Sec. 2(22) of the Income-tax Act, 1961—Deemed dividend – Revenue filed tax appeal against the order of TIAT in holding that the amounts received as share application by companies from companies in both of which the respondent assessee has beneficial interest, is not loans and advances for the purposes of invoking section 2(22)(e) of the Act. High Court dismissed the revenue’s appeal holding that ” We have today passed an order in respect of the same respondent-assessee for A.Y. 2006-07 in CIT v. Vikas Oberoi [2017] 88 taxmann.com 701/394 ITR 505 (Bom.) in respect of question no. (i) therein, which is identical to the question proposed for our consideration herein. It is further agreed between the parties that for the reasons indicated in the order passed today with regard to the aforesaid question in Vikas Oberoi's case (supra) the question as formulated would not give rise to any substantial question of law“. SLP also dismissed as withdrawn due to low tax effect - PR. CIT V/s VIKAS OBEROI - [2020] 272 TAXMAN 188 (SC)