Tribunal held that, amount received from group companies and also paid each other for the purpose of business transactions. No amount has gone to share holder- Addition is held to be not justified. Followed earlier years order .( AY.2010-11)
Saamag Developers (P.) Ltd. v. ACIT (2018) 173 ITD 350 (Delhi) (Trib.)
S. 2(22)(e) : Deemed dividend- Group companies – Amount received and also paid each other for the purpose of business transactions -No amount has gone to share holder- Addition is held to be not justified.