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2020 (3) TMI 1301 - AT - Income TaxDeemed dividend u/s 2(22)(e) - CIT-A deleted the addition - HELD THAT:- AR Fairly agree that the issue in appeal is now covered by Hon’ble jurisdictional High Court’s judgment in the case of CIT Vs Mahavir Inductomelt Pvt Ltd [2017 (8) TMI 123 - GUJARAT HIGH COURT] In a case in which an amount is received from a person other than the shareholder, as is the admitted position in this case, the provisions of Section 2(22)(e) cannot indeed be invoked. The CIT(A) was thus justified in granting the impugned relief in respect of the addition under section 2(22)(e). We, therefore, approve the conclusion arrived at by the learned CIT(A) in this regard, and decline to interfere in the matter on that count. - Decided against revenue.
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