Deemed Dividends: Share Premiums Not Considered Accumulated Profits u/s 2(22)(e) of Income Tax Act.

Deemed Dividends: Share Premiums Not Considered Accumulated Profits u/s 2(22)(e) of Income Tax Act. https://www.taxtmi.com/highlights?id=6372 Deemed dividend u/s 2(22)(e) - accumulated profits would mean profit in the commercial sense and not assessable taxable profits - share premium account would not partake the nature of commercial profits and therefore, by no stretch of imagination, this can be called accumulated profits - AT en-us Wed, 02 Jan 2013 17:23:19 +0530 Wed, 02 Jan 2013 17:23:19 +0530 TaxTMI RSS Generator Deemed Dividends: Share Premiums Not Considered Accumulated Profits u/s 2(22)(e) of Income Tax Act. https://www.taxtmi.com/highlights?id=6372 Deemed dividend u/s 2(22)(e) - accumulated profits would mean profit in the commercial sense and not assessable taxable profits - share premium account would not partake the nature of commercial profits and therefore, by no stretch of imagination, this can be called accumulated profits - AT Highlights Income Tax Wed, 02 Jan 2013 17:23:19 +0530 https://www.taxtmi.com/highlights?id=6372