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Deemed dividend provisions to be invoked if assessee held substantial interest in both lending & borrowing co.

October 4, 2018[2018] 98 453 (Bombay)/[2018] 259 Taxman 160 (Bombay)/[2019] 411 ITR 637 (Bombay)

IT: Where assessee was holding more than 10 per cent of equity shares of lending company and also having substantial interest in borrowing company, amount of loan given by lender company to borrower company was rightly added to assessee's taxable income as deemed dividend
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