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2022 (2) TMI 320 - AT - Income TaxDeemed dividend u/s 2(22)(e) - loan transaction and transaction for purchasing the shares - HELD THAT:- From investment chart, ledger account of M/s Teleecare Network India Pvt. Ltd., confirmation of account and copy of allotment return submitted during the assessment, it is evident that the appellant has not received any amount / loan from Teleecare Network India Pvt. Ltd and as such there does not arise any question of any addition on account of deemed dividend u/s 2(22)(e) of the IT Act, 1961. Addition made by the A.O is therefore deleted - Decided against revenue.
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