TMI BlogDeemed dividend income u/s. 2(22)(e) on ‘loans and advances’ - Though the assessee company has taken a...Deemed dividend income u/s. 2(22)(e) on ‘loans and advances’ - Though the assessee company has taken a plea that alleged loan has been taken for commercial expediency during the year and are in the nature of business transaction and interest paid thereon. However, the exception which the assessee has been referring provided under section 2(22)(e) applies in the case where lending of money is a substantial part of the business of the company. - since no enquiry has been conducted by the ld.AO on ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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