https://www.taxtmi.com/caselaws?id=206586 The ITAT dismissed the revenue's appeal, affirming the deletion of the deemed dividend addition by the CIT (Appeals) based on the absence of accumulated profits in the company. The ITAT emphasized the necessity of actual accumulated profits for the application of section 2(22)(e) of the Income-tax Act, 1961, rejecting the revenue's argument and upholding the decision of the CIT (Appeals). en-us Fri, 17 Jun 2011 00:00:00 +0530 Tue, 08 Nov 2011 07:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206586 The ITAT dismissed the revenue's appeal, affirming the deletion of the deemed dividend addition by the CIT (Appeals) based on the absence of accumulated profits in the company. The ITAT emphasized the necessity of actual accumulated profits for the application of section 2(22)(e) of the Income-tax Act, 1961, rejecting the revenue's argument and upholding the decision of the CIT (Appeals). Case-Laws Income Tax Fri, 17 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206586