https://www.taxtmi.com/caselaws?id=219936 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to reduce the deemed dividend addition to Rs. 34,858. The case clarified the interpretation of accumulated profits for calculating deemed dividends, emphasizing the distinction between loan transactions and capital adjustments. The judgment underscored that deemed dividends should only be to the extent of accumulated profits, as specified under section 2(22)(e) of the Act. en-us Fri, 28 Sep 2012 00:00:00 +0530 Sat, 02 Apr 2016 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219936 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to reduce the deemed dividend addition to Rs. 34,858. The case clarified the interpretation of accumulated profits for calculating deemed dividends, emphasizing the distinction between loan transactions and capital adjustments. The judgment underscored that deemed dividends should only be to the extent of accumulated profits, as specified under section 2(22)(e) of the Act. Case-Laws Income Tax Fri, 28 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219936