Deemed dividend u/s 2(22)(e) - A.O. made addition on account of ...

Assessing Officer's addition u/s 2(22)(e) reversed; running current account debit balance not deemed dividend.

August 19, 2013

Case Laws Income Tax AT

Deemed dividend u/s 2(22)(e) - A.O. made addition on account of debit balance of account - the account is clearly in the nature of a running current account and merely because for a few days there was a debit balance of it cannot be said that such debit balance was either loan or advance by M/s Daisy Motors Pvt. Ltd. to the assessee - AT

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Deemed dividend u/s 2(22)(e) - A.O. made addition on account of ...

Assessing Officer's addition u/s 2(22)(e) reversed; running current account debit balance not deemed dividend.

August 19, 2013

Case Laws Income Tax AT

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