Court Upholds Firm's Retained Funds as Deemed Dividends u/s 2(22)(e) of Income Tax Act.

Court Upholds Firm's Retained Funds as Deemed Dividends u/s 2(22)(e) of Income Tax Act. https://www.taxtmi.com/highlights?id=14197 Deemed dividend u/s 2(22)(e) - The amount collected by the firm belongs to the company concerned. This amount is to be sent by the firm to the company promptly along with statement of account but the same was not done properly - Assessee deliberately retained or allowed to be retained the funds in the firm - held as deemed dividend - HC en-us Fri, 30 Aug 2013 13:54:11 +0530 Fri, 30 Aug 2013 13:54:11 +0530 TaxTMI RSS Generator Court Upholds Firm's Retained Funds as Deemed Dividends u/s 2(22)(e) of Income Tax Act. https://www.taxtmi.com/highlights?id=14197 Deemed dividend u/s 2(22)(e) - The amount collected by the firm belongs to the company concerned. This amount is to be sent by the firm to the company promptly along with statement of account but the same was not done properly - Assessee deliberately retained or allowed to be retained the funds in the firm - held as deemed dividend - HC Highlights Income Tax Fri, 30 Aug 2013 13:54:11 +0530 https://www.taxtmi.com/highlights?id=14197