If there is no permission to carry on money lending business, Amount advanced to assessee-director is deemed dividend

IN THE ITAT AGRA BENCH Krishna Gopal Maheswari Versus Additional Commissioner of Income-tax IT APPEAL NO. 82 (AGRA) OF 2012 [ASSESSMENT YEAR 2008-09] OCTOBER 23, 2012 ORDER A.L. Gehlot, Accountant Member This is an appeal filed by the assessee against the order dated 04.10.2011 passed by the ld. CIT(A)-II, Agra for the Assessment Year 2008-09. 2. The assessee has raised the following grounds of appeal:- “1.  That the Ld. CIT(A) has erred in law and on facts in confirming the addition of Rs. 37,28,059/- made by the assessing officer u/s 2(22)(e) of the Act in relation to...