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2013 (9) TMI 1051 - AT - Income TaxDeemed dividend addition u/s 2(22) - Held that:- Admittedly the assessee company was not holding any shares in the lender company at all. Therefore, in our opinionthe loan received by the assessee-company from M/s Pugazh Chemical Plant & Equipments (P) Ltd. could not be considered as deemed dividend in the hands of the assesseecompany deposit it being not a trading advance. - Decided in favour of assessee
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