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TMI Blog2012 (5) TMI 106X X X X Extracts X X X X X X X X Extracts X X X X ..... treat the whole amount of Rs. 11,00,000/- as deemed dividend under section 2(22)(e) – against revenue. - IT Appeal No.1104 (Mds.) of 2010 - - - Dated:- 20-4-2012 - N.S. SAINI, CHALLA NAGENDRA PRASAD, JJ. ORDER N.S. Saini, Accountant Member This is an appeal filed by the Revenue against the order of the ld. CIT(A)-V, Chennai, dated 27.4.2010. 2. The sole issue raised in this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... During the financial year, the appellant has received Rs. 11,00,000/- as Salary Advance from the company and the Assessing Officer has treated it as Deemed Dividend. The learned authorized representative of the appellant has explained to me that the Salary Advance was adjusted by the company in the following manner: M/s. Ordain Health Care Private limited Account Statement for the period from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . . 400,000.00 400,000.00 0.00 7.1 Thus, it is seen that the Salary Advance of Rs. 11.00,000/- was later on adjusted against Incentive due to the appellant during the financial year itself and the same were also included as Salary income of the appellant and T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the ld.CIT(A) was not the payment by the assessee-company to its director towards salary and incentives paid during the normal course of the business. Finding of the ld.CIT(A) that out of the payment of Rs. 11 lakhs, only Rs. 4,17,600/-was refundable advance and balance Rs. 6,82,400/- was towards salary and incentives on which tax was duly deducted at source, could not be disputed by the Depart ..... X X X X Extracts X X X X X X X X Extracts X X X X
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