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2021 (7) TMI 339 - HC - Income TaxDeemed dividend u/s 2(22)(e) - Tribunal by placing reliance on PRADIP KUMAR MALHOTRA [2011 (8) TMI 16 - CALCUTTA HIGH COURT] has held that the advance of loan granted by the Company to the assessee cannot be treated as deemed dividend Section 2(22)(e) - HELD THAT:- The aforesaid finding is based on meticulous appreciation of evidence on record. The assessee had produced the documents before the Commissioner of Income Tax (Appeals) and the Commissioner of Income Tax (Appeals) had asked for the remand report from the Assessing Officer. The Commissioner of Income Tax (Appeals), after consideration of the remand report, recorded a finding in this regard, which has been affirmed by the Tribunal. Thus, it cannot be said that the assessee had not adduced any material either before the Commissioner of Income Tax (Appeals) or before the Tribunal. - Decided in favour of the assessee
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