https://www.taxtmi.com/caselaws?id=210877 The Court upheld the Tribunal's decision that advances drawn by the assessee against commission on profits were deemed dividend subject to tax under section 2(22)(e) of the Income-tax Act. The Court rejected arguments of double taxation, emphasizing that tax paid on income did not exempt taxation on deemed dividend. Legal precedents supported that commission on profits accrues only at year-end, not before, and advances against it are taxable. The Court dismissed appeals, affirming the reassessment of deemed dividend after adjusting the salary due to the assessee. en-us Fri, 01 Apr 2011 00:00:00 +0530 Mon, 17 Dec 2012 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210877 The Court upheld the Tribunal's decision that advances drawn by the assessee against commission on profits were deemed dividend subject to tax under section 2(22)(e) of the Income-tax Act. The Court rejected arguments of double taxation, emphasizing that tax paid on income did not exempt taxation on deemed dividend. Legal precedents supported that commission on profits accrues only at year-end, not before, and advances against it are taxable. The Court dismissed appeals, affirming the reassessment of deemed dividend after adjusting the salary due to the assessee. Case-Laws Income Tax Fri, 01 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210877