Section 2(22)(e) not applicable to receipt towards repayment of loan 

ACIT Vs V. V. N. Varadhan Kumar (ITAT Chennai) Ld.CIT(A) had made a clear cut finding after examining the books of accounts of the assessee that the amount received by the assessee was only repayment of loan extended by the assessee to the company. It appears that the assessee in his books of account instead of setting-off the repayment of loan against the loan account has accounted the same under a different head of account, which is only a technical error. Since these facts has been verified by the Ld.CIT(A), based on which he has granted relief to the assessee by deleting the addition made ...