Money advanced to shareholder for specific purpose cannot be treated as deemed dividend under section 2(22)(e)

ACIT Vs. Harshad V. Doshi-ITAT Chennai

Order

This is a departmental appeal. Grievance is that Commissioner (Appeal) deleted additions made by the assessing officer under section 2(22)(e) of the Income Tax Act, 1961 (for short `the Act’) on account of advances paid by one M/s Doshi Housing Ltd. Rs. 3,19,82,112 and rental advance of Rs.19,89,000 paid by the same company to the assessee. According to the revenue Commissioner (Appeal) did not consider the

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