Dismissing the appeal of the revenue , the Tribunal held that, advance in the course of business as commercial transactions , addition cannot be made as deemed dividend .( AY. 2011-12)
ITO v. Yashovardhan Tyagi ( 2020) 184 ITD 461 / 116 taxmann.com 899( Delhi) ( Trib)
S. 2(22)(e):Deemed dividend – Business transaction – Common directors – Advance in the course of business as commercial transactions – Addition cannot be made as deemed dividend