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2021 (10) TMI 35 - HC - Income TaxDeemed dividend addition u/s 2(22)(e) - ITAT deleted the addition - HELD THAT:- In the present case, both the CIT(A) as well as Tribunal have given findings of the fact that the advance received from the company by the assessee was in the nature of trade advanced booking of commercial place being built by the assessee. Both the CIT(A) as well as the Tribunal have further held that in the present case, it was the company which owed money to the assessee rather than the other way round. This his Court is of the view that the said findings should not be lightly interfered with. In fact, the Supreme Court in Hero Vinoth (Minor) vs. Seshammal [2006 (5) TMI 478 - SUPREME COURT] has also held that “in a case where from a given set of circumstances two inferences of fact are possible, the one drawn by the lower appellate court will not be interfered by the High Court in second appeal. Adopting any other approach is not permissible.” It has also held that there is a difference between question of law and a “substantial question of law”. Revenue appeal dismissed.
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