Tax Case: Misclassification of Benefits as Perquisites Instead of Deemed Dividends u/ss 2(22)(a) and 2(24)(iv.

Deemed dividend u/s 2(22)(a) - perquisite u/s 2(24)(iv) - CIT(A) is not justified to hold that it is perquisite benefit given by HPPL to its shareholder and not the transfer of occupancy rights to its shareholders. - AO has rightly held that the value of flats received are nothing but dividend given in the form of assets by HPPL. - AT .....

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