{"id":35450,"date":"2023-08-24T13:57:43","date_gmt":"2023-08-24T08:27:43","guid":{"rendered":"https:\/\/itatonline.org\/digest\/acit-v-krishna-coil-cutters-pvt-ltd-202298-itr-650-ahd-trib\/"},"modified":"2023-08-24T13:57:43","modified_gmt":"2023-08-24T08:27:43","slug":"acit-v-krishna-coil-cutters-pvt-ltd-202298-itr-650-ahd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-krishna-coil-cutters-pvt-ltd-202298-itr-650-ahd-trib\/","title":{"rendered":"ACIT v. Krishna Coil Cutters Pvt. Ltd. (2022)98 ITR 650 (Ahd) (Trib)"},"content":{"rendered":"<p>Held, that CIT (A) was justified in deleting the additions as assessee and lender company were engaged in a similar line of business. Further, the lender had charged interest on the advances made to the assessee. The loan was for the business purpose and not individual benefit. (AY. 2011-12 to 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 2(22)(e) : Deemed dividend-Loan to Shareholder-Nature of business of company to lend money-Advanced money to assessee shareholder for exigency and charged interest-Loan not assessable as deemed dividend.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-35450","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9dM","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=35450"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35450\/revisions"}],"predecessor-version":[{"id":35451,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35450\/revisions\/35451"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=35450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=35450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=35450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}