Court Rules Exempted Capital Gains Excluded from 'Accumulated Profits' u/s 2(22)(e) of Income Tax Act.

Court Rules Exempted Capital Gains Excluded from 'Accumulated Profits' u/s 2(22)(e) of Income Tax Act. https://www.taxtmi.com/highlights?id=27083 Deemed dividend u/s 2(22)(e) - exempted capital gains shall not enter the stream of the expression ‘accumulated profits’ and the company BKFCPL has got only negative accumulated profits after exclusion of exempted capital gains and hence the provisions of section 2(22)(e) cannot be invoked - AT en-us Thu, 28 Jan 2016 11:01:11 +0530 Thu, 28 Jan 2016 11:01:11 +0530 TaxTMI RSS Generator Court Rules Exempted Capital Gains Excluded from 'Accumulated Profits' u/s 2(22)(e) of Income Tax Act. https://www.taxtmi.com/highlights?id=27083 Deemed dividend u/s 2(22)(e) - exempted capital gains shall not enter the stream of the expression ‘accumulated profits’ and the company BKFCPL has got only negative accumulated profits after exclusion of exempted capital gains and hence the provisions of section 2(22)(e) cannot be invoked - AT Highlights Income Tax Thu, 28 Jan 2016 11:01:11 +0530 https://www.taxtmi.com/highlights?id=27083