(22)(e) of the Income Tax Act, 1961.
The assessee received the loan on interest from M/s TCI India Ltd. of Rs.52,00,000/- during the F.Y. 2012-13 to fulfill the enhanced requirement of working capital for ex
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