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ITAT deleted deemed dividend additions as lending was substantial part of business of co.

June 11, 2019[2019] 105 256 (Ahmedabad - Trib.)/[2019] 176 ITD 735 (Ahmedabad - Trib.)

IT : Where assessee received loan from two companies which were substantially involved in business of money lending, proviso (ii) to section 2(22)(e) would apply to assessee's case and addition of deemed dividend made to assessee's income was to be deleted
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