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2018 (4) TMI 1210 - HC - Income TaxDeemed dividend u/s 2(22)(e) - Tribunal confirming the view of the CIT (Appeals) opined that the amount in question was in the nature of trade advances to the assessee made by the company and not a loan - Held that:- The assessee had entered into an agreement with the company for development and consideration of the land which was owned by the assessee. Various transactions of such agreement pertain to the negotiation of sale price to be received by the assessee from the payments collected by the company. Tribunal referred to the judgement of CIT vs. Rajkumar [2009 (5) TMI 17 - DELHI HIGH COURT] and held that trade advances made for the commercial transactions would not be hit by section 2(22)(e) of the Act. - Decided in favour of assessee.
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