Tribunal held that the transactions between the assessee and those companies were in the nature of trading transactions which were beyond the ambit of deemed dividend. Followed Dy CIT v. Gaurav Arora 2019 (3) TMI 1289 ( AY.2013-14)
Dy. CIT v. Futurz Next Services P. Ltd. (2020) 80 ITR 58( Delhi ) (Trib)
S. 2(22)(e):Dividend – Deemed dividend- Trading transactions – Cannot be assessed as deemed dividend .