High Court held that section 2(22)(e) would not be applicable where assessee availed unsecured loan from its group company which was paid back with interest in same year. SLP of Revenue was dismissed on the ground delay of 470 days in filing SLP and also on merits. (AY. 2012-13)
PCIT, Central v. Suprabha Industries Ltd. (2023) 295 Taxman 408 (SC) Editorial: SLP dismissed, PCIT, Central v. Suprabha Industries Ltd. (2022) 286 Taxman 156 (Cal)(HC)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Deemed dividend-Unsecured loan from its group companies-Delay of 470 days-SLP dismissed on ground of delay as well as on merits. [S. 2(22)(e), Art.136]