https://www.taxtmi.com/caselaws?id=66638 The Tribunal partially allowed the appeal by excluding plant and machinery expenditure from accumulated profits calculation under section 2(22)(e) for deemed dividend. It ruled that such expenditure should not be considered in accumulated profits, emphasizing the necessity of plant and machinery for technological advancement. Additionally, the Tribunal deleted the addition related to hundi loans under section 69D after confirming the genuineness of the transactions and citing previous Tribunal orders supporting their exclusion when identity and genuineness are established. Other grounds raised in the appeal were rejected as not pressed. en-us Wed, 14 Oct 1987 00:00:00 +0530 Sat, 05 Mar 2011 13:16:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66638 The Tribunal partially allowed the appeal by excluding plant and machinery expenditure from accumulated profits calculation under section 2(22)(e) for deemed dividend. It ruled that such expenditure should not be considered in accumulated profits, emphasizing the necessity of plant and machinery for technological advancement. Additionally, the Tribunal deleted the addition related to hundi loans under section 69D after confirming the genuineness of the transactions and citing previous Tribunal orders supporting their exclusion when identity and genuineness are established. Other grounds raised in the appeal were rejected as not pressed. Case-Laws Income Tax Wed, 14 Oct 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66638