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Case Law Details

Case Name : ACIT Vs Seema Devi Bansal (ITAT Delhi)
Appeal Number : ITA No. 6462/DEL/2014
Date of Judgement/Order : 18/07/2014
Related Assessment Year : 2010-11
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ACIT Vs Seema Devi Bansal (ITAT Delhi)

Trade and commercial transactions are not covered in the definition of ‘loans and advances’ on which section 2(22)(e)  can be applied. When the company got back its funds on the same day, it could not fall into the definition of the deemed dividend.

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