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2015 (8) TMI 1261 - AT - Income TaxDeemed dividend addition U/S 2(22)(e) - Held that:- Based on the judgement of CIT vs. Universal Medicare Pvt. Ltd.(2010 (3) TMI 323 - BOMBAY HIGH COURT ) is liable to be upheld, thereby resulting in deletion of an addition in the hands of the assessee company. Accordingly direct the Assessing Officer to delete the addition made in the hands of the assessee on the ground that such dividend could not be taxed in the hands of the assessee as it is not a shareholder in M/s. Tainwala Holdings Pvt. Ltd.
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