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1998 (9) TMI 126 - ITAT HYDERABAD-B
Extract:
.......omplete agreement with the reasoning given by them in that behalf. We accordingly uphold the action of the lower authorities in invoking the provisions of section 2(22)(e) and treating the unsecured loan Rs. 41,05,122 of the year under appeal as deemed dividend, and charging the same to tax. 18. In the result, assessee s appeal is hereby dismissed.