PCIT v. Anumod Sharma (2021) 283 Taxman 564 (Delhi) (HC)

S. 2(22)(e): Deemed dividend-Advance against sale of commercial space-Addition cannot be made as deemed dividend.

Dismissing the appeal of the revenue the Court held that  Tribunal had given findings of fact that advance received by assessee from company was not in nature of loan or advances as contemplated in section 2(22)(e), but was trade advance against booking of commercial place being built by assessee. Deletion of addition was affirmed.

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