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2010 (2) TMI 824 - AT - Income TaxDeemed Dividend - dividend assessed in a firm consisting of two partners who were having the share - Held that:- in view of Bhaumik Colour(P) Ltd. (2008 -TMI - 59371 - ITAT BOMBAY), addition could not be made in the hands of the assessee who is a firm and it is neither registered shareholder nor beneficial shareholder of the lender company. - appeal filed by the department and Cross Objection filed by the assessee both are dismissed.
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