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2018 (1) TMI 541 - AT - Income TaxDeemed dividend u/s 2(22)(e) - Held that:- Assessing Officer had not examined the question whether assessee had given the same collateral security for loans raised by the assessee from SIDBI and State Bank of Hyderabad and how far the claim was correct. Much more facts have to be brought on record before the question whether the loans taken by the assessee could be deemed as dividend can be properly addressed. Considering these circumstances, it is of the opinion that issue requires a fresh look by the ld. Assessing Officer. Thus set aside the orders of the lower authorities and remit the issue regarding addition u/s.2(22) (e) of the Act back to the file of the ld. Assessing Officer for consideration afresh in accordance with law. In the result, appeal of the assessee is allowed for statistical purpose.
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