Allowing the appeal of the revenue the Court held that by analysing the transactions and evidences found that loan was not trading transaction therefore assessable as deemed dividend .
CIT v. Prasidh Leasing Ltd. (2018) 403 ITR 129 / 301 CTR 526 /163 DTR 475 /254 Taxman 142 (Delhi) (HC)
S.2(22)(e ): Deemed dividend- Loan to shareholder — Finding that loan was not trading transaction therefore assessable as deemed dividend .